Solar Rooftop Market - Forecasts from 2025 to 2030

The global solar rooftop market is predicted to grow at a CAGR of 14.35% from US$130.949 billion in 2025 to US$255.998 billion by 2030.

Solar rooftop refers to solar panels installed on various infrastructure types. This kind of technology offers a clean energy source as it does not produce any pollution or emit dangerous substances into the atmosphere making it safe, sustainable, and environmentally friendly. The industry is expanding as more homes are installing solar rooftops to generate clean energy. The depletion of fossil fuel reserves, such as those of petroleum, crude oil, and natural gas, and rising solar panel installations is encouraging the production of clean, green, and renewable energy sources. For instance, the Solar Energy Industry Association reports that the U.S. solar business generated US$18 billionin investment in 2019 and reached an installed solar capacity of 78 GW across the nation.

Furthermore, the strict regulations put in place by the government regarding the usage of fossil fuels that emit toxins coupled with research and development initiatives by major players and government bodies will further boost the market expansion.

Solar rooftop market growth drivers

Increasing Government Incentives and Private Investments

Several governments in European nations are offering tax breaks and various financial incentives to solar panel manufacturers, thus encouraging significant industrial growth in the region. Aiming to reduce production cost and encourage the adoption of renewable energy technologies, these strategies are in line with aggressive climate goals set by the European Union. On its part, the government of Malaysia has also been playing an important role in accelerating the pace of innovation and increased competition in the market. Policies to encourage green energy transition are expected to spur rooftops solar PV installations - including among residential and small business users. Also, streamlined regulatory frameworks and programs to support the integration of energy storage increase the attractiveness and feasibility of solar PV systems and pave the way for sustainable energy growth across Europe.

Solar Rooftop market Geographical Outlook

The United States is anticipated to hold a significant market share in the forecasted period.

As per the National Renewable Energy Laboratory, one in every seven houses will adopt a solar rooftop system in the United States of America by the end of 2030. This is demonstrated by the 30% increase in the volume of residential solar rooftop installations in the USA, as per the statistics released by the Solar EnergyIndustries Association. In addition, the US Government is introducing favorable initiatives like the formation of the Solar Energy Technologies Office to encourage the increase in solar rooftop output in an attempt to reduce its carbon footprint and address the issues of coal shortage.

According to the US Energy Information Administration, the market shares of solar energy to the total electricity generation in the USA increased from 2% in 2020 to 4% in 2022 and is projected to reach 6% by 2024. This consequently increases the demand for the solar rooftop market in the USA. The reduction in electricity consumption costs due to the installation of solar rooftops is further driving the residential demand for solar rooftop panels.

In addition, the energy ventures analysis released by PJM interconnection revealed that the US market is very likely to experience a coal shortage situation in 2024 fueled by the increased coal consumption in 2022 and 2023 and the surge in the thermal coal prices due to the Russia-Ukraine war. The coal supply in the USA decreased from 706 MMT in 2019 to 577 MMT in 2021. As a result of the coal shortage, other renewable energy resources like solar and wind energy will witness a rise in their output and consumption. Therefore, considering the decarbonization efforts by the US Government and the sustainability benefits associated with solar energy, the US solar rooftop market will experience significant growth to capture a larger market share of the international solar rooftop over the forecast period.

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Report Coverage:

• Historical data & forecasts from 2022 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
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The solar rooftop market is segmented and analyzed as follows:

By Grid Connectivity

• On-Grid
• Off-Grid

By End-use

• Residential
• Commercial

By Geography

• North America
• South America
• Europe
• Middle East and Africa
• Asia-Pacific