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Published Date: 2015-10-06Number of Pages: 78

Rooftop Solar PV Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023

Rising Carbon Emissions Pave Way for Rooftop Solar PV Systems

The growing energy crisis has motivated several residential as well as commercial spaces to adopt rooftop solar PV systems. These systems not only offer energy-efficient solutions but are also easy to install. Furthermore, their ability to generate a high capacity of energy is making them a preferred choice of alternative energy source over other green sources of energy. The considerably longer lifespan of these systems also makes them a suitable for a long-term energy solutions for residential and commercial places. The tax benefits offered by various governments for utilizing solar panels to generate heat are also spurring a demand for these systems. Thus, these systems are also garnering large amounts of investments from equity as well as public investors. 

Transparency Market Research states that the global rooftop solar PV market was valued at US$1.79 bn in 2014 and is expected to reach US$4.58 bn in 2023, as the market expands at a CAGR of 11% between 2015 and 2023. The demand for rooftop solar PV systems will also surge as developing and developed nations strive to cut down their carbon footprint with alternative sources of energy. Reducing battery prices required for energy storage are also expected to boost the sales of rooftop solar PV systems in the near future.

Asia Pacific Emerges as the Next Big Investment Destination for Rooftop Solar PVs

From the geographical standpoint, North America held the largest share of 31% in the global rooftop solar PV market. The region will retain its dominant position all throughout the forecast period as it embraces the TPO model. Furthermore, increasing accessibility to financial leasing schemes will also lead to rising number of installations of rooftop solar PV systems in North America by 2023.

Asia Pacific has also been identified as an emerging segment of the global market with India and China in the lead. Initiatives such as the Jawaharlal Nehru National Solar Mission will be the primary driver for India’s growing adoption of these systems. Meanwhile, China’s compulsion to bring down pollution levels and reduce carbon emissions will force bring about a greater interest in rooftop solar PV systems.

rooftop-solar-pv-market

 

Tax Benefits Lure in More Residential Consumers Keeping the Segment in the Lead

The increasing number of government incentives and tax rebates have led the demand for rooftop solar PV systems in the residential sector. Divided amongst two end users, namely, residential and commercial, the former is anticipated to hold a share of 63% in the global market in terms of volume. The uptake of rooftop solar PV systems is also attributable to the convenient electricity solutions they offer to residential consumers amidst rising energy concerns. The emergence of Third-Party Operated (TPO) model in several countries will also boost the residential segment’s stake in the overall market. The commercial users will also register a rise due to increasing usage of these systems in government buildings.

Some of the leading players in the global rooftop solar PV market are Shunfeng International Clean Energy Limited (SFCE), Yingli Green Energy Holding Company Limited, Trina Solar Limited, SolarWorld AG, Jinko Solar Holding Co., Ltd., and SunPower Corporation. To stay ahead of the competition, players will have to focus on research and development of products that suit the price-sensitive consumers. Furthermore, strategic mergers and acquisitions to improve product portfolio and enhance the technological knowledge base will also provide the companies an edge.

Section 1 Preface

  • Report Description
  • Market Segmentation
  • Research Scope
  • Research Methodology

Section 2 Executive Summary

  • Executive Summary

Section 3 Industry Analysis

  • Introduction
  • Value Chain Analysis of Rooftop Solar PV Market
  • Market Dynamics
    • Driver 1 – High efficiency and falling energy payback time supported by government subsidies and tax credits
    • Driver 2 – Declining battery costs to boost adoption of rooftop solar and contribute to decreasing LCOE
    • Driver 3 – Rising adoption of distributed PV technology globally
    • Restraint 1 – Lack of robust smart grid infrastructure and net metering policies
    • Opportunity 1 – Emerging markets to drive the demand and generation of rooftop solar systems market
    • Opportunity 2 – Rise of YieldCos* in solar industry to drive the demand for rooftop solar systems
  • Porter’s Five Forces Analysis
  • Company Market Share- Rooftop Solar PV Systems Market (2014) (%)
  • Rooftop Solar PV Market - Attractiveness Analysis, 2014

Section 4 Global Rooftop Solar PV Market: Application Overview

  • End Use Market Value – Residential and Commercial
  • End Use - Residential
  • End Use – Commercial

