The global rooftop solar panel market is anticipated to grow at a CAGR of nearly 8.2% during the forecast period. Market players are highly inclined towards the adoption of different growth strategies including capacity expansion, mergers and acquisitions, new product launches, and geographical expansion, to remain competitive in the marketplace. For instance, in January 2021, Leeward Renewable Energy, LLC, a renewable energy company, declared a purchase and sale agreement with First Solar, Inc. Under the agreement, leeward acquired a utility-scale solar project platform of approximately 10-gigawatts (GW) AC from First Solar.
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In addition, leeward acquired the US project development platform of the company, which includes the 773MW of the Rabbitbrush, Madison, Oak Trail, Horizon, and Ridgely projects. The construction of these projects is expected to occur in the next two years, as well as includes the 30 MWAC Barilla Solar project, which is operational. This acquisition will enable Leeward to expand its geographical footprint in the US. Further, in June 2020, Canadian Solar Inc. declared the launch of next-generation PV modules across the globe. This launch of the solar PV models propels solar energy to achieve ever lower Levelized cost-of electricity (LCOE). These strategic initiatives will further accelerate innovations in rooftop solar panels and thereby will drive market growth.
Global Rooftop Solar Panel Market Report Segment
By Type
- Monocrystalline Silicon Rooftop Solar Panel
- Polycrystalline Silicon Rooftop Solar Panel
- Thin-Film Rooftop Solar Panel
o Amorphous Silicon (a-Si)
o Cadmium Telluride (CdTe)
o Copper Indium Gallium Selenide (CIS/CIGS)
- Others
By End-User
- Household Sector
- Corporate Sector
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
