Currently, solar rooftop panels are gaining a wide attention owing to their efficiency and lost cost electricity generation capacity. The main application of solar rooftop panels is to convert solar power into usable AC power. Solar rooftop panels enable safe and noiseless power generation, which makes them quintessential product in today’s world.
A gradual fall in the prices of industrial commodities used to manufacture solar panels, and the rising inflation in electricity and natural gas sector in the coming decade, are the major driving factors for the growth of the solar rooftop sales market in forecast period. Rise in electricity prices combined with cheaper solar rooftop sales will also drive the solar rooftop sales market, majorly. Some restraints of the market are its incapability to perform at night without backup, disturbance during certain abnormal climatic conditions such as cloudy weather even in daytime and expensive solar technologies.
The global solar Rooftop Sales market has been analyzed based on capacity, connectivity, end-users and regions. On the basis of capacity, the global solar Rooftop Sales system market has been segmented as >10 kW, 11 kW- 100kW and <100 kW. Based on connectivity, it is classified as, on-grid and off-grid. Based on end-users, it is further classified as residential, commercial and industrial. The Global Solar Rooftop Market is expected to grow at a CAGR of 20.14% during the forecast period.
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The key players of global solar rooftop market are SMA Solar Technology AG (Germany), Trina Solar (China), Yingli Green Energy Holding Company Limited (China), Canadian Solar Inc. (Canada), Jinko Solar (China), SolarWorld AG (Germany), SunPower Corporation (U.S.), Shunfeng International Clean Energy Limited. (China), Tata Power Solar Systems Limited (India), Delta Energy Systems (Germany), JA Solar Holdings Co., Ltd. (China) and ABB Ltd. (Switzerland).
Global Solar Rooftop Market
Geographically, the market has been segmented into four major regions such as North America, Asia-Pacific, Europe and Rest of the World. Among these regions, Asia-Pacific has emerged as the leading region in terms of value and volume, followed by Europe and North America. In 2016, Asia-Pacific solar installation capacity accounted for 144.8 GW, whereas Europe and North America were accounted for 102.1 GW and 35.6 GW, respectively. In Asia-Pacific region, China and Japan are the major dominating countries, whereas, India is projected to witness significant growth in the upcoming years.
11 kW- 100kW rooftop solar system segment by capacity is expected to dominate the market
Currently, 11 kW- 100kW rooftop solar system segment by capacity, holds the largest market share and is expected to grow at the highest growth during the forecast period. A rooftop solar system ranging with a power capacity from 11 kW- 100 kW are the best investment for commercial and small-scale industry. A modern-day 100 kW rooftop solar system will be comprised of between 380-410 panels and will require about 600-656 m2 of roof space, depending upon the wattage of the panels. Reported pricing, for PV system installations, completed by project-level data from U.S. Department of Energy SunShot Initiative in January 2017, were about USD 3.78/W (Median) for commercial installation of over 10 kW to 100 kW.
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