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U.S. Residential Solar PV Market Size, Share & Trends Analysis Report by Construction, by State (California, New York, Arizona, New Jersey, Massachusetts, Texas, Rest Of the U.S.), and Segment Forecasts, 2021-2028

  • ID: 5416014
  • Report
  • August 2021
  • Region: United States
  • 61 Pages
  • Grand View Research

FEATURED COMPANIES

  • Ace Solar
  • Momentum Solar
  • Petersen Dean Inc.
  • Sungevity
  • Sunlux
  • Sunpower Corporation
The U.S. residential solar PV market size is expected to reach USD 14.1 billion by 2028. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. Factors such as rising demand for renewable clean power generation and government policies related to incentives and tax rebates for solar PV (photovoltaic) systems are expected to drive the market over the forecast period. Increasing awareness among people regarding the use of low carbon-intensive technologies to limit carbon footprint is one of the major factors driving the adoption of solar PV systems in the U.S. residential sector.

The rejoining of the U.S. in the Paris Climate Agreement in February 2021 is expected to further boost market growth. Further, the extension of Investment Tax Credit (ITC) for residential solar PV installations at 26% by 2022 and 22% by 2023, is anticipated to boost the growth of the industry over the forecast period.

California is expected to continue to have a dominating market share as compared to other states in the U.S. on account of the presence of supporting policies, plans, and financial incentives for solar PV installation in the residential sector. In addition, the adoption of the California solar mandate from January 2021 is expected to boost market growth in the state over the coming years. The mandate states that all new residential properties to be constructed in the state should opt for solar PV systems.

The availability of alternative clean power generation technologies in form of wind power and fuel cell systems is expected to hinder the growth of the market. Increase in research and development activities and the presence of favorable policies and regulations for these power generation sources are factors likely to boost their adoption over the forecast period. These factors are expected to limit the growth of the industry over the forecast period.

U.S. Residential Solar PV Market Report Highlights

  • The retrofit construction segment accounted for the major revenue share in 2020 owing to large number of homes already present across the country as compared to number of homes built on yearly basis. Further, presence of various financial incentives provides positive environment for the end-users to install solar PV systems in their homes
  • California accounted for a significant revenue share in 2020. Factors such as supporting policies and regulations and rebate programs such as SMUD - PV Residential Retrofit Buy-Down and City of San Francisco - Solar Energy Incentive Program have boosted market growth in the state
  • Some of the major strategic initiatives taken by vendors in the market include mergers and acquisitions, business expansion in country, and strategic collaborations with market participants
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Ace Solar
  • Momentum Solar
  • Petersen Dean Inc.
  • Sungevity
  • Sunlux
  • Sunpower Corporation
Chapter 1 Methodology & Scope
1.1 Market Segmentation & Scope
1.1.1 Research Methodology and Assumptions
1.1.1.1 Bottom-Up Approach
1.1.1.2 Top-Down Approach
1.1.1.3 Cross-Validation
1.1.1.4 Market Forecasts
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing

Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights

Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 North America Solar PV Market Outlook
3.2 Penetration and Growth Prospects Mapping
3.3 Industry Value Chain Analysis
3.4 Technology Overview
3.5 Regulatory Framework
3.5.1 Policies and Plans By Major Countries
3.6 U.S. Residential Solar PV Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Decrease In Solar PV Cost Coupled With Availability Of Easy Solar Financing
3.6.1.2 Favorable Policies and Regulations
3.6.2 Market Restraint Analysis
3.6.2.1 Presence Of Substitute Clean Power Generation Technologies
3.6.3 Market Opportunity Analysis
3.6.4 Market Challenges
3.6.4.1 Variable Output As Per Geographical Condition Coupled With Rise In Intermitancy In The Grid
3.7 U.S. Residential Solar PV Industry Analysis - Porter’s
3.8 U.S. Residential Solar PV Industry Analysis - Pestel
3.9 Impact Of Covid-19 On U.S. Residential Solar PV Market
3.9.1 Challenges
3.9.1.1 Disruption In Supply Chain
3.9.1.2 Reduction In Demand In Some States
3.9.2 Steps Taken
3.9.3 Impact Analysis - Medium

Chapter 4 U.S. Residential Solar PV Market: Construction Estimates & Trend Analysis
4.1 Construction Type Movement Analysis & Market Share, 2020 & 2028
4.2 Market Size & Forecasts and Trend Analysis, 2016 To 2028 For The Following Construction Type:
4.2.1 Retrofit
4.2.1.1 U.S. Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Retrofit
4.2.2 New Construction
4.2.2.1 U.S. Residential Solar PV Market Size & Forecasts, 2016 To 2028, By New Construction

