Get a free sample of On Grid Solar PV Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Get a free sample of On Grid Solar PV Market
Thank you!
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
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.
Why is the commercial & industrial segment growing in the on-grid solar PV market?
The commercial & industrial segment is set to exceed USD 132 billion by 2034, due to the growing need to reduce carbon emissions, driving advancements in solar panel technology.
How big is the global on-grid solar PV market?
The global market for on-grid solar PV was reached USD 301 billion in 2024 and is estimated to grow at a CAGR of 8.1% from 2025 to 2034, driven by increased deployment of large-scale solar PV systems.
Who are the major players in the on-grid solar PV market?
Key players in the on-grid solar PV market include 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, and Yingli Solar.
What is the projected value of the U.S. on-grid solar PV market by 2034?
The U.S. on-grid solar PV market is likely to exceed USD 47 billion by 2034, supported by national and local government policies and financial incentives.