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Solar Power Market in US 2023-2027

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    Report

  • 128 Pages
  • July 2023
  • Region: United States
  • TechNavio
  • ID: 5546058
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The solar power market in US is forecasted to grow by USD 16.41 bn during 2022-2027, accelerating at a CAGR of 10.24% 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
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 covers in US the following areas:

  • Solar power market sizing in US
  • Solar power market forecast in US
  • Solar power market industry analysis in US
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 publisher 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
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Country Market Characteristics
Exhibit 04: Executive Summary - Chart on Market Segmentation by Technology
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 07: Parent market
Exhibit 08: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Solar power market in US 2017 - 2021
Exhibit 15: Historic Market Size - Data Table on solar power market in US 2017 - 2021 ($ billion)
4.2 Technology Segment Analysis 2017 - 2021
Exhibit 16: Historic Market Size - Technology Segment 2017 - 2021 ($ billion)
4.3 Application Segment Analysis 2017 - 2021
Exhibit 17: Historic Market Size - Application Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 19: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 20: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 21: Threat of new entrants - Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 22: Threat of substitutes - Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 23: Threat of rivalry - Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 24: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Technology
6.1 Market segments
Exhibit 25: Chart on Technology - Market share 2022-2027 (%)
Exhibit 26: Data Table on Technology - Market share 2022-2027 (%)
6.2 Comparison by Technology
Exhibit 27: Chart on Comparison by Technology
Exhibit 28: Data Table on Comparison by Technology
6.3 Photovoltaic systems - Market size and forecast 2022-2027
Exhibit 29: Chart on Photovoltaic systems - Market size and forecast 2022-2027 ($ billion)
Exhibit 30: Data Table on Photovoltaic systems - Market size and forecast 2022-2027 ($ billion)
Exhibit 31: Chart on Photovoltaic systems - Year-over-year growth 2022-2027 (%)
Exhibit 32: Data Table on Photovoltaic systems - Year-over-year growth 2022-2027 (%)
6.4 Concentrated solar power systems - Market size and forecast 2022-2027
Exhibit 33: Chart on Concentrated solar power systems - Market size and forecast 2022-2027 ($ billion)
Exhibit 34: Data Table on Concentrated solar power systems - Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Chart on Concentrated solar power systems - Year-over-year growth 2022-2027 (%)
Exhibit 36: Data Table on Concentrated solar power systems - Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Technology
Exhibit 37: Market opportunity by Technology ($ billion)
Exhibit 38: Data Table on Market opportunity by Technology ($ billion)
7 Market Segmentation by Application
7.1 Market segments
Exhibit 39: Chart on Application - Market share 2022-2027 (%)
Exhibit 40: Data Table on Application - Market share 2022-2027 (%)
7.2 Comparison by Application
Exhibit 41: Chart on Comparison by Application
Exhibit 42: Data Table on Comparison by Application
7.3 Utility - Market size and forecast 2022-2027
Exhibit 43: Chart on Utility - Market size and forecast 2022-2027 ($ billion)
Exhibit 44: Data Table on Utility - Market size and forecast 2022-2027 ($ billion)
Exhibit 45: Chart on Utility - Year-over-year growth 2022-2027 (%)
Exhibit 46: Data Table on Utility - Year-over-year growth 2022-2027 (%)
7.4 Residential - Market size and forecast 2022-2027
Exhibit 47: Chart on Residential - Market size and forecast 2022-2027 ($ billion)
Exhibit 48: Data Table on Residential - Market size and forecast 2022-2027 ($ billion)
Exhibit 49: Chart on Residential - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Residential - Year-over-year growth 2022-2027 (%)
7.5 Commercial - Market size and forecast 2022-2027
Exhibit 51: Chart on Commercial - Market size and forecast 2022-2027 ($ billion)
Exhibit 52: Data Table on Commercial - Market size and forecast 2022-2027 ($ billion)
Exhibit 53: Chart on Commercial - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
7.6 Market opportunity by Application
Exhibit 55: Market opportunity by Application ($ billion)
Exhibit 56: Data Table on Market opportunity by Application ($ billion)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Impact of drivers and challenges
