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Residential Solar Generator Market Size
- Report ID: GMI10446
- Published Date: Jul 2024
- Report Format: PDF
Residential Solar Generator Market Size
Residential Solar Generator Market size was valued at USD 413.6 million in 2023 and is estimated to grow at a rate of 11.3% from 2024 to 2032. The growing consumer awareness of environmental issues, combined with the rising demand for renewable energy sources will positively influence the business landscape. For instance, as per IEA, renewable energy capacity is set to expand at a significant rate driven by solar, wind, and hydropower projects.
A residential solar generator harnesses sunlight to generate electricity for homes offering a sustainable and renewable energy solution. It consists of photovoltaic panels mounted on the roof or in the yard, these systems convert sunlight into electricity through semiconductor materials. The generated electricity can be used directly to power household appliances or stored in batteries for later use. These systems contribute to reducing carbon footprints by decreasing reliance on fossil fuels and lowering electricity bills over the long term, making them a popular choice among environmentally conscious homeowners looking to embrace clean energy solutions.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Residential Solar Generator Market Size in 2023: | USD 413.6 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 11.3% |
| 2032 Value Projection: | USD 1.09 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 140 |
| Tables, Charts & Figures: | 40 |
| Segments covered: | Capacity, Phase & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Residential Solar Generator Market Scope
