Global Rooftop Solar PV Market: Overview
Rooftop solar photovoltaic (PV) installation is basically an electrical installation that changes solar energy into electrical energy. In the coming years, solar photovoltaic rooftop will come up as a latent green technology to combat weather change by decreasing dependence on conventional fossil energy-based fuel. Rooftop solar PV systems are basically the circulated power generation systems, which assist to meet buildings energy requirements by producing electrical energy within an active distribution network. The rooftop solar photovoltaic (PV) systems are much smaller in size and are majorly installed on the rooftop of commercial and residential buildings.
Global Rooftop Solar PV Market: Growth Factors
Several numbers of residential and commercial spaces are going for rooftop solar photovoltaic (PV) systems as they are very simple to install and gives an energy-proficient elucidation. Thus at this time when there is a huge demand for the energy making use of solar energy is highly profitable, thus the demand for the rooftop solar PV market is increasing. Owing to technological developments and broad acceptance of the rooftop solar PV, they are being utilized widely as most important sources of energy. In addition, the ultimate lifespan of the rooftop solar PV is over thirty years, which is a very important aspect supporting the acceptance of these systems in a variety of sectors thus positively driving the rooftop solar PV market growth. The tax credits offered by the government to the organizations going for solar energy in place of conventional energy also propel the development of the rooftop solar PV market.
Global Rooftop Solar PV Market: Segmentation
The rooftop solar PV market is classified into grid type, technology, end use, and geography. Based on technology, rooftop solar PV market is divided into crystalline silicon and thin-film. Crystalline silicon is further categorized into multicrystalline and monocrystalline. Based on grid type, the rooftop solar PV market is divided into off-grid and grid connected. Grid-connected is further classified into decentralized and centralized. Based on end use, it is divided into non-residential and residential.
Global Rooftop Solar PV Market: Regional Analysis
Asia Pacific anticipated accounting for a substantial share in the rooftop solar PV market which was followed by Europe and North America. Furthermore, the demand and popularity for the rooftop solar photovoltaics (PV) are increasing in Latin America and Africa, due to the presence of broadly distributed solar resources thus the rooftop solar PV market is projected to experience high development in the coming years.
China is anticipated to be the most profitable region due to its increasing governmental schemes and feed-in-tariff program thus propelling the expansion of the rooftop solar PV market. These schemes have led to helping in connectivity particularly in isolated areas for electricity along with increasing demand for uncontaminated energy which is cheaper as compared to nuclear electricity and fossil fuels.
Global Rooftop Solar PV Market: Competitive Players
Some of the most important market players in the global rooftop solar PV market are SunPower, Yingli Green Energy Holding Company Limited, Trina Solar, Canadian Solar, and Jinko Solar, among others.
Global Rooftop Solar PV Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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