Rooftop Solar Market - Forecast(2022 - 2027)
The global rooftop solar market size was valued at $62.4 billion in 2019 and is projected to progress at a compound annual growth rate (CAGR) of 6.9% from 2020 to 2025. Major factors contributing towards driving the market are rising deployment of renewable energy for electricity generation coupled with abundant availability of solar energy in most parts of the world. Moreover, rooftop solar PVs are an efficient solution for the fluctuating electricity prices and hence are used in various verticals. Due to the fact that the price of power produced from these photovoltaic can be measured with ease, end-use segments can measure their electricity generation costs for another ten years. Over the forecast period, this trend will positively influence the industry landscape.