The
global rooftop solar PV market has been exhibiting a positive growth
recently. The high efficacy of rooftop solar PV systems, coupled with
the subsiding energy payback time, which is supported by various
subsidies and tax rebate by several governments across the globe, are
the key factors fuelling demand from the market. According to a
market study, published by Transparency Market Research (TMR) in
2014, the global market for rooftop solar PVs stood at US$1.7 bn.
In-depth
research report on Rooftop Solar PV Market with Full
TOC at :
http://www.transparencymarketresearch.com/rooftop-solar-pv-market.html
The
decline in costs associated with batteries is likely to fuel the
demand of rooftop solar PV systems over the next few years. The
rising acceptance of distributed PV technology in the global arena is
also expected to add significantly to the growth of the worldwide
rooftop solar PV market. Analysts at TMR estimate the global market
to expand at a healthy CAGR of 11.0% during the period from 2015 to
2023 and reach a value US$4.5 bn by the end of 2023. However, the
dearth of strong smart grid infrastructures and net metering policies
can hamper the growth of this market in the near future.
Residential
Building Segment Reports Highest Demand for Rooftop Solar PVs
The
leading end user of rooftop solar PV systems are the residential
buildings and commercial buildings segments. In 2014, the residential
building segment reported the maximum demand for rooftop solar PVs,
accounting approximately 61.2% of the overall market.
The
availability of financial leasing, rebate on taxes, third-party
models, and net metering has propelled the residential building
segment to emerge as the biggest end user of rooftop solar PV
systems. The commercial building segments is also significantly
aiding the growth of the global rooftop solar PV market on account of
increased installations in government buildings.
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The
U.S. Drives North America Rooftop Solar PV Market
The
global market for rooftop solar PV is spread across North America,
Asia Pacific, Europe, and the Rest of the World. North America, among
these regions acquired the leading position in 2014, holding almost
39% of the overall market.
This
regional market is largely driven by the rooftop solar PV market in
the U.S in terms of production. California, on the other hand,
dominates the North America market in terms of installation. Various
offers by the U.S. government, promoting rooftop solar PV systems,
such as tax rebate are also boosting the rooftop solar PV market in
North America.
Europe
occupied the second position in the global rooftop solar PV market in
2014. Germany leads the Europe rooftop solar PV market, since the
country has substantial funds for the development of this market.
Asia Pacific stood third among the regional rooftop solar PV markets
in the same year. This regional market is dominated by Japan and
China with key rooftop solar PV projects.
Global
Rooftop Solar PV Market: Major Players
SolarCity
Corp., Jinko Solar Holding Co. Ltd., Vivint Solar Inc., Rina Solar
Ltd., Shunfeng International Clean Energy Ltd., Yingli Green Energy
Holding Co. Ltd., SolarWorld AG, Canadian Solar Inc., Hanwha Q CELLS
Co. Ltd., JA Solar Holdings Co. Ltd., SunPower Corp., and Sungevity
are some of the prominent players in the global rooftop solar PV
market.
Browse
Press Release:
http://www.transparencymarketresearch.com/pressrelease/rooftop-solar-pv-market.htm
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Us
Transparency
Market Research (TMR) is a global market intelligence company
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exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insights for decision makers. TMR’s
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and analyze information.
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