Residential Solar EPC Market Size

Residential Solar EPC Market Size

Residential Solar EPC Market was valued USD 87.35 billion in 2023 and is anticipated to grow at a CAGR of 4.6% between 2024 and 2032. It is a term used in the solar energy industry to describe the comprehensive service provided by a company or contractor that oversees the design, procurement of materials, and construction of solar power plants. The contractors play a crucial role in residential solar power projects, handling the end-to-end process of installing solar systems on homes, ensuring that the project is completed efficiently and meets all necessary standards.

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Homeowners are increasingly opting for solar energy due to rising electricity prices and falling costs of solar panels and installation. Government incentives, tax credits, and rebate programs coupled with Advancements in solar technology will augment the industry landscape. Additionally, businesses are investing in solar energy to reduce operating costs and meet sustainability goals will drive the industry dynamics.
 

Growing commitment to renewable energy targets driven by renewable energy mandates and the decreasing cost of large solar installations will drive the business scenario. Innovations in solar panel efficiency, such as bifacial panels and advanced photovoltaic materials, are improving energy yield, thereby augmenting the product demand. Furthermore, rapid growth in solar adoption primarily in countries with high solar potential and growing energy needs will complement the industry landscape.