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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.

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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

This research study analyzes the market for rooftop solar PV systems market in terms of revenue (USD Million). The rooftop solar PV systems market has been segmented on the basis of end use type, and geography. The regional segment has been further divided by end use type, which are major applications of the rooftop solar PV market. For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the segments has been provided at the regional as well as country-specific level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the rooftop solar PV systems business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global rooftop solar PV market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive industry analysis of the global rooftop solar PV market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and profitability of the global rooftop solar PV market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition. 

The high-level analysis in the report provides detailed insights into the rooftop solar PV systems business globally. There are currently numerous drivers of the market. One of the most prominent drivers is the support from government in terms of subsidies, and tax incentives offered for rooftop solar PV systems installations on industrial, residential, and commercial buildings. Market attractiveness analysis was carried out for the rooftop solar PV market on the basis of end use. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.  

The rooftop solar PV market was segmented on the basis of end use type (residential, and commercial). The configuration of rooftop solar PV systems consists of Solar PV panels, and balance of system (transformers, electricity systems, monitoring and mounting equipment along with structural for mounting and installing modules). The rooftop solar PV market was analyzed across four geographies: North America, Asia Pacific, Europe, and Rest of the World (Middle East, South America, and Africa). Regional data has been provided for each sub-segment of the rooftop solar PV market. Key players in the rooftop solar PV market include Trina Solar Limited, Yingli Green Energy Holding Company Limited, Jinko Solar Holdings, Co., Ltd., Canadian Solar Inc, JA Solar Holdings, Co., Ltd., and SolarWorld AG among other global players. The report provides an overview of these companies, followed by financial details, business strategies, and recent developments.

Rooftop Solar PV Market: By End Use Type

  • Residential
  • Commercial

Rooftop Solar PV Market: By Region

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