Home > Energy & Power > Electrical Equipment > Solar Parts and Components > On Grid Residential Solar PV Module Market

On Grid Residential Solar PV Module Market Trends

Report ID: GMI11462
Published Date: Sep 2024
Report Format: PDF

Download Free Sample

On Grid Residential Solar PV Module Market Trends

Solar financing options, including solar leases, power purchase agreements (PPAs), and solar loans, will make it easier for homeowners to install solar without high upfront costs. These financing models allow consumers to pay for solar overtime, often with little or no initial investment which will stimulate the industry statistics. Local companies are developing innovative solar products and financing solutions tailored to specific needs, including affordable solar solutions for low-income households, thereby stimulating the product demand. Further, growing focus on integrating solar PV systems into residential buildings and high-rise apartments will strengthen the market landscape.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of on grid residential solar PV module market size was worth over USD 58.1 billion in 2023 and is anticipated to grow at a CAGR of 4.7% through 2032, owing to the presence of higher-efficiency modules that allow homeowners to generate more electricity from the same roof space.

Rooftop segment is anticipated to cross more than USD 78 billion by 2032, due to the policies that allow homeowners to sell excess electricity back to the grid can improve the financial viability of rooftop solar systems by providing additional income or credits.

Asia Pacific on grid residential solar PV module market is set to reach more than USD 39.5 billion by 2032, driven by technological advancements, favorable policies, and growing electricity prices.

CHINT Group, Canadian Solar, First Solar, Indosolar, JA SOLAR Technology, and JinkoSolar among others.