Solar panel for home market is anticipated to grow at a CAGR of 7.5% during the forecast period. Rooftop solar photovoltaic (PV) is considered a secure investment for end-use customers against the fluctuating electricity price. The cost efficiency of rooftop solar systems favors their adoption in residential spaces which in turn driving the global solar panel for home market. Rooftop solar PV panels and related equipment includes inverters, meters, junction boxes, transformers, cables, batteries, and monitoring and mounting unit are gaining widespread adoption among customers owing to the flexible nature of on-grid and off-grid installation. The market is rapidly growing and is showing promising growth opportunities during the forecast period majorly coupled with the increasing demand for renewable energy and government subsidies for the adoption of solar panels in residential areas.
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The governments of different countries initiate policies to provide incentives to solar panel owners to reduce the installation cost load. Government support in the form of incentives, reduction in tariff, and tax credits are expected to offer ample opportunities for the growth of the solar panel for home market. Additionally, several economies around the globe are setting targets and introducing policies for promoting renewable energy and reducing greenhouse gas (GHG) emissions. As solar panels are installed directly on the roof, they do not require any additional land or space, making them an ideal choice for homeowners with limited available areas. Moreover, rooftop solar systems can be customized to meet the specific energy needs of each household, allowing for optimal energy generation. In addition, economies such as Australia and the US are developing solar cities. However, the high installation cost is acting as a restraining factor for the growth of the market.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Solar Panel for Home Market by Technology
- Thin Film
- Crystalline Silicon
Global Solar Panel for Home Market by Grid Type
- On Grid
- Off Grid
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Allpowers Industrial International Ltd.
- CSUN Solar Tech Co., Ltd.
- DelSolar Co., Ltd.
- Evergreen Solar, Inc.
- Hanwha Corp.
- Juwi AG
- Kyocera Corp.
- Motech Industries, Inc.
- Neo Solar Power Corp.
- Renesola Zhejiang, Ltd.
- Risen Energy Co., Ltd.
- Sharp Corp.
- Shenzhen Portable Electronic Technology Co., Ltd.
- Shunfeng International Clean Energy, Ltd. (SFCE).
- SoloPower Systems, Inc.
- SunEdison Inc.
- Tata Power Solar Systems Ltd.
- Trina Solar Energy Co., Ltd.
- Vikram Solar Ltd.
- Wuxi Suntech Power Co., Ltd.
- Yingli Green Energy Holding Company Ltd.
- Zhongli Talesun Solar Co., Ltd.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.Country-wise analysis of major geographical regions.
- Key companies operating in the global solar panel for home market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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