The report titled The US Residential Solar Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025), provides an in depth analysis of the US residential solar market by value, by annual installations, by cumulative installations, by penetration, by region, etc. The report provides a regional analysis of the US residential solar market, including the following regions: California, and the Rest of the US. The report also provides a detailed analysis of the COVID-19 impact on the residential solar market.
The US residential solar market is fragmented with the presence of many major players. The key players of the market: Sunrun, Inc., SunPower Corporation, Tesla, Inc. and Titan Solar Power are also profiled with their financial information and respective business strategies.
Country Coverage
- The US
Table of Contents
Executive Summary
The world's energy demand is rapidly increasing as a result of population growth and technological improvements. To meet the future energy demand, it is consequently critical to choose a stable, cost-effective, and eternal renewable energy source.
The need to change to clean energy sources is continually increasing due to the ecological imbalance and global warming caused by hazardous emissions from coal-fired power plants. Solar energy, like other renewable energy sources, is a promising and readily available source of energy for addressing long-term difficulties in the energy crisis. Because of the tremendous need for energy, the solar market is steadily growing all over the world, despite the fact that the main energy source, fossil fuel, is finite and other sources are expensive.
Though the solar energy can be utilized for a variety of purposes including residential, commercial and utility, the demand of residential solar has escalated in recent years. Residential solar panels are mainly used for the domestic purpose.
The US residential solar market has significantly increased in 2020 and it is projected that the market would rise considerably in the next four years i.e. 2021-2025. The US residential solar market is expected to rise due to falling costs for solar system, rising utility bills, easy residential solar financing and leasing, Federal and State policy support, rising demand for rooftop solar and shift towards clean energy. The market also faces some challenges like supply chain disruptions and declining efficiency associated with bad weather and low sunlight.
Companies Mentioned
- Sunrun, Inc.
- SunPower Corporation
- Tesla, Inc.
- Titan Solar Power
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 67 |
| Published | November 2021 |
| Forecast Period | 2021 - 2025 |
| Estimated Market Value ( USD | $ 10.09 Billion |
| Forecasted Market Value ( USD | $ 12.55 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | United States |
| No. of Companies Mentioned | 4 |
