Growing adoption of rooftop solar photovoltaics (PV) panels in residential and commercial installations for generation of power using solar energy and increased investment by major players in the solar energy industry for the development of rooftop solar PV panels are the key trends witnessed in the global rooftop solar PV market. This increasing adoption is favored due to regulatory policies, development of infrastructure, high gross domestic product (GDP) growth, large consumer base, low cost of power generation, and sustainable energy requirements in emerging economies such as China and India.
Get a sample copy of this report: https://www.psmarketresearch.com/market-analysis/rooftop-solar-pv-market/report-sample
The rooftop solar PV market is expected to be driven by government policies and initiatives. Additionally, increasing demand for solar PV panel from different regions has led to the production of cheap modules and thereby, caused a decline in prices of solar modules globally. This is expected to further assist in capacity additions of solar PV installations in the future.
The rooftop solar PV market continues to depend on different incentive mechanisms such as technology-specific renewable portfolio standards (RPSs), tenders, tax credits, traditional feed-in tariffs or power purchase agreements (PPAs), as well as premiums for the feed-in of excess power generated in self-consumption systems. Government and private companies are expected to garner adoption of these modules by residential and commercial installations, thereby, driving their demand in the future.
On basis of application
The rooftop solar PV market is bifurcated into on-grid and off-grid. Historically, the off-grid held a significant share in the market. This is due to additional costs of integrating systems to grids and application of supply management infrastructure such as meters, transport cables, and management systems for integration to grids.
Make enquiry before purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=rooftop-solar-pv-market
Based on region
The rooftop solar PV market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Globally, Europe held a significant share in the market during the historical period, owing to high adoption of solar energy and increasing compliance for green energy in the region. In addition, different governments of the European countries are providing tax benefits to manufacturers of solar panels, which is fueling the growth of the market in the region. Government schemes for rooftop solar PV systems, such as financing schemes, direct capital subsidies, and green electricity schemes are also expected to upsurge the rooftop solar PV installation in the region.