PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1290494
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1290494
Global Solar Roofing Market is valued at approximately USD 68.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 15.1% over the forecast period 2023-2030. Solar Roofing is a type of roof-mounted electrical system that generates power from solar energy. Solar roofing is a distributed power-generation technique that assists in meeting a building's energy demand while keeping within the boundaries of an existing distribution network. It is fast rising as a result of increased concerns about climate change and rising electricity expenses. This is moving the solar roofing industry ahead, as is the demand for power generation from renewable energy sources, as well as the existence of plentiful solar resources across the world.
Moreover, governments around the world are increasingly investing in renewable energy sources. This investment in renewable energy is leading to the growth of the Solar roofing market, as solar roofing turbines are widely used in residential and small-scale commercial applications. For instance, in Sept. 2021, the U.S. Department of Agriculture revealed that the Department is planning to invest USD 464 million to build or improve renewable energy infrastructure and to assist rural communities, agricultural producers and companies' lower energy costs in 48 states and Puerto Rico. USD 129 million of these projects have been funded by the USDA under the Rural Electricity for America Program. Also, in September 2022 the Andhra Pradesh State Investment Promotion Board (SIPB) offered investment possibilities for several businesses to increase green energy and The SIPB gave Green Ko permission to spend USD 246 billion in projects utilizing 4,230 MW of total renewable energy potential. Additionally, Advances in solar technology have made solar roofing more efficient also Solar roofing has also given rise to new business models such as solar leasing and power purchase agreements. However, High installation prices and the requirement for roof-mounted solar panel maintenance limit market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Solar Roofing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 Owing to the increase in carbon footprint, the U.S. Government has implemented stringent environmental regulations regarding the usage of fossil fuels and is encouraging the use of photovoltaic energy by enforcing policies According to Solar Energy Industry Association (SEIA) in 2021, the utility-scale cumulative U.S. solar installations is around 77,741 MWdc. Asia Pacific is expected to grow significantly during the forecast period, owing due to widespread use of solar energy in the generation of electricity for standalone systems and rural electrification also rising levels of disposable income, population growth, and rapid urbanisation, as well as increased awareness of energy efficiency and environmental development.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures are dummy in nature, final lists may vary in the final deliverable