Rooftop Solar EPC Market Size - By Capacity (Up to 1 kW, 1 to 10 kW, 10 to 50 kW, 50 kW to 1 MW), By End Use (Residential, Commercial & Industrial), Competitive Analysis, Regional Outlook & Forecast, 2024 - 2032

Rooftop Solar EPC Market Size

Rooftop Solar EPC Market was valued at USD 116.6 billion in 2023 and is anticipated to grow at a CAGR of 4.5% from 2024 to 2032. Rooftop Solar EPC refers to the comprehensive process of Engineering, Procurement, and Construction for solar power systems installed on the rooftops of buildings. Rooftop Solar EPC is crucial because it allows for the turnkey delivery of solar power systems, enabling residential, commercial, and industrial property owners to easily adopt solar energy with minimal hassle.
 

The cost of solar panels and associated equipment has been steadily decreasing, making rooftop solar more affordable for a wider range of consumers. The financial returns from rooftop solar installations, including energy savings and potential revenue from selling excess power, will drive adoption among both homeowners and businesses, thereby augmenting the business dynamics. Furthermore, Companies are increasingly adopting rooftop solar as part of their sustainability strategies, aiming to reduce their environmental impact and meet corporate social responsibility (CSR) goals.
 

Ongoing integration of rooftop solar with energy storage systems is becoming more common, allowing for better energy management and resilience against grid outages will positively impact the industry statistics. Furthermore, the adoption of smart inverters and energy management systems is enabling better control and optimization of energy generation and usage, making rooftop solar systems more efficient and user-friendly, which will complement the product penetration. Some regions have introduced regulations requiring new buildings to include renewable energy solutions like rooftop solar, further driving the product adoption.
 

Rooftop Solar EPC Market Trends

The rooftop solar EPC industry is expected to continue growing, driven by technological advancements, increasing environmental awareness, and supportive government policies. The integration of energy storage and advancements in smart grid technology will further bolster the market's development. Increasing demand across various sectors including residential, small commercial buildings and industrial facilities along with technological advancements comprising of advances in solar panel efficiency will positively impact the business dynamics.
 

Rooftop Solar EPC Market Analysis

Based on capacity, the 10 to 50 kW segment is anticipated to cross more than USD 51.3 billion by 2032. Key factors including reduced energy costs and enhanced sustainability credentials will foster the industry growth. Owners of large homes and estates are installing these systems to achieve greater energy independence and potentially power additional energy-intensive amenities, such as electric vehicles, pools, or home offices. Many governments provide subsidies, tax credits, or grants specifically for small to medium-sized solar installations, making 10 to 50 kW systems more affordable, which will positively impact the product adoption.
 

Based on end use, the residential segment is set to grow more than 4.5% CAGR through 2032, owing Growing awareness of environmental issues and the desire to reduce carbon footprint. Homeowners are increasingly adopting rooftop solar systems to reduce their electricity bills. The integration of battery storage with rooftop solar allows homeowners to store excess energy generated during the day and use it during peak hours or at night, further enhancing energy independence. Further, adoption of policies that allow homeowners to sell excess energy back to the grid, often at favorable rates, make solar installations more financially viable, thereby driving the business scenario.
 

Europe rooftop solar EPC market is likely to exceed USD 54.5 billion by 2032, owing to strong commitment to renewable energy and sustainability. The European Union’s Green Deal, which aims to make Europe climate-neutral by 2050, has accelerated the adoption of rooftop solar. The initiative includes significant funding for renewable energy projects, including rooftop solar. Many European countries offer various incentives, such as feed-in tariffs, grants, and tax rebates, which encourage homeowners and businesses to invest in rooftop solar systems. In addition, increase in electricity prices across Europe has made rooftop solar an attractive option for homeowners looking to reduce energy costs will stimulate the industry statistics.
 

The U.S. Rooftop Solar EPC market is driven by technological advancements, policy support, and growing environmental awareness. Homeowners are increasingly aware of the long-term savings and environmental benefits of rooftop solar, leading to higher adoption rates. States like California, New York, and Massachusetts offer substantial incentives, including tax credits, rebates, and net metering policies, making solar more affordable which in turn complement the industry scenario.
 

Rooftop Solar EPC Market Share

The competitive landscape of the Rooftop Solar EPC (Engineering, Procurement, and Construction) market is shaped by various factors including the scale of operations, technological capabilities, regional focus, and the ability to offer comprehensive solutions. The market is highly competitive, with a mix of global giants, regional powerhouses, and innovative startups. The industry further offers various players with cost-effective, reliable, and innovative solutions while navigating complex regulatory landscapes.
 

Rooftop Solar EPC Market Companies

Eminent players operating in the Rooftop Solar EPC industry are:

• BELECTRIC
• Canadian Solar
• CHINT Group
• CJR Renewables
• Eternia Solar
• Goldi Solar, Inc.
• Jakson
• JUWI
• Mahindra Susten
• TATA POWER SOLAR
• VIKRAM SOLAR LTD.
• Waaree Energies Ltd.
   

Rooftop Solar EPC Industry News

• In March 2021, BELECTRIC was appointed as the EPC contractor for a large scale rooftop solar project by Cleantech Power in India. The photovoltaic (PV) project will have a total capacity of more than 100 MW and will be delivered in three phases. The first phase of close to 50 MW is already under construction. This will further enhance the company’s footprint as an EPC contractor across the economy.
   
• In August 2021, Eternia Solar was awarded the contract for 2 MW solar power project in Szprotawa, Poland. The project is owned by Sun Investment Group (SIG) and is anticipated to save around re expected to save around 2054 tons of CO₂ emissions per year and supply up to 650 households with electricity annually. Further, the PV farm is located near the households and is being built in harmony with local people, to consider their daily life and comfort.
   

This rooftop solar EPC market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Million & MW” from 2021 to 2032, for the following segments:

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Market, By Capacity

• Up to 1 kW
• 1 to 10 kW
• 10 to 50 kW
• 50 kW to 1 MW

Market, By Application

• Residential
• Commercial & Industrial

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
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
  • Poland
  • Belgium
  • Ireland
  • Baltics
  • Portugal
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Thailand
  • Philippines
  • Vietnam
  • Malaysia
  • Singapore
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
  • Kuwait
  • Turkey
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru