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Technavio, a market research and analysis agency, predicts that the global rooftop solar market will grow at a compound annual growth rate of more than 9%
from 2018 to 2022.
The report predicts that in 2018, the global rooftop solar market will grow by 9.
26%.
However, as the year-on-year growth rate declines, the market growth momentum will gradually slow down
.
Increasing focus on self-consumption is expected to be a key trend
impacting the market.
Solar PV is one of the
most commonly used distributed generation technologies.
These distributed solar PV units can be connected to the grid to store the excess electricity
generated.
In this report, Technavio analysts highlighted rising electricity prices as a key factor
contributing to the growth of the global rooftop solar market.
Global population growth and urbanization have led to a continuous increase
in power generation.
As a result, utilities are running power plants at full capacity to generate more power
from existing infrastructure.
The gradual increase in electricity costs is mainly due to investments by utilities and utilities in transmission and distribution equipment to upgrade existing infrastructure and add new power resources
.
According to Technavio's senior analyst at Power Research, "rising energy costs have led to energy-saving measures, such as encouraging people to generate their own electricity
.
The falling cost of solar PV technology makes it competitive
with grid electricity prices.
In addition, rooftop photovoltaics provide reliable and clean electricity, which increases their use
in residential and non-residential buildings.
”
The non-residential segment had a larger
market share in 2017 due to the higher system capacity required for power generation.
The adoption of renewable energy technologies is gaining ground, as these technologies help protect the environment and avoid paying carbon taxes
, if applicable.
In 2017, Asia Pacific accounted for nearly 77% of the global rooftop solar market, followed by the Americas and Europe, the Middle East and Africa
.
The Asia-Pacific region is expected to grow its market share by 3% in 2022 and decline in the other two regions
.
It is estimated that by 2022, the cumulative installed capacity of new rooftop solar PV in the world will reach 17.
12 GW, of which 85% of the growth will come from the Asia-Pacific region
.
Technavio, a market research and analysis agency, predicts that the global rooftop solar market will grow at a compound annual growth rate of more than 9%
from 2018 to 2022.
The report predicts that in 2018, the global rooftop solar market will grow by 9.
26%.
However, as the year-on-year growth rate declines, the market growth momentum will gradually slow down
.
Increasing focus on self-consumption is expected to be a key trend
impacting the market.
Solar PV is one of the
most commonly used distributed generation technologies.
These distributed solar PV units can be connected to the grid to store the excess electricity
generated.
In this report, Technavio analysts highlighted rising electricity prices as a key factor
contributing to the growth of the global rooftop solar market.
Global population growth and urbanization have led to a continuous increase
in power generation.
As a result, utilities are running power plants at full capacity to generate more power
from existing infrastructure.
The gradual increase in electricity costs is mainly due to investments by utilities and utilities in transmission and distribution equipment to upgrade existing infrastructure and add new power resources
.
According to Technavio's senior analyst at Power Research, "rising energy costs have led to energy-saving measures, such as encouraging people to generate their own electricity
.
The falling cost of solar PV technology makes it competitive
with grid electricity prices.
In addition, rooftop photovoltaics provide reliable and clean electricity, which increases their use
in residential and non-residential buildings.
”
The non-residential segment had a larger
market share in 2017 due to the higher system capacity required for power generation.
The adoption of renewable energy technologies is gaining ground, as these technologies help protect the environment and avoid paying carbon taxes
, if applicable.
In 2017, Asia Pacific accounted for nearly 77% of the global rooftop solar market, followed by the Americas and Europe, the Middle East and Africa
.
The Asia-Pacific region is expected to grow its market share by 3% in 2022 and decline in the other two regions
.
It is estimated that by 2022, the cumulative installed capacity of new rooftop solar PV in the world will reach 17.
12 GW, of which 85% of the growth will come from the Asia-Pacific region
.
