The global solar panel for home market is anticipated to grow at a CAGR of 7.5% during the forecast period (2023-2030). The rising residential solar panel revolution in emerging economies such as India is a key factor driving the growth of the global solar panel for home market. India’s residential rooftop solar capacity could increase by approximately 60.0% by the end of financial year 2022-23 as compared to the last fiscal, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research and Analysis. An increase in consumer awareness and “strong government support”, which includes a new direct benefit transfer mechanism that ensures that consumers will receive subsidies easier and faster is a key factor contributor behind this growth.
Browse the full report description of “Solar Panel for Home Market Size, Share & Trends Analysis Report by Technology (Thin Film and Crystalline Silicon), and by Grid Type (On Grid and Off Grid) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/solar-panel-for-home-market
As per the recently updated Nationally Determined Contribution (NDC) that India submitted to the United Nations Framework Convention on Climate Change under the Paris Agreement of 2015, India has promised to achieve about 50.0% of cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. Generating more solar power – often touted as a clean and green source of power – is a critical component of this transition. Utility-scale solar – such as large commercial parks – rules the roost when it comes to solar power in India. In Jharkhand, for instance, 3,000 megawatt (MW) out of the total deployed 4,000 MW is utility-scale. As per one estimate, India has added more than 50 gigawatts (GW) of utility-scale solar capacity as of August 2022. Although, currently industrial and commercial solar power installations are high, an increase in residential solar panel is anticipated during the forecast period.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Technology
o By Grid Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including SunPower Corp., Canadian Solar Inc., First Solar Inc., JA Solar Holdings Co., Ltd., and Jinko Solar Holding Co., Ltd. among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Solar Panel for Home Market Report Segment
By Technology
By Grid Type
Global Solar Panel for Home Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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