Market Overview:
The global residential solar PV systems market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy-efficient and environment-friendly technologies across the globe. In addition, government initiatives and subsidies for installing residential solar PV systems are also contributing to the growth of this market. The global residential solar PV systems market is segmented on the basis of type, application, and region. On the basis of type, it is divided into organic PV and inorganic PV. Organic photovoltaics are made up of carbon-based materials such as polymers or small molecules, while inorganic photovoltaics are based on silicon wafers or other semiconductor materials. On the basis of application, it is classified into community (residential complexes with more than five units), apartment (single family homes), and other applications (including schools, hospitals etc.).
Product Definition:
Residential Solar PV Systems are systems that use solar panels to convert sunlight into electricity for homes and businesses. The importance of Residential Solar PV Systems is that they can help reduce energy costs, increase a property's resale value, and help protect the environment.
Organic PV:
Organic PV, sometimes also called as clean or green solar PV, is the part of photovoltaic technology that utilizes organic substrates to convert sunlight into electricity. Organic photovoltaics include perovskite, methacrylate and other types of solid-state solar cells.
Inorganic PV:
Inorganic photovoltaic (PV) is a type of solar cell that does not contain any organic materials. In other words, it's a silicon-based solar cell without PV coating or in other words, glass. It has higher efficiency than conventional silicon cells and also provides better safety from external weather conditions such as wind and rain.
The global market for residential solar PV systems was valued at USD 18 billion in 2016.
Application Insights:
The other application segment includes commercial and industrial buildings. The community application segment dominated the global market in 2017, accounting for over 60% of the total revenue share. Increasing awareness regarding renewable energy among governments across countries such as Germany, Italy and China is expected to boost demand for solar PV systems in communities.
The apartment/households segment accounted for a significant market share of more than 30% in 2017 due to increasing government support & subsidies towards installation of roof-top panels systems by electricity providers or net metering companies that offer credits towards consumption against future feed-in tariff payments from the utility company.
Regional Analysis:
The Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to increasing government initiatives and investments in renewable energy. For instance, China has set an ambitious target of deploying 10 GW of solar PV by 2020. The country plans to add another 5 GW during the next four years which will take its total solar capacity up 20-25%. Similarly, Japan has a very strong market for residential solar photovoltaic systems due to high irradiance levels and growing awareness about clean energy generation. Germany is expected to be one of the major markets for residential solar PV systems over the forecast period owing to technological advancements in this sector along with supportive government policies encouraging investment in green technologies such as residential photovoltaics (PV).
Growth Factors:
- Increasing awareness about the benefits of solar energy: The benefits of solar energy are gradually becoming more well-known, which is helping to drive demand for residential solar PV systems. Some of the key benefits include reducing or eliminating electricity bills, protecting against rising utility rates, and contributing to a cleaner environment.
- Falling costs of solar panels and installation: The cost of installing a residential solar PV system has been dropping steadily in recent years due to advancements in technology and increased competition among installers. This is making it more affordable for homeowners to go solar, which is helping to boost demand further.
- Growing number of financing options: There are now a variety of financing options available for homeowners who want to install a residential solar PV system, including leasing programs, power purchase agreements (PPAs), and loans. This makes it easier for more people to afford Solar PV Systems market their homes with renewable energy technologies installed on their roofs..
Scope Of The Report
Report Attributes
Report Details
Report Title
Residential Solar PV Systems Market Research Report
By Type
Organic PV, Inorganic PV
By Application
Community, Apartment, Other
By Companies
Jinko Solar, SMA Solar Technology, Sungrow, Trina Solar, KACO New Energy, Sharp Corporation, Flin Energy, SolarEdge Technologies, Enphase Energy
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Residential Solar PV Systems Market Report Segments:
The global Residential Solar PV Systems market is segmented on the basis of:
Types
Organic PV, Inorganic PV
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Community, Apartment, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Jinko Solar
- SMA Solar Technology
- Sungrow
- Trina Solar
- KACO New Energy
- Sharp Corporation
- Flin Energy
- SolarEdge Technologies
- Enphase Energy
Highlights of The Residential Solar PV Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Organic PV
- Inorganic PV
- By Application:
- Community
- Apartment
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Residential Solar PV Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Residential solar PV systems are a type of solar energy system that is installed on or near the home of the owner to generate electricity. Solar PV systems use photovoltaic (PV) cells to convert sunlight into electrical energy. Residential solar PV systems can be used to power homes, businesses, and other buildings.
