North America EV Solar Modules Market is Expected to grow at a robust CAGR of 18.58% through 2030F
The
North America EV Solar Modules Market is expected to be led by the United
States, driven by strong adoption of electric vehicles, government incentives,
and increasing demand for sustainable charging solutions, during the forecast
period 2026-2030F.
According
to TechSci Research report, “North
America EV Solar Modules Market – By Country, Competition, Forecast &
Opportunities, 2020-2030F, The North America EV Solar Modules Market was
valued at USD 49.36 Million in 2024 and is expected to reach USD 138.47 Million
by 2030 with a CAGR of 18.58% during the forecast period.
Rising
energy costs in North America are driving consumers and businesses toward
alternative energy sources, such as solar power, for charging electric
vehicles. As electricity prices climb, particularly in regions that are heavily
dependent on traditional energy sources, there is a growing need for more
energy-efficient and independent solutions. Solar-powered EV charging stations
offer a compelling alternative, allowing users to charge their vehicles without
the financial burden of rising electricity rates. In addition to reducing
long-term costs, solar-powered charging systems also contribute to energy
independence, offering a reliable source of power that is not subject to the
volatility of utility pricing.
Government
incentives and policy support are significant trends boosting the North America
EV Solar Modules Market. Various federal, state, and provincial governments
across North America have introduced policies that encourage the adoption of
renewable energy technologies, including solar power, particularly for electric
vehicle charging. In the United States, initiatives like the Inflation
Reduction Act provide tax credits and rebates for the installation of solar
energy systems and EV infrastructure, making it more affordable for both
businesses and consumers. Similarly, Canada offers financial incentives through
programs like the Canadian Renewable Energy Tax Credit, which helps offset the
cost of installing solar panels and related infrastructure.
State
and provincial governments have set ambitious targets for reducing greenhouse
gas emissions, further stimulating demand for clean energy solutions. The
regulatory environment is evolving to prioritize renewable energy adoption, and
with continued policy support, solar-powered electric vehicle charging
infrastructure is expected to become more widespread and financially viable.
This trend reflects the broader commitment to achieving energy sustainability
and reducing reliance on fossil fuels, accelerating the growth of the North
America EV Solar Modules Market.
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Based
on Grid Type, Hybrid Module segment is expected to be the fastest-growing
segment in the North America EV Solar Modules Market during the forecast
period. Hybrid modules combine the advantages of both on-grid and off-grid
systems, offering increased flexibility and reliability for electric vehicle
charging stations. These systems can store excess solar energy for later use
while also being connected to the power grid to ensure continuous energy
supply, even during periods of low solar generation. This makes them particularly
attractive for areas with inconsistent sunlight or those seeking a reliable
backup power source. As the demand for efficient and versatile charging
infrastructure increases, especially in commercial and residential sectors,
hybrid modules are gaining popularity for their ability to optimize energy use
and reduce costs, driving their rapid growth in the market.
Based
on country, Mexico is rapidly emerging as the fastest-growing region in the
North America EV Solar Modules Market, driven by a combination of favorable
government policies, increasing electric vehicle adoption, and a growing focus
on renewable energy. The Mexican government has been actively promoting clean
energy initiatives, offering incentives for the installation of solar systems
and electric vehicle infrastructure. The country’s abundant sunlight and vast
potential for solar energy make it an ideal location for integrating solar
power into electric vehicle charging stations. As the automotive industry in
Mexico shifts toward electric vehicles, demand for sustainable charging
solutions is expected to soar. The growing industrialization, coupled with
enhanced infrastructure and investment in solar technologies, positions Mexico
as a key player in the expanding North America EV Solar Modules Market.
Key
market players in the North America EV Solar Modules market are: -
- Tesla,
Inc.
- Complete
Solar, Inc.
- First
Solar, Inc.
- NextEra
Energy, Inc.
- Canadian
Solar Inc.
- Enphase
Energy, Inc.
- Vivint,
Inc.
- Sunnova
Energy Corporation
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“The
North America EV Solar Modules Market is poised for significant growth in the
future, driven by the increasing adoption of electric vehicles, government
incentives, and the rising demand for sustainable energy solutions. As more
consumers and businesses transition to electric vehicles, the need for
eco-friendly and cost-effective charging infrastructure will surge.
Advancements in solar technology, energy storage, and grid integration will
further enhance the efficiency and reliability of solar-powered charging
stations. Supportive policies and investments in clean energy, coupled with the
growing focus on reducing carbon footprints, will fuel the expansion of the
market in the coming years.Top of Form”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global
management consulting firm.
“North America EV Solar Modules Market By Solar
Panel Type (Monocrystalline, Polycrystalline), By Grid Type (Off-grid Module,
On-grid Module, Hybrid Module), By Application (Passenger Vehicles, Commercial
Vehicles), By Country, By Competition, Forecast and Opportunities, 2020-2030F,” has evaluated the future growth
potential of North America EV Solar Modules 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 North America EV Solar Modules Market.
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