Exhibit 58: Impact of drivers and challenges in 2022 and 2027
9.4 Market trends
10 Vendor Landscape
10.1 Overview
10.2 Vendor landscape
Exhibit 59: Overview on Criticality of inputs and Factors of differentiation
10.3 Landscape disruption
Exhibit 60: Overview on factors of disruption
10.4 Industry risks
Exhibit 61: Impact of key risks on business
11 Vendor Analysis
11.1 Vendors covered
Exhibit 62: Vendors covered
11.2 Market positioning of vendors
Exhibit 63: Matrix on vendor position and classification
11.3 Abengoa SA
Exhibit 64: Abengoa SA - Overview
Exhibit 65: Abengoa SA - Product/Service
Exhibit 66: Abengoa SA - Key news
Exhibit 67: Abengoa SA - Key offerings
11.4 Acciona SA
Exhibit 68: Acciona SA - Overview
Exhibit 69: Acciona SA - Business segments
Exhibit 70: Acciona SA - Key news
Exhibit 71: Acciona SA - Key offerings
Exhibit 72: Acciona SA - Segment focus
11.5 Avantus LLC
Exhibit 73: Avantus LLC - Overview
Exhibit 74: Avantus LLC - Product/Service
Exhibit 75: Avantus LLC - Key offerings
11.6 BrightSource Energy Inc.
Exhibit 76: BrightSource Energy Inc. - Overview
Exhibit 77: BrightSource Energy Inc. - Product/Service
Exhibit 78: BrightSource Energy Inc. - Key offerings
11.7 Canadian Solar Inc.
Exhibit 79: Canadian Solar Inc. - Overview
Exhibit 80: Canadian Solar Inc. - Business segments
Exhibit 81: Canadian Solar Inc. - Key news
Exhibit 82: Canadian Solar Inc. - Key offerings
Exhibit 83: Canadian Solar Inc. - Segment focus
11.8 Earthlight Technologies LLC
Exhibit 84: Earthlight Technologies LLC - Overview
Exhibit 85: Earthlight Technologies LLC - Product/Service
Exhibit 86: Earthlight Technologies LLC - Key offerings
11.9 First Solar Inc.
Exhibit 87: First Solar Inc. - Overview
Exhibit 88: First Solar Inc. - Business segments
Exhibit 89: First Solar Inc. - Key offerings
Exhibit 90: First Solar Inc. - Segment focus
11.10 Hanwha Corp.
Exhibit 91: Hanwha Corp. - Overview
Exhibit 92: Hanwha Corp. - Product/Service
Exhibit 93: Hanwha Corp. - Key news
Exhibit 94: Hanwha Corp. - Key offerings
11.11 M. A. Mortenson Co.
Exhibit 95: M. A. Mortenson Co. - Overview
Exhibit 96: M. A. Mortenson Co. - Product/Service
Exhibit 97: M. A. Mortenson Co. - Key offerings
11.12 Nextera Energy Inc.
Exhibit 98: Nextera Energy Inc. - Overview
Exhibit 99: Nextera Energy Inc. - Business segments
Exhibit 100: Nextera Energy Inc. - Key offerings
Exhibit 101: Nextera Energy Inc. - Segment focus
11.13 Posigen Solar
Exhibit 102: Posigen Solar - Overview
Exhibit 103: Posigen Solar - Product/Service
Exhibit 104: Posigen Solar - Key offerings
11.14 Professional Solar Products
Exhibit 105: Professional Solar Products - Overview
Exhibit 106: Professional Solar Products - Product/Service
Exhibit 107: Professional Solar Products - Key offerings
11.15 SOLV Energy
Exhibit 108: SOLV Energy - Overview
Exhibit 109: SOLV Energy - Product/Service
Exhibit 110: SOLV Energy - Key offerings
11.16 Star Solar Specialists LLC
Exhibit 111: Star Solar Specialists LLC - Overview
Exhibit 112: Star Solar Specialists LLC - Product/Service
Exhibit 113: Star Solar Specialists LLC - Key offerings
11.17 SunPower Corp.
Exhibit 114: SunPower Corp. - Overview
Exhibit 115: SunPower Corp. - Product/Service
Exhibit 116: SunPower Corp. - Key news
Exhibit 117: SunPower Corp. - Key offerings
12 Appendix
12.1 Scope of the report
12.2 Inclusions and exclusions checklist
Exhibit 118: Inclusions checklist
Exhibit 119: Exclusions checklist
12.3 Currency conversion rates for US$
Exhibit 120: Currency conversion rates for US$
12.4 Research methodology
