DG Rooftop Solar PV Market is expected to Grow with a CAGR of 7.4% through 2029F

The global DG rooftop solar PV market is rising due to increasing awareness of renewable energy benefits, declining solar technology costs, and supportive government policies promoting clean energy adoption in the forecast period 2025-2029F.

According to TechSci Research report, “DG Rooftop Solar PV Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, Global DG Rooftop Solar PV Market was valued at USD 6.7 Billion in 2023 and is expected to reach USD 10.38 Billion in 2029 and project robust growth in the forecast period with a CAGR of 7.4% through 2029F. Energy independence and grid resilience are key drivers propelling the Global DG Rooftop Solar PV Market to new heights. In an era marked by fluctuating energy prices and environmental concerns, the desire for energy independence has led individuals and businesses alike to invest in rooftop solar PV systems. By generating their own electricity on-site, consumers reduce their dependence on centralized power grids, mitigating the impact of grid failures, outages, or supply disruptions. This newfound self-sufficiency not only ensures a stable power supply during emergencies but also enhances overall energy security. Energy independence fosters a sense of control over one's energy production and consumption, aligning with the growing trend of environmental consciousness and the desire to reduce carbon footprints. The emphasis on grid resilience is reshaping the energy landscape. DG rooftop solar PV systems contribute significantly to enhancing the resilience of existing power grids. By integrating solar energy at a distributed level, these systems reduce strain on the grid during peak demand periods. During natural disasters or grid failures, these localized energy sources continue to operate, providing a reliable source of electricity to homes and businesses. Grid resilience is further bolstered by advancements in smart grid technologies, which allow seamless integration of DG rooftop solar installations into the broader energy infrastructure. As governments and organizations recognize the importance of resilient energy systems in the face of climate change-related challenges, investments in DG rooftop solar PV systems have surged. These systems not only offer businesses continuity of operations but also provide homeowners peace of mind, knowing they have a reliable power source even in challenging circumstances. The combination of energy independence and grid resilience not only drives the adoption of DG rooftop solar PV systems but also underscores their pivotal role in building a sustainable, reliable, and resilient energy future.

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The North America region is the fastest-growing market in the global distributed generation (DG) rooftop solar photovoltaic (PV) market, propelled by a combination of robust governmental support, favorable economic conditions, and increasing consumer awareness about renewable energy. One of the primary drivers of this growth is the strong policy framework and incentives provided by federal, state, and local governments. Programs such as the federal Investment Tax Credit (ITC), which offers significant tax reductions for solar installations, have been instrumental in reducing the upfront costs associated with solar PV systems, thereby making them more financially accessible to homeowners and businesses. Many states also offer additional incentives, including rebates, grants, and property tax exemptions, further enhancing the economic viability of rooftop solar projects. Additionally, net metering policies in numerous states allow solar PV system owners to sell excess electricity back to the grid, providing an additional financial benefit and encouraging more consumers to invest in solar technology. Another critical factor contributing to the rapid growth of the DG rooftop solar PV market in North America is the increasing emphasis on sustainability and the transition towards a low-carbon economy. Corporations, particularly in the United States and Canada, are setting ambitious renewable energy targets and are actively investing in rooftop solar PV systems to reduce their carbon footprints and demonstrate environmental responsibility. This corporate commitment is mirrored by a growing consumer base that is becoming more environmentally conscious and is looking for ways to contribute to sustainability efforts. The cultural shift towards greener living and the desire for energy independence have significantly boosted the adoption of rooftop solar systems. Technological advancements and declining costs of solar PV components also play a crucial role in driving market growth. Innovations in solar panel efficiency, energy storage solutions, and smart grid technologies have made rooftop solar PV systems more reliable and cost-effective. The North American market benefits from a well-established manufacturing and supply chain infrastructure, which helps in reducing costs and improving the availability of high-quality solar products. Additionally, the region has a strong base of skilled labor and technical expertise, facilitating the smooth installation and maintenance of solar systems. The rise of innovative financing models has also contributed to the market's expansion. Solar leasing, power purchase agreements (PPAs), and community solar programs have made it easier for homeowners and businesses to adopt solar energy without bearing the full upfront costs. These models spread the financial burden over time and offer flexible payment options, making solar PV systems more accessible to a broader range of consumers. The market also faces challenges, such as the potential for policy changes and the need for grid infrastructure upgrades to accommodate increased solar penetration. Despite these hurdles, the North American DG rooftop solar PV market is poised for continued growth, driven by supportive policies, technological advancements, and a strong cultural shift towards renewable energy and sustainability. The region's proactive approach to addressing climate change and its commitment to fostering a green economy underscore its leading position in the global rooftop solar PV market.

