On Grid Solar PV Market Size – By End Use (Residential, Commercial & Industrial, Utility), & Forecast, 2025 – 2034

On Grid Solar PV Market Size

The global on grid solar PV market was valued at USD 301 billion in 2024 and is estimated to grow at a CAGR of 8.1% from 2025 to 2034. An on-grid solar PV system is a solar power system that is connected to the local electricity grid. These systems allow excess solar energy to be sent back to the grid, providing energy credits or financial compensation through programs like net metering.
 

The on-grid solar PV system directly channels generated electricity into the grid, ensuring smooth integration with the current power infrastructure. Features like synchronizing solar power with grid frequency and voltage, along with the ability to earn credits through net metering, are set to boost product adoption. Potential savings from avoiding extra investments in storage batteries and their maintenance, alongside ongoing research and development efforts will influence the market statistics.
 

Supportive policies and standards are being introduced to ensure regulatory stability, and government incentives to boost investments in solar energy systems will drive the business scenario. Improved manufacturing processes and economies of scale has made on-grid solar systems more affordable for residential, commercial, and industrial customers. Additionally, rising electricity demand and consumer preferences for systems that reduce electricity bills are set to bolster industry statistics.
 

On Grid Solar PV Market Trends

Government authorities are bolstering business potential through the introduction of new norms and mandates, alongside enhancements to building infrastructures. The business landscape is being enriched by robust partnerships between private and public sectors, coupled with a surge in regional manufacturers. Rising consumer preference for clean energy, combined with the export of expertise and technology to global markets, is favorably influencing industry statistics. Growing adoption of clean and renewable energy and a concerted effort to lessen reliance on fossil fuels is set to drive the industry momentum. Moreover, heightened concerns over climate change and a shift towards sustainable energy have amplified the demand for solar power, reshaping the market landscape.
 

On Grid Solar PV Market Analysis

Based on end use, the commercial & industrial segment is set to cross USD 132 billion by 2034, on account of growing need to reduce carbon emissions driving advancements in solar panel technology. Products that offer stability, compatibility, and high-power generation will continue to support business trends. Introduction of net metering policies allow businesses with on-grid solar systems to send excess power back to the grid, earning credits that can offset future electricity usage, augmenting the business landscape. In addition, set ambitious renewable energy targets, drive both public and private investments in on-grid solar power, stimulating market growth.
 

Rising residential energy costs and increasing environmental concerns, will influence a growing number of homeowners to on-grid solar PV systems. Reduced electricity bills, energy independence, and the opportunity to earn by selling surplus energy back to the grid either through net metering or power purchase agreements will drive the market growth. Various financing options, such as solar leases, power purchase agreements and solar loans, has made on-grid solar more accessible to homeowners thereby driving the product demand.
 

The U.S. on grid solar PV market is likely to exceed USD 47 billion by 2034. National and local governments worldwide have introduced policies and financial incentives to encourage the adoption of on-grid solar PV. These include tax credits, rebates, and grants for residential and commercial solar systems. For instance, the Investment Tax Credit (ITC) in the U.S. provides significant tax incentives for solar installations. On-grid solar systems are increasingly being integrated with smart grid technology allowing for better monitoring, management, and distribution of electricity, ensuring that solar energy is utilized efficiently, stimulating the product penetration.
 

Moreover, hybrid system integrated with battery storage systems supports improve energy reliability and reduces reliance on the grid during peak demand times, strengthening the market growth.
 

On Grid Solar PV Market Share

The on-grid solar PV industry is highly competitive, with numerous players involved across different aspects of the value chain, from manufacturing solar panels and inverters to providing installation, maintenance, and financial solutions. Companies are seeking to reduce their carbon footprint, lower energy costs, and secure energy supply against rising utility prices. Major corporations have committed to powering their operations with renewable energy, including on-grid solar.
 

On Grid Solar PV Market Companies

Eminent players operating in the on grid solar PV industry are:

• Canadian Solar
• CsunSolarTech
• EMMVEE SOLAR
• First Solar
• JA SOLAR Technology Co., Ltd.
• Jinko Solar
• LG Electronics
• Q CELLS
• REC Solar Holdings AS
• Renesola
• Shunfeng International Clean Energy
• Solaria Corporation
• Solar Frontier KK
• Trina Solar
• Yingli Solar
   

On Grid Solar PV Industry News

• In April 2023, Sunova Solar delivered 16,000 HI-Milo 550W modules for two grid-connected PV power plants in Romania. These PV modules, featuring high efficiency and PERC technology, come at an affordable price. The projects target a power output of 11.5 TWh, enough to energize 3,000 residences and offset 11,000 tons of carbon emissions. As a result, Sunova has bolstered its portfolio with large-scale projects, solidifying its stance in the grid-connected solar PV sector.
   
• In November 2022, Jinko Solar supplied 766 MW of bifacial solar PV modules to Brazil's grid-connected Sol do Cerrado solar project. This project is set to harness 182 advanced bifacial double-glass modules, guaranteeing steady power output. Furthermore, the plant is developing a 15km, 230 kV transmission network. This network will connect the sub-solar parks of Sol do Cerrado and Jaíba, channeling power directly to the national grid. As a result, this delivery bolsters Jinko Solar's foothold in Brazil and propels its market expansion.
   

This on grid solar PV market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million and MW ” from 2021 to 2034, for the following segments:

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Market, By End Use

• Residential
• Commercial & Industrial
• Utility

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
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
• Africa
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Chile