Exhibit 121: Research methodology
Exhibit 122: Validation techniques employed for market sizing
Exhibit 123: Information sources
12.5 List of abbreviations
Exhibit 124: 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 Vendor Market Positioning
Exhibits 7: Parent market
Exhibits 8: Market Characteristics
Exhibits 9: Offerings of vendors included in the market definition
Exhibits 10: Market segments
Exhibits 11: Chart on US - Market size and forecast 2022-2027 ($ billion)
Exhibits 12: Data Table on US - Market size and forecast 2022-2027 ($ billion)
Exhibits 13: Chart on US: Year-over-year growth 2022-2027 (%)
Exhibits 14: Data Table on US: Year-over-year growth 2022-2027 (%)
Exhibits 15: Historic Market Size - Data Table on solar power market in US 2017 - 2021 ($ billion)
Exhibits 16: Historic Market Size - Technology Segment 2017 - 2021 ($ billion)
Exhibits 17: Historic Market Size - Application Segment 2017 - 2021 ($ billion)
Exhibits 18: Five forces analysis - Comparison between 2022 and 2027
Exhibits 19: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
Exhibits 20: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
Exhibits 21: Threat of new entrants - Impact of key factors in 2022 and 2027
Exhibits 22: Threat of substitutes - Impact of key factors in 2022 and 2027
Exhibits 23: Threat of rivalry - Impact of key factors in 2022 and 2027
Exhibits 24: Chart on Market condition - Five forces 2022 and 2027
Exhibits 25: Chart on Technology - Market share 2022-2027 (%)
Exhibits 26: Data Table on Technology - Market share 2022-2027 (%)
Exhibits 27: Chart on Comparison by Technology
Exhibits 28: Data Table on Comparison by Technology
Exhibits 29: Chart on Photovoltaic systems - Market size and forecast 2022-2027 ($ billion)
Exhibits 30: Data Table on Photovoltaic systems - Market size and forecast 2022-2027 ($ billion)
Exhibits 31: Chart on Photovoltaic systems - Year-over-year growth 2022-2027 (%)
Exhibits 32: Data Table on Photovoltaic systems - Year-over-year growth 2022-2027 (%)
Exhibits 33: Chart on Concentrated solar power systems - Market size and forecast 2022-2027 ($ billion)
Exhibits 34: Data Table on Concentrated solar power systems - Market size and forecast 2022-2027 ($ billion)
Exhibits 35: Chart on Concentrated solar power systems - Year-over-year growth 2022-2027 (%)
Exhibits 36: Data Table on Concentrated solar power systems - Year-over-year growth 2022-2027 (%)
Exhibits 37: Market opportunity by Technology ($ billion)
Exhibits 38: Data Table on Market opportunity by Technology ($ billion)
Exhibits 39: Chart on Application - Market share 2022-2027 (%)
Exhibits 40: Data Table on Application - Market share 2022-2027 (%)
Exhibits 41: Chart on Comparison by Application
Exhibits 42: Data Table on Comparison by Application
Exhibits 43: Chart on Utility - Market size and forecast 2022-2027 ($ billion)
Exhibits 44: Data Table on Utility - Market size and forecast 2022-2027 ($ billion)
Exhibits 45: Chart on Utility - Year-over-year growth 2022-2027 (%)
Exhibits 46: Data Table on Utility - Year-over-year growth 2022-2027 (%)
Exhibits 47: Chart on Residential - Market size and forecast 2022-2027 ($ billion)
Exhibits 48: Data Table on Residential - Market size and forecast 2022-2027 ($ billion)
Exhibits 49: Chart on Residential - Year-over-year growth 2022-2027 (%)
Exhibits 50: Data Table on Residential - Year-over-year growth 2022-2027 (%)
Exhibits 51: Chart on Commercial - Market size and forecast 2022-2027 ($ billion)
Exhibits 52: Data Table on Commercial - Market size and forecast 2022-2027 ($ billion)