Section 5 Global Rooftop Solar PV Market – Regional Overview

  • Rooftop Solar PV Market - North America 
  • Rooftop Solar PV – North America, By Volume, 2014 – 2023 (MW)
  • Rooftop Solar PV Market – North America, By Value, 2014 – 2023 (USD Million)
  • Rooftop Solar PV – Europe
  • Rooftop Solar PV – Europe, By Volume, 2014 – 2023 (MW)
  • Rooftop Solar PV Market – Europe, By Value, 2014 – 2023 (USD Million)
  • Rooftop Solar PV Market – Asia Pacific
  • Rooftop Solar PV Market – Asia Pacific, By Volume, 2014 – 2023 (MW)
  • Rooftop Solar PV Market – Asia Pacific, By Value, 2014 – 2023 (USD Million)
  • Rooftop Solar PV Market – Rest of the World (RoW)
  • Rooftop Solar PV Market – RoW, By Volume, 2014 – 2023 (MW)
  • Rooftop Solar PV Market – RoW, By Value, 2014 – 2023 (USD Million)

Section 6 Company Profiles

  • Trina Solar Limited
  • Yingli Green Energy Holding Company Limited
  • Canadian Solar Inc
  • Jinko Solar Holding Co., Ltd.
  • SolarWorld AG
  • SunPower Corporation
  • Shunfeng International Clean Energy Limited (SFCE)
  • Hanwha Q CELLS Co Ltd
  • JA Solar Holdings, Co., Ltd.
  • Vivint Solar, Inc.
  • SolarCity Corporation
  • Sungevity

Installation of rooftop solar photovoltaic (PV) systems is poised to surge as energy crisis is felt globally. Besides providing energy-efficient solutions, these systems are also easy to install, which is primary driver of the global rooftop solar PV market. Due to their ability of generating high capacity energy, rooftop solar PV systems is slowly becoming a preferred choice as an alternative energy source worldwide. 

With government offering lucrative tax benefits, intended at encouraging the use of energy derived from alternative sources, the future of the global rooftop solar PV market seems quite promising. For the purpose of the study, the market is segmented based on various parameters such as end-use and geography. Regionally, Asia Pacific, Europe, North America, and Rest of the World make the key segments of the global rooftop solar PV market. By end-use the market can be bifurcated into commercial and residential. 

The report presents a granular analysis of the various factors influencing the market profoundly. The growth drivers and restraints shaping its trajectory are also studied in detail. To present an executive-level blueprint of the market, some of the leading companies operating therein are profiled. Using industry-leading analytical tools their strengths and weaknesses are analyzed. The report also provides insights into the threats and opportunities that these companies could witness during the course of the forecast period between 2015 and 2023. 

Global Rooftop Solar PV Market: Overview 

The global rooftop solar PV market is projected to exhibit a robust 11% CAGR between 2015 and 2023. The market had a valuation of US$1.79 bn in 2014, and is expected to reach US$4.58 bn by the end of 2023. Based on end-use, the residential buildings segment emerged dominant. Regionally, North America dominated the global rooftop solar PV market in 2014. However, Asia Pacific holds tremendous opportunities for the market. The regional market is expected to report the leading CAGR during the forecast period. 

The market is significantly gaining from the increasing demand for rooftop solar PV systems both across commercial and residential sectors. With the recent technological advancements, the deployment of rooftop solar PV systems is expected to increase further in the forthcoming years. Experts suggest, very soon these systems are slated to receive wide acceptance as primary sources of energy. A rooftop solar PV has a lifespan of over 30 years, which is a key factor encouraging the adoption of the system. 

Despite exhibiting positive growth, the absence of smart grid infrastructure is the key factor challenging the mass adoption of solar PV systems. Moreover, these systems are likely to be installed mainly for individual usage purpose than large-scale supply. This could hamper the market’s growth as well. Nevertheless, technological advancements will make possible to mitigate these challenges, thereby ensuring considerable growth of the market in the forthcoming years. 

Companies Mentioned in Report 

To present a definitive analysis of the vendor landscape in the market, the report profiles some of the leading players operating therein. The top five companies, which registered their lead with a share of 43% in the market in 2014, are Yingli Green Energy Holding Company Limited, Jinko Solar, SunPower, Canadian Solar, and Trina Solar. Besides these, the report also includes profiles of some of the prominent vendors, whose strategies have reported significant impact on the market in the past. 

Global Rooftop Solar PV Market is segmented as: 

Global Rooftop Solar PV Market: By End-use

  • Residential
  • Commercial 

Global Rooftop Solar PV Market: By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World 

This report gives you access to decisive data such as: 

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

 Key highlights of this report 

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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