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Asia Pacific Residential Solar PV Market Trends

Report ID: GMI9624
Published Date: May 2024
Report Format: PDF

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Asia Pacific Residential Solar PV Market Trends

Increasing interest in energy independence, especially in areas prone to power outages or with unreliable grid infrastructure will stimulate the product demand. Ongoing development of aesthetically pleasing solar panels, including solar shingles and building-integrated photovoltaics (BIPV) will enhance the industry growth. Moreover, improvements in solar panel efficiency along with the development of better inverters and energy storage solutions will make solar PV systems more effective and reliable for residential use.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Asia Pacific market for residential solar PV was reached USD 19.49 billion in 2023 and is anticipated to grow at 3.4% CAGR up to 2032, driven by technological advancements.

The rooftop mounted segment of the Asia Pacific residential solar PV market is anticipated to cross more than USD 22.41 billion by 2032, driven by growing development of various projects along with significant government fundings.

China residential solar PV market size is set to exceed USD 19.02 billion by 2032, driven by rapid expansion of rooftop solar capacity.

Canadian Solar, CsunSolarTech, EMMVEE SOLAR, JA SOLAR Technology Co., Ltd, Jinko Solar, and Solar Technologies, Ltd. among others.