The Asia-Pacific rooftop solar panel market is estimated to grow at a considerable CAGR of 8.4% during the forecast period. The continued advancement in technology to produce next-generation solar panels is a major factor contributing to the growth of the rooftop solar panel market in the Asia-Pacific region. Rooftop solar panels are widely used by the residential sector to reduce high electricity bills. Rooftop solar panels cut down the bills and are more secure than any other electric resource which is why they are highly adopted in the residential sector. The key companies across the globe are highly inclined toward providing a new and reliable renewable energy source in collaboration with automation companies to support green power generation by harnessing solar energy which led to the growth of the rooftop solar panel market during the forecast period. For instance, in 2022, Siemens and Desert Technologies launched a joint venture to develop and invest in solar and smart infrastructure in several regions including Asia. Additionally, in January 2021, JA Solar announced that it supplies all PV modules and desires to complete the 88MW project in Guam. The investment is done in Korea and is constructed by Korea electric power this project will be the largest single PV plant in Guam. With JA solar high-quality products, improved reputation, and efficient electric transmission and distribution, Korea electric power has established a good cooperative relationship. The factors contributing to the growth of the rooftop solar panel market in this region include government initiatives toward renewable energy generation and subsidies for solar panel installations. According to the National Survey Report of PV Power Applications in China, in 2019 the annual photovoltaic power generation capacity was 22.43 billion kWh, accounting for 3.1% of China's total annual power generation (723.41 billion kWh), an increase of 0.5% year-on-year.
Browse the full report description “Asia-Pacific Rooftop Solar Panel Market Size, Share & Trends Analysis Report by Panel Type (Monocrystalline, Polycrystalline, Thin-Film, and Others), and by End-User (Residential Sector and Commercial Sector) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/asia-pacific-rooftop-solar-panel-market
Market Coverage
Segment Covered-
Competitive Landscape – Evergreen Solar, JA SOLAR Technology Co., Ltd., Sharp Corp., Suzhou Talesun Solar Technology Co., Ltd, Tata Power Solar Systems Ltd, and others.
Key questions addressed by the report
oDeviation from the pre-COVID-19 forecast
oMost affected region and segment
Asia-Pacific Solar Panel Market Report Segment
By Panel Type
By End-User
Asia-Pacific Solar Panel Market Report Segment by Country
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