Some of the major companies in the residential solar pv systems market are Jinko Solar, SMA Solar Technology, Sungrow, Trina Solar, KACO New Energy, Sharp Corporation, Flin Energy, SolarEdge Technologies, Enphase Energy.
The residential solar pv systems market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Residential Solar PV Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Residential Solar PV Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Residential Solar PV Systems Market - Supply Chain
4.5. Global Residential Solar PV Systems Market Forecast
4.5.1. Residential Solar PV Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Residential Solar PV Systems Market Size (000 Units) and Y-o-Y Growth
4.5.3. Residential Solar PV Systems Market Absolute $ Opportunity
5. Global Residential Solar PV Systems Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Residential Solar PV Systems Market Size and Volume Forecast by Type
5.3.1. Organic PV
5.3.2. Inorganic PV
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Residential Solar PV Systems Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Residential Solar PV Systems Market Size and Volume Forecast by Application
6.3.1. Community
6.3.2. Apartment
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Residential Solar PV Systems Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Residential Solar PV Systems Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Residential Solar PV Systems Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Residential Solar PV Systems Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Residential Solar PV Systems Demand Share Forecast, 2019-2026
9. North America Residential Solar PV Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Residential Solar PV Systems Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Residential Solar PV Systems Market Size and Volume Forecast by Application
9.4.1. Community
9.4.2. Apartment
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Residential Solar PV Systems Market Size and Volume Forecast by Type
9.7.1. Organic PV
9.7.2. Inorganic PV
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Residential Solar PV Systems Demand Share Forecast, 2019-2026
10. Latin America Residential Solar PV Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Residential Solar PV Systems Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Residential Solar PV Systems Market Size and Volume Forecast by Application
10.4.1. Community
10.4.2. Apartment
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Residential Solar PV Systems Market Size and Volume Forecast by Type
10.7.1. Organic PV
10.7.2. Inorganic PV
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Residential Solar PV Systems Demand Share Forecast, 2019-2026
11. Europe Residential Solar PV Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Residential Solar PV Systems Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Residential Solar PV Systems Market Size and Volume Forecast by Application
11.4.1. Community
11.4.2. Apartment
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Residential Solar PV Systems Market Size and Volume Forecast by Type
11.7.1. Organic PV
11.7.2. Inorganic PV
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Residential Solar PV Systems Demand Share, 2019-2026
12. Asia Pacific Residential Solar PV Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Residential Solar PV Systems Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Residential Solar PV Systems Market Size and Volume Forecast by Application
12.4.1. Community
12.4.2. Apartment
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Residential Solar PV Systems Market Size and Volume Forecast by Type
12.7.1. Organic PV
12.7.2. Inorganic PV
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Residential Solar PV Systems Demand Share, 2019-2026
13. Middle East & Africa Residential Solar PV Systems Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Residential Solar PV Systems Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Residential Solar PV Systems Market Size and Volume Forecast by Application
13.4.1. Community
13.4.2. Apartment
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Residential Solar PV Systems Market Size and Volume Forecast by Type
13.7.1. Organic PV
13.7.2. Inorganic PV
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Residential Solar PV Systems Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Residential Solar PV Systems Market: Market Share Analysis
14.2. Residential Solar PV Systems Distributors and Customers
14.3. Residential Solar PV Systems Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Jinko Solar
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. SMA Solar Technology
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Sungrow
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Trina Solar
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. KACO New Energy
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Sharp Corporation
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Flin Energy
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. SolarEdge Technologies
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Enphase Energy
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
