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How Rooftop Solar Photovoltaic (PV) Installation Market will Grow at Highest CAGR
Rooftop Solar Photovoltaic (PV) Installation Market
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The report further mentions that private, as well as governmental organizations, are working together to meet the ever-increasing demand for renewable energy. There has been a reduction in the balance of system costs as well as economies of scale. All these factors are likely to boost the rooftop solar PV installation market growth during the forecast period.
Highlights of the Report
Extensive analysis of the rooftop solar photovoltaic installation market trends, growth drivers, and obstacles.
Key insights on the industry analysis of numerous companies as well as value chain analysis.
In-depth information about the competitive landscape, namely, mergers and acquisitions, new product launches, contracts, and collaborations.
Fortune Business Insights profiles some of the renowned companies operating in the rooftop solar photovoltaic installation market. They are as follows:
First Solar
Jinko Solar Co., Ltd.
Sungevity
Trina Solar
RelyOn Solar Pvt. Ltd.
Canadian Solar Inc.
Tata Power Solar Systems Limited
Azure Power
Solimpeks Corporation
JA Solar
Vikram Solar
Yingli Solar
SunPower Corporation
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“Increasing Demand from Commercial & Residential Sector to Favor Growth in North America”
The rooftop solar PV installation market can be geographically fragmented into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. Amongst these regions, the U.S. market in North America had a steady growth of 10.6 GW in 2018. It was hence, considered to be the second-largest market. The market here is exhibiting high demand from the residential and commercial sectors. It would propel the market in this region. Europe had reached 11.3 GW in the year 2018. At present, the region is striving persistently to achieve its goal by 2020. It is implementing rules and regulations to promote the usage of clean energy.
Asia Pacific, on the other hand, had showcased low growth in 2017 owing to the major changes in China’s subsidy program. However, Korea has launched new policies to support the usage of renewable energy sources. In 2018, India was the third-largest nation with an installed capacity of 8.3G. The government of this country is putting forward several programs to promote clean energy in order to create sustainable development. It is providing subsidies and incentives for the installation and usage of solar power. Solar power is cost-effective as compared to other energy sources. It is, therefore, attracting the attention of many emerging nations that are present in Asia Pacific. This would affect the growth of the market size positively.
“Khimji Ramdas & Tesco Aim to Increase Consumption of Renewable Energy Through Strategic Partnerships”
The reputed companies present in the market are focusing on promoting clean energy through strategic collaborations with other companies. It is also helping them in gaining more rooftop solar PV installation market share. Below are two of the most recent industry developments:
April 2019: Khimji Ramdas (KR), a business conglomerate located in Oman, announced that it has recently joined hands with Nafath RE, a designer, developer, and commissioner of solar energy systems. The main aim of the collaboration is to install the first largescale 1 MW rooftop solar photovoltaic system in Oman. The country is at present, working towards achieving its goal of transforming 30 percent of its total energy sources into renewable energy. It will be done by 2030.
June 2019: Tesco, a multinational groceries and general merchandise retailer, headquartered in England, declared that it is all set to install approximately 5 MW of rooftop solar PV after singing a PPA agreement. The solar PV will be installed at its U.K site portfolio. The agreement was signed with SDCL Energy Efficiency Income Trust (SEEIT). The latter will provide funds for the sites.
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Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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