Table of Contents
Overview
New York, NY – August 20, 2025 – The Global Rooftop Solar PV Market is projected to reach USD 109.2 billion by 2034, growing from USD 61.0 billion in 2024 at a CAGR of 6.0% from 2025 to 2034. The Asia Pacific region led with USD 21.2 billion in growth, driven by robust policy support and abundant solar potential.
Rooftop Solar Photovoltaic (PV) systems involve solar panels installed on residential, commercial, or industrial building rooftops to convert sunlight into electricity. This power can be used on-site, stored in batteries, or fed into the grid, depending on system design and local regulations.
The market is expanding due to declining solar panel costs, supportive government incentives, and rising conventional electricity prices. It encompasses panel manufacturers, installers, storage integrators, and utility partners. Rooftop PV is especially appealing in areas with high solar exposure and unreliable grids, where energy independence and cost savings drive adoption. Key growth drivers include the global push for renewable energy to cut greenhouse gas emissions.
Rooftop PV systems generate clean electricity at the point of use, reducing transmission losses and supporting climate goals. Advances in panel efficiency and energy storage have further boosted system viability. Recent developments highlight the role of public funding and policy. For instance, the Trump-era EPA aimed to reclaim $7 billion in rooftop solar grants, while India’s MNRE allocated ₹20 million to foster solar startup innovation. In the UK, Great British Energy committed £10 million to expand rooftop solar access.
Rising electricity costs and energy insecurity are fueling demand across developed and developing regions. Households and businesses are adopting rooftop PV for cost savings and reliability, with urbanization and smart city projects further accelerating uptake. Financial and institutional support is also growing. Dugar Finance, a rooftop solar-focused NBFC, raised $3 million in debt funding to support installations. Meanwhile, Telangana’s 81 MW rooftop solar tender reflects increasing government-led efforts to promote decentralized solar adoption.
Key Takeaways
- The Global Rooftop Solar PV Market is expected to be worth around USD 109.2 billion by 2034, up from USD 61.0 billion in 2024, and is projected to grow at a CAGR of 6.0% from 2025 to 2034.
- In the Rooftop Solar PV Market, terrace-mounted systems dominate with a 78.3% deployment share in 2024.
- Crystalline silicon technology leads the Rooftop Solar PV Market, capturing a strong 83.9% share globally.
- Grid-connected systems account for 69.2% of the Rooftop Solar PV Market, reflecting growing utility integration trends.
- The residential segment holds 49.6% in the Rooftop Solar PV Market, driven by rising household solar adoption.
- The Asia Pacific market value reached approximately USD 21.2 billion during the same year.
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Report Scope
| Market Value (2024) | USD 61.0 Billion |
| Forecast Revenue (2034) | USD 109.2 Billion |
| CAGR (2025-2034) | 6.0% |
| Segments Covered | By Deployment (Terrace Mounted, Pole Mounted), By Technology (Thin Film, Crystalline Silicon), By Grid Type (Off-Grid, Grid Connected), By End-Use (Residential, Commercial, Industrial) |
| Competitive Landscape | LONGi Group, SunPower Corporation, Trina Solar Co. Ltd., Indosolar Ltd, First Solar, Inc., E-Ton Solar Tech Co., Ltd., Jinko Solar Holding Co. Ltd., JA Solar Holdings Co. Ltd., Hanwha Q-cells, Canadian Solar Inc. |
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Key Market Segments
By Deployment Analysis
Terrace-mounted systems lead the rooftop solar PV market, holding a 78.3% share in 2024. Their dominance stems from their popularity in urban and semi-urban areas with abundant flat rooftop spaces. These systems offer flexible orientation and tilt adjustments, optimizing solar energy capture year-round.
Their straightforward, cost-effective installation, particularly on flat concrete roofs, makes them ideal for residential and commercial buildings. Terrace-mounted systems are adaptable across various structures, including homes, apartment complexes, schools, and commercial properties.
By Technology Analysis
Crystalline silicon dominates the rooftop solar PV market, capturing an 83.9% share in 2024. Its leadership is driven by high efficiency, long lifespan, and reliable performance across diverse climates. Comprising monocrystalline and multicrystalline variants, crystalline silicon is favored for rooftop installations where space optimization and high power output are critical.
A robust manufacturing base and established supply chain have reduced costs, enhancing affordability. These panels offer superior energy conversion rates, ideal for space-constrained rooftops, and their durability ensures resilience against environmental wear. Supportive government policies and financing models have accelerated adoption, particularly in decentralized energy markets.
