Rooftop solar PV installation is an electrical installation that converts solar energy into electricity. Within the recent years, solar photovoltaic rooftop has emerged as a potential green technology to combat climatic change by decreasing dependence on conventional fossil fuel based mostly energy. Rooftop solar PV systems are distributed power generation systems that helps to fulfil buildings energy desires by offer electricity inside an existing distribution network. The rooftop PV (RTPV) systems are smaller in size and are installed on rooftop residential and industrial buildings.
According to the study, ‘World Rooftop Solar Photovoltaic (PV) Installation Market Research Report 2024 (Covering USA, Europe, China, Japan, India and etc)’ it is states that there are numerous company which presently functioning with success for dominate the foremost effective enlargement of the market and obtaining the productive competitive edge while accepting the productive techniques like joint ventures, mergers and acquisitions, partnership, merger and merchandise development includes Trina Solar, Sun Power, Canadian Solar, Solar world, Hanwha, Yingli, Jinko Solar, Kyocera Solar, JA Solar, Sharp, Longi Solar, First Solar, Risen, Eging PV, GCL and several others.
Rooftop solar shows an enormous potential by the entire utilization of unutilized rooftops. Rooftop solar PV are used in urban areas, due to handiness of taller and multi-storey buildings. Moreover, solar RTPV systems exhibit large potential within the developing countries, like India, wherever transmission and distribution losses through utility are more than 30%. Furthermore, the rise in demand for energy in addition to depletion of fossil fuels, has more led to the demand of rooftop solar PV systems in each residential and industrial spaces.
Moreover, solar energy being renewable source of energy, helps to fulfil the country specific policy goals for secure, reliable, and reasonable energy by providing electricity access with lesser worth variations. And so, decrease in price of solar energy has led to the demand for production of solar power that proves to be an economical resolution.
The regional investigation of world Rooftop Solar Photovoltaic (PV) installation market is taken into the account for the key regions like USA, Europe, Japan, China, India and last one is South East Asia. Europe is predicted to the most prominent country across the globe due of the enforcement of demanding regulatory norms within the region. Whereas, North America is in addition anticipated to exhibit highest rate / CAGR over the forecast period 2020-2026.
Furthermore, the world rooftop solar photovoltaic installation market has witnessed a rise in demand, due to the provision of solar energy and increase in demand for electricity. Moreover, varied encouraging and incentivized steps are taken by government, like feed-in-tariff in addition to introduction of gross metering policy has further led to development of rooftop solar PV. Additionally, rise in adoption of distributed PV technology globally is predicted to spice up the market growth. Thus, the Rooftop Solar Photovoltaic (PV) Installation Market will increase in forthcoming years.
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Ankur Gupta, Head Marketing & Communications