Chapter 5 U.S. Residential Solar PV Market: State Estimates & Trend Analysis
5.1 State Movement Analysis & Market Share, 2020 & 2028
5.2 Market Size & Forecasts and Trend Analysis, 2016 To 2028 For The Following:
5.2.1 California
5.2.1.1 California Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)
5.2.2 New York
5.2.2.1 New York Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)
5.2.3 Arizona
5.2.3.1 Arizona Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)
5.2.4 New Jersey
5.2.4.1 New Jersey Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)
5.2.5 Massachusetts
5.2.5.1 Massachusetts Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)
5.2.6 Texas
5.2.6.1 Texas Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)
5.2.7 Rest Of The U.S.
5.2.7.1 Rest Of The U.S. Residential Solar PV Market Size & Forecasts, 2016 To 2028, By Construction Type (MW) (USD Million)

Chapter 6 Competitive Analysis
6.1 Key Global Players, Recent Market Developments & Their Impact On The Industry
6.2 U.S. Vendor Landscape
6.2.1 List Of Major Solar Installers
6.2.2 List Of Major Home Builders
6.2.3 List Of Major Battery Manufacturers
6.3 Key Company Market Ranking Analysis In U.S., 2019
6.3.1 Key Battery Players

Chapter 7 Company Profiles
7.1 Tesla
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.2 Sunpower Corporation
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Strategic Initiatives
7.3 Sunrun
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.3.4 Strategic Initiatives
7.4 Trinity Solar, Inc.
7.4.1 Company Overview
7.4.2 Product Benchmarking
7.5 Sungevity
7.5.1 Company Overview
7.5.2 Product Benchmarking
7.6 Momentum Solar
7.6.1 Company Overview
7.6.2 Product Benchmarking
7.7 Petersen Dean Inc.
7.7.1 Company Overview
7.7.2 Product Benchmarking
7.8 Ace Solar
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.9 Sunlux
7.9.1 Company Overview
7.9.2 Product Benchmarking
7.10 Titan Solar Power
7.10.1 Company Overview
7.10.2 Product Benchmarking

List of Tables
Table 1 U.S. Residential Solar PV Market Size & Forecasts by retrofit construction, 2016 to 2028
Table 2 U.S. Residential Solar PV Market Size & Forecasts, 2016 to 2028, by New Construction
Table 3 California residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 4 California residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)
Table 5 New York residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 6 New York residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)
Table 7 Arizona residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 8 Arizona residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)
Table 9 New Jersey residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 10 New Jersey residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)
Table 11 Massachusetts residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 12 Massachusetts residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)
Table 13 Texas residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 14 Texas residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)
Table 15 Rest of the U.S. residential solar PV market estimates & forecast, by construction, 2016 to 2028 (MW)
Table 16 Rest of the U.S. residential solar PV market estimates & forecast, by construction, 2016 to 2028 (USD Million)

List of Figures
Fig. 1 U.S. Residential Solar PV Market Segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 North America Solar PV Installed Base (2015 - 2019) (MW)
Fig. 7 U.S. residential solar PV market estimates and forecast, 2016 - 2028 (MW) (USD Million)
Fig. 8 U.S. Residential Solar PV Market - Industry value chain analysis
Fig. 9 Residential Solar PV System
Fig. 10 Market driver impact analysis
Fig. 11 U.S. wind and solar power installed capacity, 2015 - 2019 (GW)
Fig. 12 Global solar PV installation costs, 2015 - 2019 (USD/kW)
Fig. 13 Market restraint impact analysis
Fig. 14 U.S. Residential Solar PV Market Analysis - Porter’s analysis
Fig. 15 U.S. Residential Solar PV Market Analysis - PESTEL analysis
Fig. 16 U.S. Residential Solar PV Market: Construction Type Movement Analysis, 2020 & 2028
Fig. 17 U.S. Residential Solar PV Market: State Movement Analysis, 2020 & 2028
Fig. 18 Key Battery Players Ranking Analysis
Note: Product cover images may vary from those shown
  • Tesla
  • Sunpower Corporation
  • Sunrun
  • Trinity Solar, Inc.
  • Sungevity
  • Momentum Solar
  • Petersen Dean Inc.
  • Ace Solar
  • Sunlux
  • Titan Solar Power
Note: Product cover images may vary from those shown

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