The report “Solar Rooftop Market, By Capacity (Below 10 kW, 11 kW- 100kW, and Above 100 kW), By Connectivity (On Grid and Off Grid), By End User (Residential, Commercial, and Industrial), and Region - Global Forecast to 2029"
Solar rooftop market is projected to grow from US$ 69.4 billion in 2020 to US$ 123.6 billion by 2029. Global solar rooftop market is driven owing to the electricity generated by renewable sources, which is clean, cost effective and renewable that increases the demand of solar system. In addition, growing solar systems installations, government initiatives and policies also drives growth of the global solar rooftop market.
Key Highlights:
- In February 2019, Tata Power Solar Systems Limited, India's largest solar energy company, and Tata Power's wholly-owned subsidiary has launched a complete residential rooftop solution in Hyderabad.
Key Market Insights from the report:
The global solar rooftop market accounted for US$ 69.4 billion in 2020 and is projected to register a moderate CAGR of 6.6 % over the forecast period. The market report has been segmented on the basis of capacity, connectivity, end user, and region.
- By capacity, the global solar rooftop market is segmented into below 10 kW, 11 kW- 100kW, and above 100 kW.
- By connectivity, the global solar rooftop market is segmented on grid and off grid type.
- By end user, the global solar rooftop market is segmented into residential, commercial and industrial.
- By region, the market in Asia Pacific is accounted major share in terms of revenue over the forecast period, owing to increased consumption of electricity, growing solar system installations, government initiatives and policies in this region.
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The prominent player operating in the global solar rooftop market include SMA Solar Technology AG, Trina Solar limited, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., Jinko Solar, SolarWorld AG, SunPower Corporation, Shunfeng International Clean Energy Limited., and Tata Power Solar Systems Limited.
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