On-Grid Solar PV Market Report 2026

The on-grid solar pv market size has grown steadily in recent years. It will grow from $178.12 billion in 2025 to $185.89 billion in 2026 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to declining cost of pv modules, government backed incentives and feed in tariff schemes, early adoption of rooftop solar programs, improvements in inverter efficiency and reliability, expansion of solar manufacturing capacity.

The on-grid solar pv market size is expected to see steady growth in the next few years. It will grow to $221.95 billion in 2030 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to rising renewable energy targets across countries, increasing adoption of energy storage with on grid solar, growth in corporate ppa based solar procurement, modernization of grid infrastructure for distributed generation, rising electricity demand from ev charging. Major trends in the forecast period include rising integration of smart monitoring in on grid solar systems, growing deployment of rooftop grid tied installations, increasing adoption of utility scale solar for grid stability, expansion of financing models for residential solar, advancements in hybrid solar plus storage solutions.

The rising demand for renewable energy is expected to propel the growth of the on-grid solar PV market going forward. Renewable energy refers to sustainable and environmentally friendly sources of power, such as solar, wind, hydro, and geothermal, that are naturally replenished. The increasing public awareness towards environmental issues and a growing desire for sustainable living contribute to the demand for on-grid solar PV systems. It plays a significant role in the production of renewable energy by producing power using solar panels and supplying it straight to the grid. This helps in reducing the vulnerability of the grid to centralized disruptions, improving overall grid reliability. For instance, in January 2024, according to the International Energy Agency, a France-based government agency, renewable electricity capacity additions reached an estimated 507 GW in 2023, almost 50% higher than in 2022, with solar PV and wind accounting for a record 96% of it. Therefore, the rising demand for renewable energy is driving the growth of the on-grid solar PV market.

Leading companies operating in the on-grid solar PV market are creating innovative products with advanced technologies, such as on-grid photovoltaic (PV) inverters, to boost their revenues in the sector. An on-grid PV inverter is a critical component of a solar energy system that converts the variable direct current (DC) output of a photovoltaic solar array into alternating current (AC) electricity that can be fed directly into the electrical grid. For example, in June 2023, Solinteg, a China-based renewable energy solutions provider, launched the Integ O Series three-phase 4-25 kW on-grid inverter. This inverter offers a maximum conversion efficiency of 98.6%, supports up to three MPPTs (Maximum Power Point Trackers) to improve solar array performance, and has a low startup voltage of 180 V to extend operating hours under varying light conditions.

In March 2023, JSW Energy Limited, an India-based power generation, transmission, and trading power company, acquired 1,331 MW of wind capacity and 422 MW of solar from Mytrah Energy for $1.23 billion. JSW Energy's aim behind the acquisition was to increase its current operational capacity by over 36% to 6,564 MW and advance towards its capacity target of 10 GW by FY 2025. Through this acquisition, JSW Energy is expected to expand its green energy portfolio and become a full-service electricity company. Mytrah Energy is an India-based provider of on-grid solar PV solutions as part of its renewable energy portfolio.

Major companies operating in the on-grid solar pv market are Huawei Technologies Co. Ltd., L&T Electrical & Automation Ltd., Siemens AG, Schneider Electric SE, ABB Ltd., JA SOLAR Technology Co. Ltd., LONGi Green Energy Technology Co. Ltd., Delta Electronics Inc., Trina Solar Limited, JinkoSolar Holding Co. Ltd., Canadian Solar Inc., Omron Corporation, Chint Group Corp., Sungrow Power Supply Co. Ltd., Risen Energy Co. Ltd., SolarEdge Technologies Inc., First Solar Inc., Havells India Ltd., SunPower Corp., SMA Solar Technology AG, GoodWe (Jiangsu) Power Supply Technology Co. Ltd., Enphase Energy Inc., Ginlong (Solis) Technologies, Motech Industries Inc., Indosolar Ltd., Loom Solar Pvt. Ltd., FIMER S.p.A., GCL System Integration Technology Co. Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on solar modules, inverters, and key balance of system components have elevated project development costs for on grid solar pv systems, slowing installation rates in price sensitive markets. Utility scale and rooftop residential segments in regions dependent on imported equipment face the greatest impact, particularly where domestic manufacturing capacity is limited. Nevertheless, tariffs are also driving investment in local production, encouraging supply chain diversification, and creating new opportunities for domestic value addition.

The on-grid solar PV market research report is one of a series of new reports that provides on-grid solar PV market statistics, including on-grid solar PV industry global market size, regional shares, competitors with a on-grid solar PV market share, detailed on-grid solar PV market segments, market trends and opportunities, and any further data you may need to thrive in the on-grid solar PV industry. This on-grid solar PV market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

On-grid solar photovoltaic (PV) systems refer to grid-tied solar power setups that directly connect to the electrical grid. These systems generate electricity from sunlight through solar panels and feed the power into the grid for broader distribution. It contributes to the reduction of greenhouse gas emissions and reliance on fossil fuels.

The main types of on-grid solar PV technologies are monocrystalline silicon, thin film, polycrystalline silicon, and others. Monocrystalline silicon technology refers to solar panels made from single-crystal silicon, offering high efficiency and a sleek, black appearance. The various types of installations include ground-mounted, rooftop, and others, which are used for several applications, such as residential, non-residential, and utilities.Asia-Pacific was the largest region in the on-grid solar PV market in 2025. The regions covered in the on-grid solar pv market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the on-grid solar pv market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The on-grid solar PV market consists of revenues earned by entities by providing solar PV installation, system design, grid connection, and system monitoring and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The on-grid solar PV market also includes sales of solar panels, inverters, and energy storage systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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