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Solar Power Market in Us 2024-2028

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    Report

  • 125 Pages
  • August 2024
  • Region: United States
  • TechNavio
  • ID: 5546058
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The solar power market in us is forecasted to grow by USD 20.8 billion during 2023-2028, accelerating at a CAGR of 11.55% during the forecast period. The report on the solar power market in us provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in investments in renewable energy, rising electricity demand and high cost of grid expansion, and emergence of zero-energy buildings.

The solar power market in us is segmented as below:

By Technology

  • Photovoltaic systems
  • Concentrated solar power systems

By Application

  • Utility
  • Residential
  • Commercial

By Geographical Landscape

  • North America
This study identifies the rising adoption of floating solar power plants as one of the prime reasons driving the solar power market in us growth during the next few years. Also, growing application of concentrated solar power in buildings and advances in thin-film solar pv modules will lead to sizable demand in the market.

The report on the solar power market in us covers the following areas:

  • Solar power market in us sizing
  • Solar power market in us forecast
  • Solar power market in us industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading solar power market in us vendors that include Abengoa SA, Acciona SA, Avantus LLC, BrightSource Energy Inc., Canadian Solar Inc., Earthlight Technologies LLC, Envinity, First Solar Inc., Fun In The Sun Pool Heating Inc., Hanwha Corp., M. A. Mortenson Co., Nextera Energy Inc., Porter Electric LLC, Posigen Solar, Professional Solar Products, SOLV Energy, Southern Exposure Solar, Star Solar Specialists LLC, SunPower Corp., and Trina Solar Co. Ltd. Also, the solar power market in us analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Table of Contents

