Japan rooftop solar panel market is estimated to grow considerably at a CAGR of around 7.3% during the forecast period. Japan is one of the leading countries in Asia-Pacific that contributes to the growth of the rooftop solar panel market. Japan has been considerably contributing to the growth of rooftop solar panel market. According to the International Energy Association, Japan contributes nearly 4% in the overall solar module production across the globe. Constant installations of solar panel in the country so as to increase the solar power capacity is one of the key factors which is contributing to the growth of the market. Supported through most attractive incentives and driven by FITs and utility-scale power plants, Japan is expected to create significant opportunities for the growth of the market in the future.
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As the trend increases across the country, it is expected to create opportunities for the growth of the market in the near future. Japan’s Government passed a FIT for business users and residential, requiring electric utilities to purchase excess solar power from these users in 2009. In 2012, a new FIT system was started by the government, based on the Renewable Energy Electric Procurement by Operators of Electric Utilities Law. According to the law, the regional electricity operators are required to connect renewable energy generation facilities to their grids and purchase the generated renewable energy at FITs. The FIT rate is 40 yen/kWh + sales tax (currently 5%), so the effective feed-in-tariff is 42 yen/kWh.
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The companies which are contributing to the growth of Japan rooftop solar panel market include Juwi Holding AG, Kaneka Corp., Kyocera Corp., Mitsubishi Corp., and Sharp Corp. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in June 2017, Sharp Corp. entered into an agreement with Impact Solar Ltd. to construct a roof-top solar system for Big C*1, one of Thailand’s hypermarket retailers.
Market Segmentation
Japan Rooftop Solar Panel Market by Type
- Monocrystalline Solar Panel
- Polycrystalline Solar Panel
Thin-Film Crystalline Solar Panel
- Amorphous Silicon (a-Si)
- Cadmium Telluride (CdTe)
- Copper Indium Gallium Selenide (CIS/CIGS)
Other Solar Panels
Japan Rooftop Solar Panel Market by End-User
- Household Sector
- Corporate Sector
