United States Solar Energy Market with CAGR of 5.9% during 2023-2030 - Exclusive Report by DatamIntelligence

Leander, Texas, United States - Nov. 17. 2025 "The Solar Energy Market is estimated to grow at a CAGR of 5.9% during the forecast period 2023-2030" As per DataM intelligence research report

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United States: Recent Industry Developments

✅ In October 2025, SunPower launched a new high-efficiency solar panel series for residential and commercial rooftops. The panels feature improved conversion efficiency and durability. They support U.S. efforts toward clean energy adoption and carbon reduction.

✅ In September 2025, NextEra Energy expanded its utility-scale solar farms in Texas and Florida, adding over 500 MW of capacity. The projects integrate battery storage for grid stability. They enhance renewable energy generation and resilience in the U.S. power system.

✅ In August 2025, First Solar commissioned a large-scale solar project in Arizona using advanced thin-film modules. The project focuses on sustainable land use and optimized energy output. It strengthens U.S. solar infrastructure and supports climate goals.

✅ In July 2025, Tesla Energy launched integrated solar roof tiles with energy storage solutions for residential applications. The system combines aesthetics and functionality. It encourages wider adoption of distributed solar energy in U.S. homes.

Japan: Recent Industry Developments

✅ In October 2025, Kyocera installed new high-efficiency solar panels on commercial buildings across Osaka and Tokyo. The panels maximize energy output while reducing maintenance. They contribute to Japan's carbon neutrality and renewable energy targets.

✅ In September 2025, Sharp Corporation expanded its solar module production using bifacial technology for utility-scale projects. The modules capture sunlight from both sides, increasing efficiency. They support Japan's efforts to scale clean energy capacity.

✅ In August 2025, Panasonic launched integrated solar and storage solutions for residential and commercial use in Japan. The system enables energy self-sufficiency and grid support. It enhances Japan's sustainable urban energy initiatives.

✅ In July 2025, Mitsubishi Electric completed a floating solar project in western Japan, combining water management with energy generation. The project provides clean energy while reducing evaporation. It aligns with Japan's innovative solar deployment strategies.

Solar Energy Market: Drivers

The solar energy market is experiencing rapid growth driven by increasing global demand for clean, renewable, and sustainable energy sources. Rising awareness of climate change, carbon emission reduction, and energy security is encouraging governments, businesses, and consumers to adopt solar technologies for electricity generation. Technological advancements in photovoltaic (PV) panels, concentrated solar power, and energy storage systems are enhancing efficiency, reliability, and cost-effectiveness, making solar energy increasingly competitive with conventional power sources. Additionally, declining installation costs, favorable government incentives, and supportive policies such as feed-in tariffs and renewable energy mandates are further boosting adoption. Expansion of residential, commercial, and utility-scale solar projects is accelerating market growth across regions.

Innovation in solar panel materials, bifacial and flexible modules, and smart grid integration is improving energy output, durability, and grid compatibility. Collaborations between energy companies, technology providers, and research institutions are driving development of high-efficiency panels, energy storage solutions, and hybrid renewable systems. Rising demand for off-grid and microgrid solutions in remote and developing regions is creating new growth opportunities. Increasing investments in corporate sustainability initiatives and green energy projects are also supporting adoption. With continuous technological advancements and global emphasis on clean energy transition, the solar energy market is poised for sustained and robust expansion.

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Solar Energy Market: Major Players

BrightSource Energy, Yingli Solar, Gintech Energy Corp., Tata Power Solar among others.

Segment Covered in the Solar Energy Market:

By Product Type:
The market is segmented into photovoltaic (PV) solar and thermal solar. Photovoltaic solar systems dominate the global market due to their versatility, ease of installation, and declining module costs. They are extensively used in power generation, rooftop systems, and off-grid applications. Thermal solar systems, on the other hand, are primarily deployed for water and space heating, industrial process heat, and concentrated solar power (CSP) plants. Technological advancements in thermal collectors and storage systems are enhancing their efficiency and expanding their adoption in industrial and utility-scale applications.

By Applications:
Based on application, the market is categorized into residential, commercial, and industrial segments. The residential sector accounts for a significant share due to increasing rooftop solar installations and supportive net-metering policies. The commercial sector follows closely, driven by corporate sustainability goals and the integration of solar systems into offices, malls, and institutions to reduce energy costs. The industrial segment is rapidly growing, supported by large-scale installations for manufacturing facilities and industrial parks seeking to reduce dependency on conventional energy sources and achieve carbon neutrality.

By End Use:
By end use, the market is classified into charging, lighting, electricity generation, and heating. Electricity generation dominates the segment, with solar PV playing a crucial role in global renewable power capacity additions. Lighting applications, such as solar streetlights and off-grid lighting systems, are gaining traction in both rural and urban areas. Charging applications, including solar-powered EV charging stations and portable chargers, are expanding with the rise of electric mobility. Heating applications primarily solar water heating and thermal systems continue to see demand in residential and industrial sectors for energy-efficient heat supply.

Regional Analysis

North America (≈26% share):
North America leads with strong policy support, tax incentives, and rising investments in solar infrastructure. The U.S. and Canada are driving large-scale solar PV installations, with the U.S. leading in utility-scale and residential rooftop systems.

Europe (≈28% share):
Europe remains a major contributor due to ambitious renewable energy targets under the EU Green Deal. Countries such as Germany, Spain, and the Netherlands are accelerating solar deployment across residential and commercial buildings, supported by favorable feed-in tariffs and carbon reduction commitments.

South America (≈9% share):
South America shows promising growth led by Brazil, Chile, and Argentina. Expanding rural electrification projects and decreasing solar costs are driving installations across both residential and industrial sectors.

Asia Pacific (≈27% share):
Asia Pacific dominates global production and consumption, led by China, India, Japan, and Australia. Rapid industrialization, government subsidies, and large-scale renewable capacity additions make it the fastest-growing regional market.

Middle East & Africa (≈10% share):
The Middle East and Africa region is emerging strongly, fueled by abundant sunlight and large-scale solar projects in the UAE, Saudi Arabia, Egypt, and South Africa. Increasing focus on energy diversification and sustainability goals is further boosting solar energy adoption across residential and utility sectors.

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