Latest TMR Report Explores Impact of COVID-19 Outbreak on Rooftop Solar PV Market

Rooftop solar PV offers an efficient, emission-free renewable source of electricity which can be used off-grid as well as on-grid. Rooftop solar PV offers an effective and efficient method for reducing carbon footprint and generating electricity from solar radiation. The market for rooftop solar PV has been rapidly increasing with the support of government subsidies and tax credits. The rooftop solar PV market have attracted large number of equity investments and funding. Currently, there are two major silicon technologies available: monocrystalline and polycrystalline.

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The Energy Payback Time (EPBT) for 2 kWp rooftop solar systems is around two to three years, thus making these systems an economically viable and efficient alternative. Distributed PVs (DPVs) with a capacity of less than 100 kW are preferred for rooftop solar systems. However, as the difficulties with FIT persist for DPV, solar leasing has gained popularity and is expected to boost the rooftop solar market. Rooftop solar continues to depend on different incentive mechanisms that drive the demand such as technology-specific renewable portfolio standards (RPS) and tenders, tax credits, traditional feed-in tariffs or Power Purchase Agreements (PPAs).

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In terms of geography, Europe was the largest market for rooftop solar PV, accounting for more than 70% share in 2016. The Germany leads the rooftop solar PV market in Europe, with the government promoting rooftop solar PV systems by offering incentives and collaborations. Asia-Pacific follows Europe with China as a leading country, with the highest number of rooftop solar installations in the region. Asia Pacific also houses headquarters of several large rooftop solar PV companies. North America was the third-largest market for rooftop solar PV, in terms of market share, in 2016. US is the leading countries with major rooftop solar PV projects in North America. The market in Latin America is likely to grow at a significant rate with anticipated increase in commercial projects across South Africa, Chile, and Brazil in the near future.

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Key players in the Rooftop Solar PV market include Sharp Corporation, Trina Solar, Pristine Sun LLC, Solimpeks Corporation, Kyocera Corporation, JA Solar Co. Ltd., Yingli Solar, Vikram Solar, Canadian Solar Limited, RelyOn Solar Pvt Ltd. and Sunshot Solar Co. Ltd. In order to bolster their position, companies are focusing on product development, enhance outreach and expand client pool by means of strategic mergers & acquisition. In 2016, Sharp Corporation made a JV with Shigemitsu Shoji Co. Ltd. to work on first large solar power plant in Mongolia and in the same year they have signed an agreement with Big C Supercenter, Thailand largest hypermarket retailer, to construct rooftop solar system.
The global rooftop solar PV market has been segmented as follows:
Rooftop Solar PV Market: By Application
On-Grid
Off-Grid
Rooftop Solar PV Market: By Region
North America
oUS
oCanada
Europe
oGermany
oUK
oSpain
oItaly
oFrance
oRest of Europe

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