What is Solar Rooftop Panel Market?
A rooftop solar power system is a photovoltaic (PV) system that has its electricity-generating solar panels mounted on the rooftop of a residential or commercial building or structure. Rooftop-mounted systems are small compared to the utility-scale solar ground-mounted photovoltaic power station with capacities in the megawatt range. Solar Panels produce carbon-free electricity when irradiated with sunlight. Often made of Silicon, solar panels are made of smaller solar cells which typically number 6 cells per panel. Multiple solar panels are strung together to make up a solar array. Solar panels are generally protected by tempered glass and secured with an aluminum frame. The front of a solar panel is very durable whereas the back of the panel is generally more vulnerable. Growing demand for sustainable, renewable, clean energy source this factor is driving the solar rooftop market. Solar rooftop panel depends on the weather this factor may restrain the Market In November 2022, First Solar to build USD 1 billion manufacturing plant in Alabama. The plant, to be located in Lauderdale County in the Tennessee Valley region, created more than 700 jobs
Highlights from Solar Rooftop Panel Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||LONGi (China), Tongwei Solar (China), Tesla (United States), JA SOLAR Technology Co.,Ltd.(China), Qcells (South Korea), Shanghai Aiko Solar Energy Co.,Ltd.(China), HELIENE Inc. (Canada), Trina Solar (China), LG Solar (Canada), Jinko Solar (China) and Renesola (United States)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality products to cater to the ever-growing demand for solar rooftop panels. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Research Analyst at AMA predicts that China Manufacturers will contribute to the maximum growth of Global Solar Rooftop Panel market throughout the forecasted period. LONGi (China), Tongwei Solar (China), Tesla (United States), JA SOLAR Technology Co.,Ltd.(China), Qcells (South Korea), Shanghai Aiko Solar Energy Co.,Ltd.(China), HELIENE Inc. (Canada), Trina Solar (China), LG Solar (Canada), Jinko Solar (China) and Renesola (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Canadian Solar (Canadian), Zhongli (China), The Solaria Corporation (United States), Wuxi Suntech Power Co., Ltd. (China), First Solar (United States) and MERLIN SOLAR TECHNOLOGIES, INC. (United States).
Solar Rooftop Panel Market Segmentation:
|Application / End User||Solar electric power generation, Solar pumping, Solar distillation, Solar electric power generation, Solar cooking, Solar greenhouse, Solar water heating and Others|
|Type||Monocrystalline solar panel, Polycrystalline solar panel and Thin-film panels|
On the basis of geography, the market of Solar Rooftop Panel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Increase the adoption of rooftop solar panels usage is clearly on the rise
Market Growth Drivers:
Growing demand for sustainable, renewable, clean energy source
Rooftop PV solar operation and maintenance are of higher costs
Solar rooftop panel depends on the weather
Increase in power prices charged by energy providers is driving up demand for solar photovoltaics
Key Target Audience
Rooftop panel Manufacture & Suppliers, Government Regulatory, End Users and Others
Market Leaders & Development Strategies
In November 2022, Complete Solar Merges with Solaria, Forming Complete Solaria, an Industry Leading Solar Company.
In November 2022, First Solar to build USD 1 billion manufacturing plant in Alabama. The plant, to be located in Lauderdale County in the Tennessee Valley region, created more than 700 jobs.