According
to this report, the global rooftop solar PV market was valued at USD
1,798.1 million in 2014 and is anticipated to reach USD 4,584.3
million by 2023 at a CAGR of 11.0% from 2015 to 2023.
Browse
Rooftop Solar PV Market Research Report:
http://www.transparencymarketresearch.com/rooftop-solar-pv-market.html
Rooftop
solar PV panels are mounted over rooftops of residential or
commercial buildings. These panels have off-grid and on-grid
electricity generation capability. Rooftop solar PV systems provide
effective tool for capturing solar radiation for generating
electricity in an emission-free, environment-friendly manner. Rooftop
solar PV technology has existed since a long time but has recently
witnessed adoption on a large scale with the advent of FITs and net
metering policies. Rooftop solar PV systems consist of two parts:
solar PV panels and balance of system. Solar panels are made of
silicon wafer and are of two types: monocrystalline and
polycrystalline. A balance of system usually consists of
transformers, electricity systems, and monitoring and mounting
equipment along with mounting and installing modules. Rooftop solar
PV systems are increasingly being utilized due to their off-grid and
on-grid flexibility. Demand for clean and renewable source of energy
reaching an all-time high has contributed to the development and
growth of the rooftop solar PV market. Rooftop solar PV is an
efficient method for generating electricity from solar radiation
without using fossil fuels. The market for rooftop solar PV has been
rapidly increasing with the support of government subsidies and tax
credits. The rooftop solar PV market have attracted large number of
equity investments and funding. Many rooftop solar PV companies have
launched IPOs through their new-formed YieldCos. Increasing rooftop
solar PV market is considered critical for reducing carbon footprint.
In
terms of geography, the rooftop solar PV market has been segmented
into four regions: North America, Asia Pacific, Europe, and Rest of
the World. North America was the largest market for rooftop solar PV,
accounting for 38.9% share in 2014. The U.S. leads the rooftop solar
PV market in North America, with the government promoting rooftop
solar PV systems by offering tax credits and incentives. California,
a state in the U.S., leads in terms of rooftop solar PV installations
and has several tax incentives available for residential and
commercial buyers.
Europe
follows North America with Germany as a leading country, with the
highest number of rooftop solar installations in Europe. Asia Pacific
was the third-largest market for rooftop solar PV, in terms of market
share, in 2014. China and Japan are the leading countries with major
rooftop solar PV projects in Asia Pacific. Asia Pacific also houses
headquarters of several large rooftop solar PV companies. The market
in Rest of the World is likely to grow at a significant rate with
anticipated increase in commercial projects across South Africa,
Chile, and Brazil in the near future.
Rooftop
Solar PV Market: By End-use Type
- Residential
- Commercial
Rooftop
Solar PV Market: By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Browse
Press Release:
http://www.transparencymarketresearch.com/pressrelease/rooftop-solar-pv-market.htm
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