Exhibits 53: Chart on Commercial - Year-over-year growth 2022-2027 (%)
Exhibits 54: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
Exhibits 55: Market opportunity by Application ($ billion)
Exhibits 56: Data Table on Market opportunity by Application ($ billion)
Exhibits 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Exhibits 58: Impact of drivers and challenges in 2022 and 2027
Exhibits 59: Overview on Criticality of inputs and Factors of differentiation
Exhibits 60: Overview on factors of disruption
Exhibits 61: Impact of key risks on business
Exhibits 62: Vendors covered
Exhibits 63: Matrix on vendor position and classification
Exhibits 64: Abengoa SA - Overview
Exhibits 65: Abengoa SA - Product/Service
Exhibits 66: Abengoa SA - Key news
Exhibits 67: Abengoa SA - Key offerings
Exhibits 68: Acciona SA - Overview
Exhibits 69: Acciona SA - Business segments
Exhibits 70: Acciona SA - Key news
Exhibits 71: Acciona SA - Key offerings
Exhibits 72: Acciona SA - Segment focus
Exhibits 73: Avantus LLC - Overview
Exhibits 74: Avantus LLC - Product/Service
Exhibits 75: Avantus LLC - Key offerings
Exhibits 76: BrightSource Energy Inc. - Overview
Exhibits 77: BrightSource Energy Inc. - Product/Service
Exhibits 78: BrightSource Energy Inc. - Key offerings
Exhibits 79: Canadian Solar Inc. - Overview
Exhibits 80: Canadian Solar Inc. - Business segments
Exhibits 81: Canadian Solar Inc. - Key news
Exhibits 82: Canadian Solar Inc. - Key offerings
Exhibits 83: Canadian Solar Inc. - Segment focus
Exhibits 84: Earthlight Technologies LLC - Overview
Exhibits 85: Earthlight Technologies LLC - Product/Service
Exhibits 86: Earthlight Technologies LLC - Key offerings
Exhibits 87: First Solar Inc. - Overview
Exhibits 88: First Solar Inc. - Business segments
Exhibits 89: First Solar Inc. - Key offerings
Exhibits 90: First Solar Inc. - Segment focus
Exhibits 91: Hanwha Corp. - Overview
Exhibits 92: Hanwha Corp. - Product/Service
Exhibits 93: Hanwha Corp. - Key news
Exhibits 94: Hanwha Corp. - Key offerings
Exhibits 95: M. A. Mortenson Co. - Overview
Exhibits 96: M. A. Mortenson Co. - Product/Service
Exhibits 97: M. A. Mortenson Co. - Key offerings
Exhibits 98: Nextera Energy Inc. - Overview
Exhibits 99: Nextera Energy Inc. - Business segments
Exhibits 100: Nextera Energy Inc. - Key offerings
Exhibits 101: Nextera Energy Inc. - Segment focus
Exhibits 102: Posigen Solar - Overview
Exhibits 103: Posigen Solar - Product/Service
Exhibits 104: Posigen Solar - Key offerings
Exhibits 105: Professional Solar Products - Overview
Exhibits 106: Professional Solar Products - Product/Service
Exhibits 107: Professional Solar Products - Key offerings
Exhibits 108: SOLV Energy - Overview
Exhibits 109: SOLV Energy - Product/Service
Exhibits 110: SOLV Energy - Key offerings
Exhibits 111: Star Solar Specialists LLC - Overview
Exhibits 112: Star Solar Specialists LLC - Product/Service
Exhibits 113: Star Solar Specialists LLC - Key offerings
Exhibits 114: SunPower Corp. - Overview
Exhibits 115: SunPower Corp. - Product/Service
Exhibits 116: SunPower Corp. - Key news
Exhibits 117: SunPower Corp. - Key offerings
Exhibits 118: Inclusions checklist
Exhibits 119: Exclusions checklist
Exhibits 120: Currency conversion rates for US$
Exhibits 121: Research methodology
Exhibits 122: Validation techniques employed for market sizing
Exhibits 123: Information sources
Exhibits 124: List of abbreviations

Executive Summary

The publisher recognizes the following companies 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.