Rooftop Solar PV Module Market
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The global rooftop solar PV module market size was valued at USD 132.1 billion in 2024 and is estimated to grow at a CAGR of 7.9% from 2025 to 2034. This refers to a solar panel system mounted on the roof of a structure to harness solar energy through photovoltaic technology. Such modules comprise of solar cells that incorporate semiconductor materials like silicon, which capture sunlight and create electric current. These modules are suitable for installation in residential, commercial and industrial structures which allows for generation of renewable energy for self-usage or for feed back to the grid.
The increased concern of climate change together with the need to reduce the greenhouse gas emission will further ease the transition towards renewable energy sources, driving the business statistics. The demand for photovoltaic (PV) solar systems coupled with the increasing penetration of more efficient power generation technologies, will strengthen the market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Rooftop Solar PV Module Market size in 2024: | USD 132.1 Billion |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7.9 |
| 2023 Value Projection: | USD 277 Billion |
| Historical Data for: | 2021 - 2024 |
| No of Pages: | 115 |
| Tables, Charts & Figures: | 35 |
| Segments Covered: | Technology, Product, Connectivity, End Use and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Increased favorable government spending together with new policies that offer incentive for modern energy solutions, in addition to rules that are stringent will increase the product adoption. For instance, the Indonesian government formulated a new regulation through the Ministry of Energy and Mineral Resources to encourage the use of rooftop solar. This regulation provides for long periods for unused credit offset, integration of information online, trading of carbon credits and PV systems on the rooftop that are based on digital means.
The significant rise in traditional electricity costs will lead to less dependence on grid oriented power and hence a higher product adoption rate. Increased concern of global warming and climate change alongside emission reduction needs with usage of clean energy will aid the industry growth. Additionally, the growing use of rooftop solar systems and smart grid technologies, improved energy and efficiency management will increase the product penetration.
Based on product, the amorphous silicon module will cross over USD 6.3 billion by 2034. These modules are thinner and lighter than typical crystalline silicon versions, hence more flexible allowing them to be used in a wide variety of structures. Additionally, these systems not only provide decentralized energy solutions, but they also enhance energy resilience during natural disasters and power outages. The industry growth is fueled by the ability to supply electricity generated on-site during such situations, constituting a favorable business scenario.
Based on technology, the thin film segment of the rooftop solar PV module market is anticipated to grow at over 11% through 2034. Growing requirement for more lightweight and adaptable solar panel technology, which is quite easy to use and install on roofs will surge the product demand. This further allows the systems to install on roofs with unusual shapes, for instance, curved roofs that cannot be installed with conventional panels. Furthermore, the recent improvements in thin film technology aiming at increasing their energy conversion efficiency together with enhanced material will support the business outlook.
The U.S. rooftop solar PV module market is anticipated to reach more than USD 21.5 billion by 2034. Growing government incentives for increasing the adoption of rooftop solar pv including the Investment Tax Credit (ITC) which provides a 30% tax reduction on the installation of solar systems will support the market expansion. Increased energy security concerns due to supply chain issues and natural disasters, will increase consumers’ requirement for rooftop solar adaptability and durability.
In Europe, there are ongoing efforts in research and development to improve the energy output and cut down carbon emissions will promote the product adoption. For instance, in March 2023, the European Parliament ordered all new homes to be equipped with solar rooftop systems by 2028, with residential buildings being refurbished by 2032. Moreover, increasing effort towards decarbonization will make the use of rooftop solar as an integral way of achieving these objectives resulting in market growth.
Key players are forming partnerships with area distributors, contractors and installation firms in order to increase their coverage. Many players are changing their business models towards being customer-centric, such as through financing, maintenance services or energy-as-a-service offerings. This helps lower the initial investment amounts for customers and ties them to the brand for a long period of time. Also, companies are engaging in regional expansion and moving to new breeding grounds that have favorable conditions for the solar market in order to widen their reach.
Eminent players operating in the rooftop solar PV module industry are:
Market, By Technology
Market, By Product
Market, By Connectivity
Market, By End Use
The above information has been provided for the following regions and countries:
The U.S. rooftop solar PV module market is projected to surpass USD 21.5 billion by 2034, led by government incentives like the Investment Tax Credit (ITC) and increasing concerns over energy security.
Key players in the industry include Canadian Solar, EMMVEE SOLAR, Hanwha Group, Indosolar, JA Solar Technology, JinkoSolar, LONGi, Motech Industries, REC Solar Holdings, RENESOLA, Risen Energy, Shunfeng International Clean Energy, SunPower Corporation, Trina Solar, Vikram Solar, and Yingli Solar.
The amorphous silicon segment is expected to exceed USD 6.3 billion by 2034, as its thinner and lighter design offers greater flexibility, making it suitable for diverse building installations.
The thin film technology segment is anticipated to grow at over 11% CAGR through 2034, supported by rising demand for lightweight, flexible panels and advancements in energy conversion efficiency.
The global market for rooftop solar PV module was reached USD 132.1 billion in 2024 and is projected to grow at a 7.9% CAGR from 2025 to 2034, driven by favorable government schemes and stringent clean energy targets.