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Solar Panel Market Trends 2019 | Segmentation, Outlook, Industry Report to 2025
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Further, fluctuation in crude oil price has been majorly contributing to the increase in adoption of the rooftop solar panel. As per OMR Analysis, total net installation was 92.4 GW (gigawatt), in which 27.5 GW of rooftop solar panel was installed in 2017. In global solar panel market, rooftop solar panel held nearly 30% of market share. Moreover, the market is anticipated to grow at a CAGR of 7.7% over the forecast period. Global net installation is estimated to reach 135.5 GW in 2023 attributed to increasing rooftop solar panel installation in household and corporate sector; thereby, driving the rooftop solar panel market growth across the globe.
The reduction in the price of rooftop solar panel in the last decade is probably the greatest driver of the global rooftop solar panel market. Rooftop Solar Panel are penetrating significantly from various commercial to household applications across the globe. This has been made possible due to reducing the cost of solar panels over the last decade. A significant decline in the cost of Rooftop Solar Panel has been observed in the past years. NREL has accounted for all system and project development costs incurred during the installation of residential, commercial, and utility-scale systems.
NREL stated the cost of PV Rooftop Solar Panel used in the different application. As per NREL, average PV cost of residential systems in 2017, was around $2.80 per watt DC (/W DC), and commercial PV systems would cost around $1.85/W DC. Additionally, the cost of fixed-tilt utility-scale systems and one-axis-tracking utility-scale systems is around $1.03/W DC and $1.11/W DC respectively in the same years. There has been a sharp decline in the cost of these PV systems when compared with the cost in 2010. According to the data provided by NREL, around 61%, 65.4%, 77.5%, and 80% reduction in the cost of residential, commercial, fixed-tilt utility scale, and one-axis tracker utility-scale PV systems have been observed between 2010 and 2017.
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Current Market Trends Covered in the Global Rooftop Solar Panel Market Report
• Based on the types, the polycrystalline solar panel segment is estimated to hold a dominating market share during the forecast period.
• Based on the end-user, corporate sector held the largest market share in the global rooftop solar panel market in 2018.
• Asia-Pacific is estimated to dominate the global rooftop solar panel industry during the forecast period.
Global Rooftop Solar Panel Market Segmentation
By Type
• Monocrystalline Silicon Rooftop Solar Panel
• Polycrystalline Silicon Rooftop Solar Panel
• Thin-Film Rooftop Solar Panel
• Other Rooftop Solar Panel
By End-User
• Household Sector
• Corporate Sector
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe
Asia-Pacific
• India
• China
• Japan
• Rest oF APAC
Rest of The World
• Middle East & Africa
• Latin America
Company Profiles
• ALLPOWERS Industrial international Ltd.
• Canadian Solar Inc.
• China Sunergy (Nanjing) Co., Ltd.
• First Solar, Inc.
• Hanwha Solarone Co. Ltd.
• JA SOLAR Co., Ltd.
• JinkoSolar Holding Co., Ltd.
• 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.
• SunEdison Inc.
• SunPower Corp.
• Tata Power Solar Systems Ltd.
• Trina Solar Co., Ltd,
• Vikram Solar Ltd.
• Yingli Green Energy Holding Co. Ltd.
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Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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