Rooftop Solar EPC Market is expected to Grow with a CAGR of 5.84% through 2030
The Rooftop Solar EPC Market
is propelled by declining solar component costs, government incentives, and
heightened environmental awareness, making solar installations more financially
viable and accelerating adoption across residential, commercial, and industrial
sectors.
According to TechSci Research
report, “Rooftop Solar EPC Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2030F”, the Global Rooftop Solar EPC Market was valued at USD 16.32 Billion in 2024 and is expected to reach USD 23.15 Billion by 2030 with a CAGR of 5.84%. Technological innovations, such as bifacial
panels, high-efficiency PV cells, and smart inverters, enhance system
performance and make solar power more cost-effective. Additionally, the
integration of energy storage systems allows for consistent power supply, even
during non-sunny hours. Financial incentives, including Production Linked
Incentive schemes and viability gap funding, further support the adoption of
rooftop solar projects. The residential sector, in particular, benefits from
these initiatives, contributing significantly to the market's expansion. As
India progresses towards its renewable energy goals, the Rooftop Solar EPC
Market is poised for sustained growth, offering substantial opportunities for
stakeholders in the solar energy sector.
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Rooftop Solar EPC Market.”
Based on the End-User,
Residential segment held the largest Market share in 2024. The residential
segment of India's rooftop solar EPC (Engineering, Procurement, and
Construction) market is experiencing robust growth, propelled by a confluence
of policy support, economic incentives, and evolving consumer behavior. The
government's flagship initiative, the Pradhan Mantri Surya Ghar Muft Bijli
Yojana, allocates over USD 8,784.55 million to equip one crore households with rooftop
solar systems, offering up to 300 units of free electricity monthly and direct
bank subsidies. This initiative is complemented by the National Solar Mission's
target to achieve 100 GW of solar capacity, with a significant portion
earmarked for residential rooftop installations. Additionally, the introduction
of the national digital portal streamlines the installation process, enabling
consumers to select registered suppliers of their choice, thereby enhancing
accessibility and consumer confidence. Financially, the Central Financial Assistance
scheme provides subsidies ranging from USD 351.39 to USD 913.62, depending on system
capacity, making solar adoption more affordable for homeowners.
The escalating
electricity tariffs and the desire for energy independence further incentivize
residential consumers to invest in solar solutions. States like Gujarat,
Maharashtra, and Haryana are emerging as hotspots for residential rooftop solar
installations, driven by favorable policies and high electricity costs. The
market's momentum is also fueled by heightened environmental awareness and the
declining cost of solar technology, making it an attractive proposition for
homeowners seeking long-term savings and sustainability. Collectively, these
factors position the residential rooftop solar EPC market in India for
sustained and accelerated growth in the coming years.
Based on region, Asia Pacific
is the fastest-growing region in the Rooftop Solar EPC Market, driven by rapid
industrialization, urbanization, and increasing energy demands across countries
like China, India, and Southeast Asia. China leads in solar equipment
production, accounting for over 80% of global manufacturing stages, which has
significantly reduced solar power costs. India is also experiencing robust
growth, with government incentives such as the PM Surya Ghar Muft Bijli Yojana
offering subsidies up to 40% for rooftop solar installations. Additionally, the
region benefits from high solar insolation and a dense population increasingly
adopting renewable energy solutions. These factors position Asia Pacific as a
key growth hub for the rooftop solar EPC market, offering substantial
opportunities for industry players.
Major companies operating in
the Global Rooftop Solar EPC Market are:
- BELECTRIC GmbH
- Canadian Solar Inc
- CHINT Group
- CJR Renewables
- UAB Eternia Solar LT
- Goldi Solar Pvt Ltd.
- Jakson Group
- JUWI Group
- Mahindra Group
- Tata Power Solar Systems
Limited
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“The Global Rooftop Solar EPC
Market is expected to rise in the upcoming years and register a significant
CAGR during the forecast period. The Rooftop Solar EPC Market presents
substantial growth opportunities, driven by the escalating demand for sustainable
energy solutions across residential, commercial, and industrial sectors.
Government incentives, including subsidies and tax rebates, are improving the
affordability of solar installations, resulting in higher adoption rates.
Advancements in solar panel efficiency and energy storage technologies are
increasing the performance and reliability of rooftop solar systems. Moreover,
rising energy costs and heightened environmental awareness are motivating
businesses and consumers to invest in solar energy to lower operational costs
and reduce carbon footprints. The integration of smart grid technologies and
the expansion of net metering policies further bolster market growth. As
urbanization continues and energy demands rise, rooftop solar systems provide a
scalable and efficient solution, positioning the market for continued
expansion. Therefore, the Market of Rooftop Solar EPC is expected to boost in
the upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“Rooftop
Solar EPC Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented, By Capacity (Up to 1 kW, 1 to 10 kW, 10 to 50 kW, 50 kW to
1 MW), By End-User (Residential, Commercial and Industrial), By Region & Competition, 2020-2030F”,
has evaluated the future growth potential of Global Rooftop Solar EPC Market
and provides statistics & information on the Market size, structure, and
future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Rooftop Solar EPC Market.
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