1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Country Market Characteristics
Executive Summary - Chart on Market Segmentation by Technology
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on US - Market size and forecast 2023-2028 ($ billion)
Data Table on US - Market size and forecast 2023-2028 ($ billion)
Chart on US: Year-over-year growth 2023-2028 (%)
Data Table on US: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Solar Power Market in US 2018 - 2022
Historic Market Size - Data Table on Solar Power Market in US 2018 - 2022 ($ billion)
4.2 Technology segment analysis 2018 - 2022
Historic Market Size - Technology Segment 2018 - 2022 ($ billion)
4.3 Application segment analysis 2018 - 2022
Historic Market Size - Application Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Technology
6.1 Market segments
Chart on Technology - Market share 2023-2028 (%)
Data Table on Technology - Market share 2023-2028 (%)
6.2 Comparison by Technology
Chart on Comparison by Technology
Data Table on Comparison by Technology
6.3 Photovoltaic systems - Market size and forecast 2023-2028
Chart on Photovoltaic systems - Market size and forecast 2023-2028 ($ billion)
Data Table on Photovoltaic systems - Market size and forecast 2023-2028 ($ billion)
Chart on Photovoltaic systems - Year-over-year growth 2023-2028 (%)
Data Table on Photovoltaic systems - Year-over-year growth 2023-2028 (%)
6.4 Concentrated solar power systems - Market size and forecast 2023-2028
Chart on Concentrated solar power systems - Market size and forecast 2023-2028 ($ billion)
Data Table on Concentrated solar power systems - Market size and forecast 2023-2028 ($ billion)
Chart on Concentrated solar power systems - Year-over-year growth 2023-2028 (%)
Data Table on Concentrated solar power systems - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Technology
Market opportunity by Technology ($ billion)
Data Table on Market opportunity by Technology ($ billion)
7 Market Segmentation by Application
7.1 Market segments
Chart on Application - Market share 2023-2028 (%)
Data Table on Application - Market share 2023-2028 (%)
7.2 Comparison by Application
Chart on Comparison by Application
Data Table on Comparison by Application
7.3 Utility - Market size and forecast 2023-2028
Chart on Utility - Market size and forecast 2023-2028 ($ billion)
Data Table on Utility - Market size and forecast 2023-2028 ($ billion)
Chart on Utility - Year-over-year growth 2023-2028 (%)
Data Table on Utility - Year-over-year growth 2023-2028 (%)
7.4 Residential - Market size and forecast 2023-2028
Chart on Residential - Market size and forecast 2023-2028 ($ billion)
Data Table on Residential - Market size and forecast 2023-2028 ($ billion)
Chart on Residential - Year-over-year growth 2023-2028 (%)
Data Table on Residential - Year-over-year growth 2023-2028 (%)
7.5 Commercial - Market size and forecast 2023-2028
Chart on Commercial - Market size and forecast 2023-2028 ($ billion)
Data Table on Commercial - Market size and forecast 2023-2028 ($ billion)
Chart on Commercial - Year-over-year growth 2023-2028 (%)
Data Table on Commercial - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Application
Market opportunity by Application ($ billion)
Data Table on Market opportunity by Application ($ billion)
8 Customer Landscape
8.1 Customer landscape overview
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Opportunity/Restraints
9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
Impact of drivers and challenges in 2023 and 2028
9.4 Market opportunities/restraints
10 Competitive Landscape
10.1 Overview
10.2 Competitive Landscape
Overview on criticality of inputs and factors of differentiation
10.3 Landscape disruption
Overview on factors of disruption
10.4 Industry risks
Impact of key risks on business
11 Competitive Analysis
11.1 Companies profiled
Companies covered
11.2 Market positioning of companies
Matrix on companies position and classification
11.3 Abengoa SA
Abengoa SA - Overview
Abengoa SA - Product/Service
Abengoa SA - Key offerings
11.4 Acciona SA
Acciona SA - Overview
Acciona SA - Business segments
Acciona SA - Key news
Acciona SA - Key offerings
Acciona SA - Segment focus
11.5 Avantus LLC
Avantus LLC - Overview
Avantus LLC - Product/Service
Avantus LLC - Key offerings
11.6 BrightSource Energy Inc.
BrightSource Energy Inc. - Overview
BrightSource Energy Inc. - Product/Service
BrightSource Energy Inc. - Key offerings
11.7 Canadian Solar Inc.
Canadian Solar Inc. - Overview
Canadian Solar Inc. - Business segments
Canadian Solar Inc. - Key news
Canadian Solar Inc. - Key offerings
Canadian Solar Inc. - Segment focus
11.8 Earthlight Technologies LLC
Earthlight Technologies LLC - Overview
Earthlight Technologies LLC - Product/Service
Earthlight Technologies LLC - Key offerings
11.9 First Solar Inc.
First Solar Inc. - Overview
First Solar Inc. - Business segments
First Solar Inc. - Key news
First Solar Inc. - Key offerings
First Solar Inc. - Segment focus
11.10 Hanwha Corp.
Hanwha Corp. - Overview
Hanwha Corp. - Product/Service
Hanwha Corp. - Key news
Hanwha Corp. - Key offerings
11.11 M. A. Mortenson Co.
M. A. Mortenson Co. - Overview
M. A. Mortenson Co. - Product/Service
M. A. Mortenson Co. - Key offerings
11.12 Nextera Energy Inc.
Nextera Energy Inc. - Overview
Nextera Energy Inc. - Business segments
Nextera Energy Inc. - Key offerings
Nextera Energy Inc. - Segment focus
11.13 Posigen Solar
Posigen Solar - Overview
Posigen Solar - Product/Service
Posigen Solar - Key offerings
11.14 Professional Solar Products
Professional Solar Products - Overview
Professional Solar Products - Product/Service
Professional Solar Products - Key offerings
11.15 SOLV Energy
SOLV Energy - Overview
SOLV Energy - Product/Service
SOLV Energy - Key offerings
11.16 Star Solar Specialists LLC
Star Solar Specialists LLC - Overview
Star Solar Specialists LLC - Product/Service
Star Solar Specialists LLC - Key offerings
11.17 SunPower Corp.
SunPower Corp. - Overview
SunPower Corp. - Product/Service
SunPower Corp. - Key news
SunPower Corp. - Key offerings
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Inclusions checklist
Exclusions checklist
12.3 Currency conversion rates for US$
Currency conversion rates for US$
12.4 Research methodology
Research methodology
12.5 Data procurement
Information sources
12.6 Data validation
Data validation
12.7 Validation techniques employed for market sizing
Validation techniques employed for market sizing
12.8 Data synthesis
Data synthesis
12.9 360 degree market analysis
360 degree market analysis
12.10 List of abbreviations
List of abbreviations
List of Exhibits
Exhibits 1: Executive Summary - Chart on Market Overview
Exhibits 2: Executive Summary - Data Table on Market Overview
Exhibits 3: Executive Summary - Chart on Country Market Characteristics
Exhibits 4: Executive Summary - Chart on Market Segmentation by Technology
Exhibits 5: Executive Summary - Chart on Market Segmentation by Application
Exhibits 6: Executive Summary - Chart on Company Market Positioning
Exhibits 7: Parent Market
Exhibits 8: Data Table on - Parent Market
Exhibits 9: Market characteristics analysis
Exhibits 10: Value Chain Analysis
Exhibits 11: Offerings of companies included in the market definition
Exhibits 12: Market segments
Exhibits 13: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibits 14: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibits 15: Chart on US: Year-over-year growth 2023-2028 (%)
Exhibits 16: Data Table on US: Year-over-year growth 2023-2028 (%)
Exhibits 17: Historic Market Size - Data Table on Solar Power Market in US 2018 - 2022 ($ billion)
Exhibits 18: Historic Market Size - Technology Segment 2018 - 2022 ($ billion)
Exhibits 19: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
Exhibits 20: Five forces analysis - Comparison between 2023 and 2028
Exhibits 21: Bargaining power of buyers - Impact of key factors 2023 and 2028
Exhibits 22: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
Exhibits 23: Threat of new entrants - Impact of key factors in 2023 and 2028
Exhibits 24: Threat of substitutes - Impact of key factors in 2023 and 2028
Exhibits 25: Threat of rivalry - Impact of key factors in 2023 and 2028
Exhibits 26: Chart on Market condition - Five forces 2023 and 2028
Exhibits 27: Chart on Technology - Market share 2023-2028 (%)
Exhibits 28: Data Table on Technology - Market share 2023-2028 (%)
Exhibits 29: Chart on Comparison by Technology
Exhibits 30: Data Table on Comparison by Technology
Exhibits 31: Chart on Photovoltaic systems - Market size and forecast 2023-2028 ($ billion)
Exhibits 32: Data Table on Photovoltaic systems - Market size and forecast 2023-2028 ($ billion)
Exhibits 33: Chart on Photovoltaic systems - Year-over-year growth 2023-2028 (%)
Exhibits 34: Data Table on Photovoltaic systems - Year-over-year growth 2023-2028 (%)
Exhibits 35: Chart on Concentrated solar power systems - Market size and forecast 2023-2028 ($ billion)
Exhibits 36: Data Table on Concentrated solar power systems - Market size and forecast 2023-2028 ($ billion)
Exhibits 37: Chart on Concentrated solar power systems - Year-over-year growth 2023-2028 (%)
Exhibits 38: Data Table on Concentrated solar power systems - Year-over-year growth 2023-2028 (%)
Exhibits 39: Market opportunity by Technology ($ billion)
Exhibits 40: Data Table on Market opportunity by Technology ($ billion)
Exhibits 41: Chart on Application - Market share 2023-2028 (%)
Exhibits 42: Data Table on Application - Market share 2023-2028 (%)
Exhibits 43: Chart on Comparison by Application
Exhibits 44: Data Table on Comparison by Application
Exhibits 45: Chart on Utility - Market size and forecast 2023-2028 ($ billion)
Exhibits 46: Data Table on Utility - Market size and forecast 2023-2028 ($ billion)
Exhibits 47: Chart on Utility - Year-over-year growth 2023-2028 (%)
Exhibits 48: Data Table on Utility - Year-over-year growth 2023-2028 (%)
Exhibits 49: Chart on Residential - Market size and forecast 2023-2028 ($ billion)
Exhibits 50: Data Table on Residential - Market size and forecast 2023-2028 ($ billion)
Exhibits 51: Chart on Residential - Year-over-year growth 2023-2028 (%)
Exhibits 52: Data Table on Residential - Year-over-year growth 2023-2028 (%)
Exhibits 53: Chart on Commercial - Market size and forecast 2023-2028 ($ billion)
Exhibits 54: Data Table on Commercial - Market size and forecast 2023-2028 ($ billion)
Exhibits 55: Chart on Commercial - Year-over-year growth 2023-2028 (%)
Exhibits 56: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
Exhibits 57: Market opportunity by Application ($ billion)
Exhibits 58: Data Table on Market opportunity by Application ($ billion)
Exhibits 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Exhibits 60: Impact of drivers and challenges in 2023 and 2028
Exhibits 61: Overview on criticality of inputs and factors of differentiation
Exhibits 62: Overview on factors of disruption
Exhibits 63: Impact of key risks on business
Exhibits 64: Companies covered
Exhibits 65: Matrix on companies position and classification
Exhibits 66: Abengoa SA - Overview
Exhibits 67: Abengoa SA - Product/Service
Exhibits 68: Abengoa SA - Key offerings
Exhibits 69: Acciona SA - Overview
Exhibits 70: Acciona SA - Business segments
Exhibits 71: Acciona SA - Key news
Exhibits 72: Acciona SA - Key offerings
Exhibits 73: Acciona SA - Segment focus
Exhibits 74: Avantus LLC - Overview
Exhibits 75: Avantus LLC - Product/Service
Exhibits 76: Avantus LLC - Key offerings
Exhibits 77: BrightSource Energy Inc. - Overview
Exhibits 78: BrightSource Energy Inc. - Product/Service
Exhibits 79: BrightSource Energy Inc. - Key offerings
Exhibits 80: Canadian Solar Inc. - Overview
Exhibits 81: Canadian Solar Inc. - Business segments
Exhibits 82: Canadian Solar Inc. - Key news
Exhibits 83: Canadian Solar Inc. - Key offerings
Exhibits 84: Canadian Solar Inc. - Segment focus
Exhibits 85: Earthlight Technologies LLC - Overview
Exhibits 86: Earthlight Technologies LLC - Product/Service
Exhibits 87: Earthlight Technologies LLC - Key offerings
Exhibits 88: First Solar Inc. - Overview
Exhibits 89: First Solar Inc. - Business segments
Exhibits 90: First Solar Inc. - Key news
Exhibits 91: First Solar Inc. - Key offerings
Exhibits 92: First Solar Inc. - Segment focus
Exhibits 93: Hanwha Corp. - Overview
Exhibits 94: Hanwha Corp. - Product/Service
Exhibits 95: Hanwha Corp. - Key news
Exhibits 96: Hanwha Corp. - Key offerings
Exhibits 97: M. A. Mortenson Co. - Overview
Exhibits 98: M. A. Mortenson Co. - Product/Service
Exhibits 99: M. A. Mortenson Co. - Key offerings
Exhibits 100: Nextera Energy Inc. - Overview
Exhibits 101: Nextera Energy Inc. - Business segments
Exhibits 102: Nextera Energy Inc. - Key offerings
Exhibits 103: Nextera Energy Inc. - Segment focus
Exhibits 104: Posigen Solar - Overview
Exhibits 105: Posigen Solar - Product/Service
Exhibits 106: Posigen Solar - Key offerings
Exhibits 107: Professional Solar Products - Overview
Exhibits 108: Professional Solar Products - Product/Service
Exhibits 109: Professional Solar Products - Key offerings
Exhibits 110: SOLV Energy - Overview
Exhibits 111: SOLV Energy - Product/Service
Exhibits 112: SOLV Energy - Key offerings
Exhibits 113: Star Solar Specialists LLC - Overview
Exhibits 114: Star Solar Specialists LLC - Product/Service
Exhibits 115: Star Solar Specialists LLC - Key offerings
Exhibits 116: SunPower Corp. - Overview
Exhibits 117: SunPower Corp. - Product/Service
Exhibits 118: SunPower Corp. - Key news
Exhibits 119: SunPower Corp. - Key offerings
Exhibits 120: Inclusions checklist
Exhibits 121: Exclusions checklist
Exhibits 122: Currency conversion rates for US$
Exhibits 123: Research methodology
Exhibits 124: Information sources
Exhibits 125: Data validation
Exhibits 126: Validation techniques employed for market sizing
Exhibits 127: Data synthesis
Exhibits 128: 360 degree market analysis
Exhibits 129: List of abbreviations

Executive Summary

The following companies are recognized as the key players in the global solar power market in us: Abengoa SA, Acciona SA, Avantus LLC, BrightSource Energy Inc., Canadian Solar Inc., Earthlight Technologies LLC, Envinity, First Solar Inc., Fun In The Sun Pool Heating Inc., Hanwha Corp., M. A. Mortenson Co., Nextera Energy Inc., Porter Electric LLC, Posigen Solar, Professional Solar Products, SOLV Energy, Southern Exposure Solar, Star Solar Specialists LLC, SunPower Corp., and Trina Solar Co. Ltd..

Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is rising adoption of floating solar power plants."

According to the report, one of the major drivers for this market is the rise in investments in renewable energy.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Abengoa SA
  • Acciona SA
  • Avantus LLC
  • BrightSource Energy Inc.
  • Canadian Solar Inc.
  • Earthlight Technologies LLC
  • Envinity
  • First Solar Inc.
  • Fun In The Sun Pool Heating Inc.
  • Hanwha Corp.
  • M. A. Mortenson Co.
  • Nextera Energy Inc.
  • Porter Electric LLC
  • Posigen Solar
  • Professional Solar Products
  • SOLV Energy
  • Southern Exposure Solar
  • Star Solar Specialists LLC
  • SunPower Corp.
  • Trina Solar Co. Ltd.