Based on Capacity, the segment of DG Rooftop Solar PV systems with capacities ranging from 11 kW to 100 kW dominated the Global DG Rooftop Solar PV Market, and it is anticipated to continue its dominance throughout the forecast period. This segment's dominance can be attributed to the balance it strikes between serving small-scale residential consumers and larger commercial enterprises. Rooftop solar PV systems within the 11 kW to 100 kW capacity range cater to a diverse market, including mid-sized businesses, educational institutions, and industrial facilities, offering them a viable and efficient solution to meet their energy needs sustainably. Businesses in this range often have larger roof spaces and higher energy demands, making the installation of moderate-capacity solar systems both feasible and economically beneficial. Additionally, advancements in technology and reductions in the overall cost of solar PV components have made medium-scale rooftop solar installations more financially attractive for businesses. Furthermore, favorable government incentives, subsidies, and tax benefits in various countries incentivize businesses to opt for solar installations within this capacity range, further propelling its dominance. As the demand for clean energy solutions continues to grow globally, the 11 kW to 100 kW segment is well-positioned to maintain its dominance, driven by its versatility, cost-effectiveness, and applicability across a wide range of commercial and industrial sectors.

Major companies operating in Global DG Rooftop Solar PV Market are:

• SunPower Corporation
• Canadian Solar Inc.
• JinkoSolar Holding Co., Ltd.
• TrinaSolar Co., Ltd.
• First Solar, Inc.
• Hanwha Corporation
• JA Solar Technology Co., Ltd.
• Yingli Energy Development Company Limited 
• Risen Energy Co., Ltd.
• LONGi Green Energy Technology Co., Ltd.

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“The global distributed generation (DG) rooftop solar photovoltaic (PV) market presents significant opportunities as the demand for clean energy solutions continues to rise, driven by the need for energy independence, sustainability, and cost savings. As governments worldwide implement favorable policies and incentives to reduce carbon emissions and promote renewable energy adoption, the rooftop solar PV market is experiencing rapid growth. Increasing concerns over energy security, rising electricity prices, and the shift toward decentralized energy generation are encouraging both residential and commercial consumers to invest in solar systems. Technological advancements in solar panels, such as higher efficiency, lower costs, and improved energy storage solutions, are further driving market expansion. Additionally, the growing trend of smart cities and the increasing deployment of smart grids create a favorable environment for the integration of DG rooftop solar PV systems, offering a reliable, scalable, and environmentally friendly energy solution. The potential for solar energy generation in urban areas, especially in regions with high sunlight exposure, presents ample opportunities for market players to target both established and emerging markets. Furthermore, the rising awareness of corporate social responsibility (CSR) and the push toward green building certifications is fueling the adoption of solar energy solutions in commercial and industrial sectors. As energy consumption continues to grow globally, the DG rooftop solar PV market offers substantial opportunities for investment, innovation, and expansion, providing a sustainable and economically viable solution to meet the world's increasing energy needs. With growing environmental concerns and the continued focus on reducing greenhouse gas emissions, the market for rooftop solar PV systems is poised for robust growth in the coming years.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“DG Rooftop Solar PV Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Capacity (up to 10 kW, 11 kW – 100 kW, Above 100 kW), By End-User (Residential, Commercial, Industrial), By Region, By Competition, 2019-2029F”, has evaluated the future growth potential of Global DG Rooftop Solar PV Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global DG Rooftop Solar PV Market.

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