Commercial & Industrial Solar PV Market Size - By Connectivity (On Grid, Off Grid), By Mounting (Ground Mounted, Roof Top), Regional Outlook & Global Forecast, 2024 – 2032

Commercial & Industrial Solar PV Market Size

Commercial & Industrial Solar PV Market was valued at USD 57.1 billion in 2023 and is anticipated to grow at a CAGR of 6.4% from 2024 to 2032. It refers to the deployment of solar panels on buildings and facilities used for business operations, manufacturing, warehousing, and other industrial activities. These installations help businesses generate their own electricity from solar energy, reducing reliance on grid power and lowering energy costs.
 

Net metering policies allow the solar PV system owners to feed excess electricity back into the grid in exchange for credits, which can be used to offset future electricity consumption. This will improve the economic viability of solar PV installations which will augment the product demand. Various funding and national programs provide grants and subsidies for renewable energy projects necessary to reduce the initial capital costs which is set to propel the market statistics.
 

Reduced financial burden, enhanced economic returns, and long-term stability for solar investments will drive the product demand. Growing focus toward renewable energy, introduction of policies will continue to evolve and stimulate the solar PV adoption. Rising carbon pricing mechanisms, including carbon taxes and emissions trading systems, improve the competitiveness of renewable energy sources like solar PV? which will augment the market landscape.
 

Commercial & Industrial Solar PV Market Trends

Growing commitment of the corporations to 100% renewable energy goals, including the introduction of RE100 initiative driven by the economic benefits of lower energy costs and enhanced energy security? will drive the market growth. Increasing number of incentives including the Investment Tax Credit (ITC) along with rising electricity rates, make solar investments more attractive, thereby? contributing to product penetration. Furthermore, ongoing integration of advanced PV technologies along with solar trackers and energy storage solutions, is set to enhance the efficiency and output of C&I solar projects.
 

Commercial & Industrial Solar PV Market Analysis

Based on connectivity, the on grid segment is anticipated to cross more than USD 95 billion by 2032. Innovations in battery storage and smart energy management systems addressing the intermittency of solar power, will enhance the reliability and efficiency of grid connected solar PV systems, which will strengthen the industry growth. Furthermore, significant investments to upgrade and expand the electricity transmission and distribution networks to ensure efficient integration of renewable energy sources? is set to influence the product adoption.
 

Based on mounting, the roof top is set to grow at a CAGR of more than 6% through 2032, on account of decreasing costs, supportive policies, and rising electricity rates. Advancements in solar technology and reductions in the cost of solar panels and installation have made rooftop solar more attractive for commercial establishments. These cost improvements, along with the increasing efficiency of solar panels, enhance the return on investment for businesses, thereby augmenting the industry growth. Additionally, tax credits, grants, and favorable net metering policies play a crucial role in making the solar installations financially viable for commercial entities?, contributing to the overall business momentum.
 

Europe commercial & industrial solar PV market is likely to exceed USD 28.5 billion by 2032. Strong policy support, comprising policies for solar installations on multifamily buildings will foster the product demand. Favorable climates and strong governmental incentives along with introduction of specific mandates for solar installations on commercial buildings will drive the business scenario. In addition, long-term targets with the EU aiming to significantly ramp up solar capacity to meet climate goals and reduce carbon emissions will strengthen the market landscape.
 

In the U.S., key factors including favorable net metering policies in states like California and increased utility-scale installations will drive the market growth. Collaborations between domestic and international companies crucial to meet the energy demand and navigating regulatory challenges? will augment the industry landscape.
 

Commercial & Industrial Solar PV Market Share

The solar photovoltaic (PV) industry is experiencing significant growth and transformation, with numerous collaborations aimed at enhancing technology, expanding market reach, and ensuring supply chain resilience. It is marked by dynamic collaborations driving technological advancements, expanding production capacity, and ensuring a resilient and sustainable supply chain. These partnerships are crucial for meeting the growing global demand for solar energy and achieving climate goals.
 

Commercial & Industrial Solar PV Market Companies

Eminent players operating in the commercial & industrial solar PV industry are:

• Canadian Solar
• CsunSolarTech
• EMMVEE SOLAR
• JA SOLAR Technology Co., Ltd.
• GCL-SI
• Jinko Solar
• Motech Industries Inc.
• LONGi
• Q CELLS
• Renesola
• REC Solar Holdings AS
• Risen Energy Co., Ltd.
   

Commercial & Industrial Solar PV Industry News

• In February 2024, Emmvee Inks entered into an agreement to supply solar PV modules to KPI Green Energy. The 300 MW of Bifacial MonoPERC solar panels are for the 240 MW solar plant in Gujarat. The strategic capacity enhancement is in synchronization with the vision of the company to meet with the growing demand for clean energy solutions.
   
• In March 2024, JA Solar entered into an agreement to supply PV Modules to the largest solar PV Project in Chile. The 480 MW CEME1 project will generate one billion kWh of electricity annually. It will further provide clean energy to nearly 400,000 households and is anticipated to reduce carbon emissions by 280,000 tons every year.
   

This commercial & industrial solar pv market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Billion & MW” from 2021 to 2032, for the following segments:

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Market, By Connectivity

• On Grid
• Off Grid

Market, By Mounting

• Ground Mounted
• Roof Top

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
  • Poland
  • Belgium
  • Ireland
  • Baltics
  • Portugal
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Thailand
  • Philippines
  • Vietnam
  • Malaysia
  • Singapore
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
  • Kuwait
  • Turkey
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru