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US Rooftop Solar Panel Market 2019-2025

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  • February 2020
  • Region: United States
  • Orion Market Research Private Limited
  • ID: 5116854
US Rooftop Solar Panel Market Size, Share & Trends Analysis Report by Type (Monocrystalline Solar Panel, Polycrystalline Solar Panel, Thin-Film Solar Panel, and Other Solar Panels) and by End-User (Household Sector and Corporate Sector) and Forecast, 2019-2025.

The US rooftop solar panel market is estimated to grow modestly at a CAGR of around 7.1% during the forecast period. The US is one of the key countries in which the emphasis is on the uses of renewable energy. Owing to which the opportunities for the energy created from solar sources are expected to increase in the coming years. Furthermore, the US has the largest utility-scale installations which are located in the Southwest desert. The US contributes significantly to the revenue generation of the rooftop solar panel market in North America. The US is expected to contribute significantly due to a rise in the adoption of solar panel technology so as to reduce electricity costs in Hospitals, industries, malls among various others.

There are numerous projects which are being undertaken so as to promote the use of solar panels in the country. For instance, Biocomplexity Institute collaborated with the Sandia National Laboratory, National Rural Electric Cooperative Association (NRECA), and Arizona State University in 2016 for the development of solar panel technology which was funded by the government under the US Department of Energy’s SunShot Initiative. This initiative supports the early-stage research and development of PV (Photovoltaic) technologies that improve efficiency and reliability, lower manufacturing costs, and drive down the cost of solar electricity. As of November 2016, the solar industry is about 90% on its way to achieving SunShot’s 2020 cost target of $0.06 per kilowatt-hour for utility-scale PV (based on 2010 baseline figures), and SunShot is already beginning to work toward $0.03 per kilowatt-hour for utility-scale PV by 2030. Such initiatives are expected to increase the demand for solar rooftop installations for reducing electricity costs, thereby creating opportunities for growth.

The companies which are contributing to the growth of the US rooftop solar panel market include First Solar, Inc., SunPower Corp., Canadian Solar, Inc., Kyocera Corp., and Wuxi Suntech Power Co., Ltd. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in February 2019, SunPower Corp. acquired SolarWorld Americas facility in Hillsboro, Oregon. The company is assembling its high-quality 19% efficient performance series solar panel (P19 or P-Series) for commercial customers in the US factory.

Research Methodology:

The market study of the US rooftop solar panel market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.

Secondary Sources Include:
  • Financial reports of companies involved in the market.
  • Whitepapers, research-papers, and news blogs.
  • Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

Market Segmentation:

1. US Rooftop Solar Panel Market Research and Analysis by Type
2. US Rooftop Solar Panel Market Research and Analysis by End-User

The Report Covers:
  • Comprehensive Research Methodology of the US rooftop solar panel market.
  • This report also includes a detailed and extensive market overview with key analyst insights.
  • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
  • Analysis of regional regulations and other government policies impacting the US rooftop solar panel market.
  • Insights about market determinants which are stimulating the US rooftop solar panel market.
  • Detailed and extensive market segments with regional distribution of forecasted revenues.
  • Extensive profiles and recent developments of market players.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Canadian Solar, Inc.
  • First Solar, Inc.
  • Hanwha SolarOne Co. Ltd.
  • Kyocera Corp.
  • Sharp Corp.
  • SoloPower Systems, Inc.
  • SunEdison, Inc.
  • SunPower Corp.
  • Trina Solar Energy Co., Ltd.
  • Wuxi Suntech Power Co., Ltd.