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Solar Rooftop Market 2022 Emerging Trends, Market Outlook

The Latest Comprehensive Industry research study titled, “Solar Rooftop Market by Products, Application - Global Industry Analysis and Forecast To 2022” published by Crystal Market Research, states that the Solar Rooftop market is projected to be around $4.14 billion by 2022.

In 2012, the solar rooftop market was valued around USD 1.48 billion and is anticipated to reach approximately USD 4.14 billion by 2022, while registering at a significant compound annual growth rate (CAGR) of 9.70% during the forecast period. A solar rooftop transforms the light energy from the sun into electrical energy with the help of solar panels mounted on the roof on any construction. These rooftop solar panels can either be off-grid with the battery storage or connected to the grid. They are used in several commercial, residential and industrial purposes along with system ratings of up to 10 kW, 11kW-100MW and over 100 MW, respectively. The extreme need for energy in the face of diminishing fossil fuels, has resulted in application of solar rooftop panels in many segments. Apart from rendering energy efficient solutions, these solar panels are also easy and user-friendly to install. In the recent past, the demand for solar rooftops is has progressively increased and is projected to grow with a striking profit. These systems have been leading the renewable energy market due to its escalating demand from its end user applications. Solar rooftops particularly in the residential application is propelling this market further. In the past decade, there has been a steady downfall in the cost of major elements such as poly-silicone, silver that are used in the process of manufacturing of solar cells. Owing to higher electricity generating capacity, rooftop solar panels are becoming a priority option for alternate energy, surpassing other green sources of energy. Because of such advantages, this industry’s market is booming. Governments from various regions are offering tax sops in order to deploy solar panels to create heat, this factor is promoting the further growth of this market. Therefore, both public and private investors are channeling money into the major companies that are involved in manufacturing these panels. However, lack of smart grid infrastructure is said to hinder the growth of this market to some extent. This results in making them inviable for supplying the energy on a bigger scale. Moreover, the market is being put off by the negative sentiments related to the net metering policies meant for setting up these panels.

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Key Market Players:

Trina Solar (China)
SMA Solar Technology AG (Germany)
SolarWorld AG (Germany)
Yingli Green Energy Holding Company Limited (China)
Shunfeng International Clean Energy Limited.(China)
Canadian Solar Inc. (Canada)
JA Solar Holdings Co. Ltd. (China)
Jinko Solar (China)
ABB Ltd. (Switzerland)
SunPower Corporation (U.S.)
Delta Energy Systems (Germany)
Tata Power Solar Systems Limited (India).

Based on the type of Products, the solar rooftop market is segmented into off-grid type electricity generating systems and on-grid type. In on-grid system, the solar is connected with the utility grid, generally the power lines, along with batteries and loads if at all present. In exclusively on-grid solar panels, batteries are not attached. The off-grid solar systems generate electricity that is exhausted by the load which is connected, and the extra power stored in batteries is to be used whenever needed. Innovation of decentralized power to decrease dependency on grid will propel the product demand further. High efficiency, facility for orientation and inclination and ease of maintenance, will enhance the solar rooftop systems market.
The market based on end user application is typically segmented into residential, commercial and industrial. Increasing demand for uninterrupted and reliable electricity supply from urban areas will support the residential application market. In fact, in 2016, Sweden Government declared 60% subsidy to cloak the cost of installation in residential energy storage system which included solar systems. Escalating investment towards expansion of green building constructions will impel the commercial solar rooftop market. In 2016, France set up novel tenders for installing PV systems on industrial and commercial buildings to gain 20.2 GW OV capacity by 2023. Europe announced 2010/31/EU directive, with a motive to make sure that all novel constructions to be net zero buildings by 2020.
North America is accountable for major market share in the global segment of solar rooftop owing to fast adaptation of the TPO model. Moreover, this region is predicted to maintain its predominant share owing to rooftop installations garnering further traction. Europe solar rooftop market is also soaring gradually is expected to sustain its position during the forecast period due to elevating compliance for green energy and high adoption of solar energy. Various governments in Europe are rendering tax benefits to the market manufacturers which is resulting in the lucrative growth of this market. Because of several government schemes like direct capital subsidies, financing schemes, and green electricity schemes, Germany leads the European market of solar rooftops. Asia Pacific also holds a significant market for rooftop solar panels which is experiencing a considerable growth owing to surge in solar rooftop installations, more funding from the government and high energy demands. In Asia Pacific, Japan leads the market due to sustainable building demands and tax benefits. Furthermore, surplus consumer base, high GDP growth, developing infrastructure, and sustainable energy requirements in India and China are encouraging the growth of this market industry in Asia
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The major market players of the global solar rooftop market are Trina Solar (China), SMA Solar Technology AG (Germany), SolarWorld AG (Germany), Yingli Green Energy Holding Company Limited (China), Shunfeng International Clean Energy Limited. (China), Canadian Solar Inc. (Canada), JA Solar Holdings Co., Ltd. (China), Jinko Solar (China), ABB Ltd. (Switzerland), SunPower Corporation (U.S.), Delta Energy Systems (Germany), and Tata Power Solar Systems Limited (India). So as to strengthen their positions, these market players are directing money into R&D for developing new products. They might also think over strategic mergers and acquisitions in order to expand client pool, product portfolio and enhance outreach.
The global solar rooftop market is segmented as follows:
By Product:
On-Grid Type
Off- Grid Type
By Application:

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News Release: Solar Rooftop Market 2022 Emerging Trends, Market Outlook
Submitted on: November 20, 2017 10:06:05 AM
Submitted by: Siddharth
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