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North America On Grid Solar PV Market Trends

Report ID: GMI9813
Published Date: Jun 2024
Report Format: PDF

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North America On Grid Solar PV Market Trends

Broader shift towards renewable energy, advances in solar technology, integration of energy storage solutions and growing commitments to reduce greenhouse gas emissions and transition to renewable energy sources will complement the business landscape. Ongoing power purchase agreements (PPAs) with solar project developers and introduction of grants, incentives, and rebates will complement the market growth. In addition, many states in the U.S. have implemented Renewable Portfolio Standards (RPS), to source a certain percentage of their energy from renewable sources, which will influence the business statistics.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

North America on grid solar PV market size was valued at USD 26.81 billion in 2023 and is anticipated to grow at 6.1% CAGR through 2032, owing to the growing focus on clean electricity through various solar PV targets.

The residential segment in the North America on grid solar PV market is projected to exceed USD 9.01 billion by 2032, owing to policy incentives, technological advancements, and growing awareness of the environmental and economic benefits of the solar energy.

U.S. on Grid Solar PV market is anticipated to grow at over USD 41.26 billion by 2032, attributed to collaborative research projects by multiple universities and research institutions along with partnerships between academic institutions.

Canadian Solar, First Solar, GCL-SI, JA SOLAR Technology Co., Ltd, JinkoSolar, Indosolar, LONGi, Sunova Solar, Trina Solar, and 621 Energy.