Residential Solar Energy Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00126824
  • Format: Electronic (PDF)
  • Publish Type: Publish
  • Number of Pages: 250
Home Energy & Power residential solar energy market....
  • Single User $3500
  • Multi User $4500
  • Enterprise User $5500
Report Description Table Of Content Research Methodology Download Free Sample

Market Snapshot

CAGR:9.3
2023
2032

Source: Market Expertz

RND-Favicon
Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 9.3
Energy & Power-companies
Energy & Power-Snapshot

Gain accurate insights regarding the negative impacts of COVID-19 on all markets and industries

Download Sample Pdf
Download Sample Pdf

Report Overview

Residential Solar Energy Market Analysis By Application (Residential Rooftop Solar Panels, Solar Water Heating Systems, Solar Energy Storage Solutions), By Technology (Photovoltaic Systems, Solar Thermal Systems), and By Region Forecast to 2032:

Residential Solar Energy Market Analysis Report 2023-2032:

The Residential Solar Energy Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 billion in market size. The expansion of this market is influenced by several key factors, including the growing awareness of renewable energy, advancements in solar technology, and the increasing demand for sustainable and cost-effective energy solutions in residential settings. Residential solar energy systems harness the power of the sun to generate electricity and provide heating solutions for homes.

Residential Solar Energy Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Residential Solar Energy Market is the increasing awareness of renewable energy sources, especially among homeowners. Solar energy is considered a clean and sustainable alternative to conventional fossil fuels, making it an attractive option for reducing carbon emissions and energy bills.

Furthermore, advancements in solar technology, such as more efficient photovoltaic panels and innovative solar energy storage solutions, have made residential solar systems more affordable and accessible. These technological advancements enhance the overall efficiency and reliability of solar energy generation.

Trends:

An emerging trend in the Residential Solar Energy Market is the adoption of residential rooftop solar panels. Homeowners are increasingly installing solar panels on their rooftops to generate electricity for their households. This trend is driven by government incentives, net metering programs, and the desire for energy independence.

Additionally, solar energy storage solutions are gaining traction as homeowners seek ways to store excess energy generated during the day for use during the night or in case of power outages. Energy storage systems, including batteries, enhance the reliability and self-sufficiency of residential solar installations.

Restraints:

One of the key challenges hindering the growth of the Residential Solar Energy Market is the initial cost of solar panel installation. While long-term savings on energy bills are substantial, the upfront investment can be a barrier for some homeowners. However, government incentives and financing options have been introduced to address this challenge.

Moreover, solar energy generation is dependent on weather conditions and daylight hours, which can be inconsistent. This intermittency can lead to concerns about a continuous and reliable power supply for residential users.

Residential Solar Energy Market Segmentation By Application:

  • Residential Rooftop Solar Panels: The installation of solar panels on residential rooftops is a popular application. These panels convert sunlight into electricity for use within the home or to feed back into the grid, often earning homeowners energy credits.
  • Solar Water Heating Systems: Solar water heating systems use the sun's energy to heat water for residential use, such as bathing and household chores. They are an energy-efficient alternative to traditional water heaters.
  • Solar Energy Storage Solutions: Energy storage solutions, including batteries, store excess solar energy generated during the day for use at night or during power outages, increasing the self-sufficiency of residential solar installations.

Residential Solar Energy Market Segmentation By Technology:

  • Photovoltaic Systems: Photovoltaic (PV) systems use solar panels to directly convert sunlight into electricity. PV systems are commonly used in residential rooftop installations.
  • Solar Thermal Systems: Solar thermal systems capture solar energy to heat a fluid, which is then used to generate electricity or provide heating solutions for residential properties.

Regional Overview:


Download the report summary now!

Request pdf Sample

North America is poised to be a key contributor to the global Residential Solar Energy Market, accounting for approximately 38% of the market's growth during the forecast period. The region's favorable regulatory environment, government incentives, and increasing environmental awareness drive the adoption of residential solar energy systems.

Europe also plays a significant role in the market, with countries like Germany and Spain leading the way in residential solar installations. Government subsidies and feed-in tariffs have incentivized homeowners to invest in solar energy.

Residential Solar Energy Market Customer Landscape:

The Residential Solar Energy Market report encompasses the customer landscape, including homeowners and residential property owners. It delves into factors influencing customer adoption, such as government incentives, cost savings, and environmental considerations.

Major Residential Solar Energy Market Companies:

Companies in the residential solar energy market are continuously innovating to offer more efficient and cost-effective solutions to homeowners. These companies often provide installation, maintenance, and financing options for residential solar systems.

Example companies include:

  • SolarEcoTech Solutions: SolarEcoTech Solutions specializes in residential solar panel installations and energy storage solutions. They offer tailored solar energy packages to homeowners, including financing options.
  • SunPower Innovations: SunPower Innovations is known for its high-efficiency solar panels and comprehensive residential solar solutions. They provide monitoring services to help homeowners optimize their solar energy systems.
  • GreenEnergy Master: GreenEnergy Master focuses on cutting-edge solar thermal systems for residential heating and electricity generation. They offer eco-friendly and energy-efficient solutions for homeowners.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • SolarTech Corporation
  • HomeEnergy Solutions
  • EcoSolar Innovations
  • RenewablePower Systems
  • SunSavings Technologies
  • CleanEnergy Pros
  • SolarWise Solutions
  • PowerUp GreenTech
  • SustainableHome Energy
  • SunLife SolarTech

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their technological expertise, market share, and customer satisfaction.

Segment Overview:

The Residential Solar Energy Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Billion, 2019 - 2032):
    • Residential Rooftop Solar Panels
    • Solar Water Heating Systems
    • Solar Energy Storage Solutions
  • Technology Outlook (USD Billion, 2019 - 2032):
    • Photovoltaic Systems
    • Solar Thermal Systems
  • Geography Outlook (USD Billion, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Residential solar energy MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition   

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Residential solar energy MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Residential solar energy Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Residential solar energy Of Suppliers

    4.5.2. Residential solar energy Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Residential solar energy MARKET BY type landscape

SIGHTS & TRENDS                                                               

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Type 1

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Type 2

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Type 3

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Residential solar energy MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Residential solar energy MARKET REGIONAL OUTLOOK

7.1. Residential solar energy Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Residential solar energy Market Estimates And Forecast, 2016 – 2027 (USD Million)

    7.2.2. North America Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Residential solar energy Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Residential solar energy Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Residential solar energy Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Residential solar energy Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Residential solar energy Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Trina Solar Limited

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 Canadian Solar

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 JinkoSolar Holding Co., Ltd

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 SolarCity

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5 Company 5

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 Company 6

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 Company 7

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Company 8

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 Company 9

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10 Company 10

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

You can also purchase parts of this report. Do you want to check out a section wise price list?
Request for Special Pricing

Personalized Business Report Tailored to Your Requirements

  • Our expert analysts collaborate directly with you to comprehend your specific needs.
  • Get data on regions, segments, competitors, and vendors of your choice.
  • Information is presented in alignment with your exact preferences and formatting.
Request for customization
Report Snapshot
Free Sample Report

"Find new revenue generation opportunities"