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Asia Pacific Residential Solar PV Module Market Trends

  • Report ID: GMI11478
  • Published Date: Sep 2024
  • Report Format: PDF
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Asia Pacific Residential Solar PV Module Market Trends

Rising energy demand has created an urge to invest in various sustainable resources including solar will stimulate the industry statistics. Rapid growth in renewable energy deployment has outpaced the conventional power capacity additions in many regions, with solar installations dominating the renewable technologies. Promising government incentives including auctions, tariffs and tax exemptions are likely to fuel investments across the solar industry. Additionally, declining technology prices primarily driven by economies of scale and global competition will drive the industry scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The Asia Pacific market for residential solar PV module was worth over USD 29.6 billion in 2023 and is anticipated to grow at a CAGR of 3.7% through 2032.

The on-grid segment is expected to surpass USD 31 billion by 2032. It offers cost-saving and economic benefits, allowing homeowners to feed excess electricity back into the grid, reducing utility bills through net metering programs.

The ground-mounted segment is projected to grow at over 11% CAGR through 2032. It offers flexibility to install larger solar arrays, allowing homeowners to generate more energy and achieve energy independence.

The China market for residential solar PV module is set to cross over USD 31.5 billion by 2032, due to aggressive policy support, technological advancements, and a focus on reducing electricity costs and air pollution.

Prominent players include Trina Solar, JA Solar, Canadian Solar, Amplus Solar, First Solar, and LONGi.

Asia Pacific Residential Solar PV Module Market Scope

  • Asia Pacific Residential Solar PV Module Market Size
  • Asia Pacific Residential Solar PV Module Market Trends
  • Asia Pacific Residential Solar PV Module Market Analysis
  • Asia Pacific Residential Solar PV Module Market Share

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    Premium Report Details

    • Base Year: 2023
    • Companies covered: 13
    • Tables & Figures: 20
    • Countries covered: 5
    • Pages: 100
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