Asia Pacific Residential Solar PV Module Market Analysis

Asia Pacific Residential Solar PV Module Market Analysis

To get key market trends

  Download Free Sample

Based on connectivity, the on-grid segment is anticipated to cross more than USD 31 billion by 2032. Rising demand for connectivity offering cost-saving and economic benefits will foster the product adoption. Excess electricity generated by residential solar panels can be fed back into the grid with the integration of on grid solar PV, allowing various homeowners to offset their energy consumption through various net metering programs. These programs further provide financial compensation for excess energy, reducing utility bills significantly.
 

The Asia Pacific residential solar PV module market from ground mounted segment is anticipated to grow at a CAGR of more than 11% through 2032. Increasing demand for mounting solutions offering flexibility to install larger arrays, allowing homeowners to generate more energy compared to rooftop installations is set to augment product adoption. Furthermore, their ability to customize the size of the installation based on energy needs makes ground mounted systems an attractive option for homeowners aiming for energy independence or lower utility bills.
 

China residential solar PV module market is set to reach USD 31.5 billion by 2032, owing to multifaceted approach involving aggressive policy support and technological advancements. Presence of key players supported by rapid technological innovation to improve solar panel efficiency and reduce product cost will foster the industry outlook. As electricity costs rise across the region, homeowners are seeking alternative energy sources to mitigate their energy expenses which will further contribute to market growth. Additionally, growing focus on reducing air pollution and achieving energy security will drive the demand for clean energy solutions.