Global Rooftop Solar Panel Market Size, Industry Trends, Share and Forecast 2018-2023

By | July 20, 2020

The global rooftop solar panel market size was valued at USD 18,375 million in 2018 and expected to register a CAGR 7.7% during the forecast period. The market is rapidly growing and is showing promising growth opportunities during forecast period majorly due to the increasing energy demand across the globe. It is witnessing positive growth owing to the reduction in the price of the rooftop solar panel. Furthermore, awareness among people and government incentives are boosting the demand for rooftop solar panel across the globe. The growth of rooftop photovoltaics is tremendously dynamic and varies strongly by country. In 2016, the cumulative photovoltaic capacity increased by 71 gigawatts (GW) and reached at least 291 GW. The top installers of 2016 were China, the US, and India. Apart from this, favorable initiatives by the European and North American government to support the growth of rooftop solar panel market globally establish a strong platform for the rooftop solar panel market.

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Author: lareb khan

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