DUBLIN--(BUSINESS WIRE)--The "Rooftop Solar Photovoltaic Installation Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
It is estimated that the rooftop solar PV installation market to grow with increasing installed capacity of solar PV, which is expected to get increased at a CAGR of around 8.5% during the forecast period.
The government policies that drives the rooftop solar installation market include net metering, that allows the users to receive credit on its electricity bill by selling excess electricity that the user generates through its solar photovoltaic installations. Moreover, a reduction in the installation cost of solar photovoltaic panels helps the market to expand. However, cost for electricity storage on battery is quite high, which require grid battery to store electricity during night. However, increasing space constraints in the major cities across the globe is driving the demand for offshore wind energy and other alternative renewable energy sources. This factor is expected to hinder the growth of the market studied.
Key Market Trends
Residential Rooftop Solar Photovoltaic Installation to Witness a Significant Growth
- Solar photovoltaic mounted on the rooftop of a residential building used to generate electricity are know as residential rooftop solar PV. The installation includes photovoltaic modules, mounting systems, cables, and other electrical accessories.
- It is expected that nearly 1.8% of homes across the largest metro areas around the world have installed the rooftop solar PV. California in the United States is the prominent state to have the highest penetration in this segment.
- San Diego and San Francisco are the major cities to have the highest percentage of residents that installed rooftop solar PV. Moreover, the cities are expected to have around 12-15% penetration level during the forecasting period.
- During the FY 2019-20, Government of India has released a huge subsidiary to expand the residential rooftop PV installation market. The government has initiated subsidy rate depending upon kilowatts of solar PV installed. Such initiation from the government side is expected to expand the residential solar PV installation in India.
Europe as a Significant Market
- During 2018, Europe has a significant rooftop solar PV of around 80 gigawatts (GW) installed capacity. The market for rooftop solar installation is segregated into residential, commercial, and industrial. Commercial rooftop solar PV has the highest install capacity in the region.
- Furthermore, it is expected that nearly 680-Terawatt hours of electricity can be generated if the rooftop across the region installs the rooftop solar PV.
- 100 Electricity Finland Oy, 3 COMM Telecommunications Ltd., 3 Energy, 360 Tech Engineering, 3K, and 4M Energy are few prominent companies that provide installation of rooftop solar PV in the European region.
- Europe has potential to have a significant growth in rooftop PV installation market. Germany is one of the potential country that have nearly 7900 square kilometre of rooftop area, which is estimated to produce nearly 680,276 gigawatt-hours of electricity a year.
Key Topics Covered:
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Rooftop Solar Photovoltaic (PV) Installed Market in GW, till 2025
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Location of Deployment
5.1.2 Commercial and Industrial
5.2.1 North America
5.2.4 South America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Titan Solar Power NV Inc.
6.3.2 Momentum Solar
6.3.3 Petersen-Dean Inc.
6.3.4 Elemental Energy Inc.
6.3.5 Semper Solaris Construction Inc.
6.3.6 Powerhome LLC
6.3.7 ReVision Energy LLC
6.3.8 Sunpro Solar Inc.
6.3.9 Baker Electric Home Energy
6.3.10 Infinity Energy Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/2ghepd