Rooftopsolar PV offers an efficient, emission-free renewable source of electricitywhich can be used off-grid as well as on-grid. Rooftop solar PV offers aneffective and efficient method for reducing carbon footprint and generatingelectricity from solar radiation. The market for rooftop solar PV has beenrapidly increasing with the support of government subsidies and tax credits.The rooftop solar PVmarket have attracted large number of equity investmentsand funding. Currently, there are two major silicon technologies available:monocrystalline and polycrystalline. Rooftop solar PV systems are undergoing asurge in popularity due to their flexible nature and availability throughleasing schemes. Rooftop solar electricity has been able to achieve grid parityin most of the countries. The overall payback time for the rooftop solar PVsystems have been reducing, further boosting the market. The rooftop solarmarket is registering huge investments and funding from the equity and publicinvestors.
The EnergyPayback Time (EPBT) for 2 kWp rooftop solar systems is around two to threeyears, thus making these systems an economically viable and efficientalternative. Distributed PVs (DPVs) with a capacity of less than 100 kW arepreferred for rooftop solar systems. However, as the difficulties with FITpersist for DPV, solar leasing has gained popularity and is expected to boostthe rooftop solar market. Rooftop solar continues to depend on differentincentive mechanisms that drive the demand such as technology-specificrenewable portfolio standards (RPS) and tenders, tax credits, traditionalfeed-in tariffs or Power Purchase Agreements (PPAs). Rooftop solar systems aremore suitable for self-consumption. Transmission of solar electricity to othersites is less efficient for rooftop solar due to lack of smart gridinfrastructure. Electricity trading is done for a limited amount of electricitydue to the absence of infrastructure. Although net metering has beenimplemented in almost all the major rooftop solar markets. Net metering hasattracted negative attention from other utilities, including fossil fuelutilities. However, Share of renewable energy in the global energy mix isrising at a substantial pace. Solar and wind renewable capacities experienced maximumgrowth in 2015. The Paris Agreement enforces countries to strive toward keepingthe rise of global temperature in the present century below 2°C. According tothe IEA, a minimum of 75 GW of solar capacity was installed worldwide in 2016,which was a rise of about 48% from that in 2015. Decrease in production costsand advancements in technology of solar panels have the potential to reshapethe rooftop solar PV industry. Rooftop solar is widely used in commercial andindustrial buildings as it provides benefits such as economical cost, lesscomplexity, avoiding of cost of land, etc.
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Basedon the application, the market has been segmented into on-grid and off-grid.The off-grid rooftop solar PV segment held the major share of the market in2016. Rooftop solar PV systems are available through financial leasing andthird-party model which has led to an increase in their demand in off-gridapplications.
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In terms ofgeography, Europe was the largest market for rooftop solar PV, accounting formore than 70% share in 2016. The Germany leads the rooftop solar PV market inEurope, with the government promoting rooftop solar PV systems by offeringincentives and collaborations. Asia-Pacific follows Europe with China as aleading country, with the highest number of rooftop solar installations in theregion. Asia Pacific also houses headquarters of several large rooftop solar PVcompanies. North America was the third-largest market for rooftop solar PV, interms of market share, in 2016. US is the leading countries with major rooftopsolar PV projects in North America. The market in Latin America is likely togrow at a significant rate with anticipated increase in commercial projectsacross South Africa, Chile, and Brazil in the near future.
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Key playersin the Rooftop Solar PV market include Sharp Corporation, Trina Solar, PristineSun LLC, Solimpeks Corporation, Kyocera Corporation, JA Solar Co. Ltd., YingliSolar, Vikram Solar, Canadian Solar Limited, RelyOn Solar Pvt Ltd. and SunshotSolar Co. Ltd. In order to bolster their position, companies are focusing onproduct development, enhance outreach and expand client pool by means ofstrategic mergers & acquisition. In 2016, Sharp Corporation made a JV withShigemitsu Shoji Co. Ltd. to work on first large solar power plant in Mongoliaand in the same year they have signed an agreement with Big C Supercenter, Thailandlargest hypermarket retailer, to construct rooftop solar system.
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