Commercial & Industrial Solar PV Market Size - By Connectivity (On Grid, Off Grid), By Mounting (Ground Mounted, Roof Top), Regional Outlook & Global Forecast, 2025 – 2034

Commercial & Industrial Solar PV Market Size

The commercial & industrial solar PV market size was valued USD 63.2 billion in 2024 and is anticipated to reach USD 164.1 billion by 20234, growing at a CAGR of 10.1% from 2025 to 2034. 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 commercial & industrial solar PV market statistics. For instance, in 2022, introduction of renewable energy target by Saudi Arabia, which highlights the set deployment of 40 GW by the year 2030.
 

Improvements in energy security, abundant resource availability, and cost competitiveness have significantly impacted the market potential. The eminent market players are continuously focusing to develop advanced and cost-effective components for solar PV backed by favorable fundings by the global organizations in the form of incentives and subsidies.
 

The industry is witnessing immense competition between global and regional players on account of the current technological advancements with rapid innovations and declining costs. The leading market participants, including First Solar, Jinko Solar, Trina Solar, and JA Solar, are focused on bulk manufacturing practices to gain a competitive edge in the global market. Further, inorganic growth ventures along with strategic partnerships owing to continuous investments in research, design and development activities will impact the business growth.
 

Commercial & Industrial Solar PV Market Trends

• 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 commercial & industrial solar PV market landscape. For instance, the South African Photovoltaic Industry Association is promoting the safe and quality solar PV installations across the commercial scale.
   
• 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. For instance, according to IEA, in 2021, the new generation capacity from solar contributed to 26% in China.
   
• 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 market is segmented into on grid and off grid. The commercial & industrial solar PV industry amounted to USD 35.7 billion, USD 58.4 billion and USD 63.2 billion by 2022, 2023 and 2024 respectively.
   
• The on-grid segment is anticipated to reach more than USD 160 billion by 2034. 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 commercial & industrial solar PV market 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.
   
• The off-grid segment will showcase more than 17% CAGR from 2025 to 2034 owing to growing demand for renewables across regional peripherals to turn solar into usable electricity. Advanced distributed generation technologies along with rapid expansion of sustainable microgrid networks to enhance local self-sufficiency & resilience will positively influence the industry dynamics.
   

• Based on mounting, the ground mounted accounted for over 53.6% share of the commercial & industrial solar PV market in 2024 on account of greater control over the orientation of the arrays. Ongoing technology-based tenders and power purchase agreements, convenience of placement, cost advantages coupled with higher efficiency and ease of accessibility will stimulate the demand for ground mounted systems.
   
• The rooftop segment is set to grow at a CAGR of more than 9% through 2034 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. For instance, in September 2022, the government of Germany introduced tax breaks to support rooftop solar PVs.
   
• The cost improvements, along with the increasing efficiency of solar panels, enhance the return on investment for businesses, thereby augmenting 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.
   

• The U.S. commercial & industrial solar PV market amounted to USD 2.5 billion, USD 3.1 billion and USD 2.9 billion in 2022, 2023 and 2024 respectively. The North America market accounted for 5% of the revenue share in 2024 owing to 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. For instance, in October 2022, First Solar announced its plans to invest around USD 270 million in a R&D facility centre in the U.S. The innovation centre aims to upgrade the development of advanced thin-film PVs.
   

• Europe Commercial & Industrial solar PV market is likely to exceeded USD 47 billion by 2034. 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.
   
• Asia Pacific market will grow owing to government measures to effectively cater to the growing electricity requirements. Rising requirement for additional power generation capacities owing to major areas being unelectrified, high global radiation levels, and high-power generation costs on account of heavy reliance on fossil fuels will contribute to industry growth.
   
• For instance, in June 2022, the Japan’s Ministry of Environment introduced a rebate scheme for the expansion of solar projects on water reservoir, farmland, and waste disposal areas. The authorities aim to provide a rebate of USD 2,350/kW for solar projects ranging from 10 kW to 50 kW and USD 1,394/kW for projects above 50 kW.
   

Commercial & Industrial Solar PV Market Share

• Top 3 players operating in the market include Jinko Solar, Canadian Solar and Jinko Solar. The solar photovoltaic (PV) market is rapidly growing and changing due to partnerships that support technology development, market penetration, and supply chain management.
   
• A high degree of innovation is achieved and an increase in production and sustainable supply chain is attained through the technological collaborations. These collaborations are necessary for the increasing worldwide consumption of solar energy and achievement of climate targets.
   

Commercial & Industrial Solar PV Market Companies

• EMMVEE Solar develops and manufactures solar thermal systems and mono-crystalline & poly-crystalline modules. It has extended its business profile for the development and EPC of PV projects in India and Europe. It further entered in an agreement with Hero Future Energies to supply 600 MWp of high-efficiency solar modules over a two-year period in India.
   
• JA Solar designs, manufactures, and sells high-performance solar power products. The company manufactures solar PV products and offers monocrystalline and multi-crystalline solar cells & modules in a variety of specialties & standards. The company recorded a revenue of USD 11.2 Billion in 2023. In addition, the company recently was announced the Top 10 Highest Efficiency Mass-Produced Module Manufacturers in the Top Solar Modules 2024 report.
   
• Renesola is a leading developer & operator of solar projects. It also provides clean & renewable energy for commercial, industrial, residential and utility consumers. Further, the company unveiled its TWIN 3.0 series with a rated power of up to 550 Wp and an efficiency of 21.5%. It has been recognized by the market as the power of the module can reach 555 W and the efficiency by 21.5%.
   

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

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

Commercial & Industrial Solar PV Industry News

• In February 2024, Emmvee Inks signed a contract with KPI Green Energy to supply solar PV Modules. The 300 MW Bifacial MonoPERC solar panels are earmarked for a 240 MW solar plant in the state of Gujarat. The company’s plan of expanding its production facilities is in line with its commitment to increase the supply of competitive clean energy options.
   
• In March 2024, JA Solar signed a contract for the supply of PV Modules to the largest solar PV Project in Chile. The CEME1 project of 480 MW capacity is expected to produce one billion kWh of electricity every year. This project will also add clean energy to around 400,000 homes and is projected to eliminate 280,000 tons of carbon dioxide emissions annually.
   
• In August 2022, Canadian Solar’s subsidiary, CSI Solar, signed an investment agreement with the municipal government of China’s Qinghai province. Under the agreement, the company plans to construct a facility of around 50,000-ton capacity of high purity polysilicon with the aim to establish an industrial-scale solar manufacturing park in Haidong and start the production by 2024. This agreement marked the company’s presence at the global level and established a strong position across the industry.
   
• In April 2022, Jinko Solar deployed its bifacial ultra-efficient modules for the 204 MW solar power plant, located in Greece, Europe. The company delivered 500,000 modules for the Europe’s biggest bifacial project, the Kozani project which consists of eighteen project sites and will provide 320 million kWh per year of energy, thereby delivering electricity to over 75,000 households. The deployment strengthened the company the company to showcase its portfolio across the European market and maintain a strong position in industry.
   

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 2034, 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
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru