The Crystalline Silicon segment is expected to dominate the market in the forecast period.
High Domestic Rooftop Solar
Potential and Declining Cost of Solar PV Systems are the factors driving the
market growth in the forecast period.
According
to TechSci Research report, “Asia Pacific Rooftop Solar Market – By Country,
Competition, Forecast and Opportunity, 2018-2028F”, The Asia Pacific
Rooftop Solar Market is expected to grow at an impressive CAGR. Asia Pacific's
rooftop solar market is poised for growth due to a convergence of factors.
Declining solar panel costs make clean energy affordable, while supportive
government policies, like incentives and regulations, encourage adoption.
Rising energy demand driven by economic growth necessitates alternative
solutions, and solar power offers a decentralized response. Advances in
technology enhance efficiency and energy storage capabilities. Corporate
sustainability objectives and job creation opportunities further fuel adoption.
This amalgamation of affordability, policy support, energy demand, technology,
and corporate responsibility positions the region for substantial rooftop solar
market expansion.
Crystalline
silicon photovoltaic (PV) technology employs solar cells made from silicon
crystals to convert sunlight into electricity. It includes monocrystalline
cells with high efficiency from single crystals and polycrystalline cells with
cost-effective multiple crystals. Commonly used in rooftop solar installations,
it offers reliable energy generation for diverse applications. Its efficiency,
reliability, and continuous advancements have made it a prominent choice in
Asia Pacific.
Browse
over XX market data Figures spread through 130 Pages and an in-depth TOC on the
" Asia Pacific Rooftop Solar Market."
Asia Pacific Rooftop Solar Market is divided into Technology, Grid-type, End-Use
and Region. Based on Technology, the market is divided into Thin Film and
Crystalline Silicon. Based on Grid-type, the market is divided into Grid
Connected and Off-grid. Based on End Use, the market is divided into
Residential, Commercial, Industrial.
Based on
Technology, the market is divided into Crystalline Silicon PV and Thin Film PV.
With the largest market share and projected significant growth over the
foreseeable period, the crystalline silicon PV industry now dominates the
market. Crystalline panels are the most common type of solar panel used in
residential and commercial applications due to their higher efficiency and
reliability.
Based on
End Use, the Commercial and Industrial Segment is Expected to Dominate the
Market. More than half of Asia Pacific rooftop solar installations are in the
commercial and industrial sectors. The development of innovative technology and
supportive policies are essential for the expansion of the business and
industrial sector. Instead of only considering rooftop solar systems with the
grid serving as storage (net/gross metering), Asia Pacific authorities need to
plan for rooftop solar systems and storage. In comparison to the conventional
grid supply and diesel generators, the combination produces electricity more
affordably. Due to affordability and the demand for technology, the commercial
and industrial sector in Asia Pacific is anticipated to experience considerable
market expansion over the forecast period. Due to being one of the largest
energy consumers, the commercial and industrial sector typically pays higher
electricity expenses. The industry has the most advantageous use profiles and
stands to gain from the installation of rooftop solar PV systems across
substantial roof areas.
Key
market players in the Asia Pacific Rooftop Solar Market include:
- JA Solar Holdings Co., Ltd.
- JinkoSolar Holding Co., Ltd.
- Suntech Power Holdings Co., Ltd.
- Yingli Green Energy Holding Co., Ltd.,
- Canadian Solar Inc.
- Huawei Technologies Co.,
Ltd.
- Sungrow Power Supply Co. Ltd
- Trina Solar Limited
- Hanwha SolarOne Co. Ltd.
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“The
Asia Pacific rooftop solar market has been driven by a confluence of factors
that have propelled its growth. Firstly, declining solar panel costs have made
solar energy increasingly accessible, spurring adoption among residential,
commercial, and industrial consumers. Government policies and incentives, such
as feed-in tariffs, tax credits, and favorable regulations, have created a
conducive environment for investment in rooftop solar installations. Environmental
concerns, including climate change and pollution, have heightened awareness,
prompting individuals and businesses to opt for cleaner energy sources. As
economic growth and urbanization surge, rising energy demand drives the need
for alternative solutions, with rooftop solar providing a decentralized means
to meet such demand. In remote areas, solar energy serves as a reliable source
of electricity, enhancing energy access and grid stability. Technological
advancements, including improved efficiency and energy storage solutions, have
bolstered the viability of rooftop solar. Corporate sustainability goals have
also led businesses to embrace solar power to reduce their carbon footprint and
showcase environmental responsibility. Additionally, job creation across
various sectors has been spurred by the burgeoning rooftop solar industry. The
Asia Pacific region's journey towards sustainable energy is significantly
shaped by these drivers, as they collectively foster economic growth, energy
security, environmental stewardship, and technological progress. Owing to that
the market is expanding in the future.” Mr. Karan Chechi, Research Director
with TechSci Research, a research-based Global management consulting firm.
“Asia Pacific Rooftop Solar Market
Segmented by Technology (Thin Film, Crystalline Silicon), by Grid-type (Grid Connected,
Off-grid), by End-use (Residential, Commercial, Industrial), By Country,
Competition, Forecast and Opportunities, 2028” has evaluated the future growth potential of Asia
Pacific Rooftop Solar Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Asia Pacific
Rooftop Solar Market.
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