By Grid Type Analysis
Grid-connected systems account for 69.2% of the rooftop solar PV market in 2024, driven by their prevalence in urban and semi-urban areas with reliable grid access. These systems enable users to consume solar power on-site while feeding excess electricity into the grid, leveraging net metering or feed-in tariffs for cost savings. Their affordability stems from reduced need for energy storage, as the grid serves as a virtual battery.
By End-Use Analysis
The residential sector commands a 49.6% share of the rooftop solar PV market in 2024, driven by homeowners’ desire to lower electricity bills, achieve energy independence, and support sustainability. Rising electricity costs, coupled with subsidies and net metering, have fueled residential adoption. Affordable system costs, improved financing, and accessible installation services have made solar viable for middle-income households.
Residential rooftops provide ideal, underutilized space for solar deployment, transforming idle infrastructure into productive energy assets. This trend is strong in regions with high solar potential and reliable grids. The residential sector’s lead highlights its role as a key driver of rooftop solar growth, fueled by economic and environmental priorities.
Regional Analysis
In 2024, the Asia Pacific led the global rooftop solar PV market with a 34.9% share, valued at USD 21.2 billion. This dominance is driven by soaring electricity demand, supportive policies, and abundant solar resources in countries like China, India, Japan, and Australia.
The region’s focus on renewable energy transitions and subsidies has spurred widespread adoption. North America saw significant growth, particularly in the U.S., due to residential installations and favorable net metering policies. Europe’s sustainability goals and high electricity prices drove deployments in residential and commercial sectors.
The Middle East & Africa showed steady growth, with urban and off-grid applications gaining traction. Latin America, led by Brazil and Mexico, is expanding through public-private initiatives. Asia Pacific’s lead reflects its large population, rapid urbanization, and proactive policies for decentralized solar solutions.
Top Use Cases
- Residential Energy Savings: Homeowners install rooftop solar PV to cut electricity bills by generating their power. These systems reduce reliance on expensive grid electricity, especially in areas with high retail prices. Net metering allows surplus energy to be sold back to the grid, enhancing savings and promoting energy independence for households.
- Commercial Cost Reduction: Businesses use rooftop solar PV to lower operational costs by producing electricity on-site. This is ideal for offices, warehouses, and retail spaces with large rooftops. Solar power offsets peak demand charges, and tax incentives or leasing options make installations affordable, boosting long-term financial benefits.
- Community Solar Projects: Rooftop solar PV enables community solar initiatives, where multiple households or businesses share a single system. This is perfect for apartments or renters without suitable roofs. Shared systems reduce costs, promote equitable access to clean energy, and support local grids through collective energy production.
- Off-Grid Power Solutions: In remote or unstable grid areas, rooftop solar PV provides reliable electricity. Paired with battery storage, these systems power homes, clinics, or schools independently. They’re cost-effective where grid connection is expensive or unreliable, ensuring energy access and supporting development in underserved regions.
- Smart City Integration: Rooftop solar PV supports smart city goals by integrating with urban infrastructure. Solar panels on public buildings, like schools or offices, generate clean energy, reduce emissions, and power smart technologies. This aligns with sustainability targets, enhances energy resilience, and promotes eco-friendly urban development.
Recent Developments
1. LONGi Group
LONGi is aggressively pushing the efficiency boundaries for rooftop applications with its Hi-MO series modules. A key recent development is the launch of Hi-MO X6, a new generation of anti-PID, all-weather module designed specifically for distributed generation.
2. SunPower Corporation
Recently restructuring its business, SunPower now operates as two separate entities: SunPower (focusing on residential and light commercial) and Maxeon Solar Technologies (handling panel manufacturing). For its rooftop business, SunPower continues to lead with its flagship A-Series panels, which are among the most efficient available.
3. Trina Solar Co. Ltd.
Trina Solar is bringing its large-format, high-wattage panel technology to the rooftop segment with modules like the Vertex S, designed for residential use. A significant recent development is the launch of the Vertex S+ (AC panel), which integrates a microinverter directly onto the panel, simplifying installation and improving safety.
4. Indosolar Ltd
Indosolar, a major Indian manufacturer, is focusing on aligning with the Indian government’s Production Linked Incentive (PLI) scheme to boost domestic manufacturing. A key recent development is their participation in expanding local production capacity to reduce reliance on imported solar cells and modules.
5. First Solar, Inc.
First Solar remains a unique player, focusing exclusively on its advanced thin-film cadmium telluride (CdTe) panels. Their recent developments are not rooftop-specific but have significant implications for it. They are commissioning their new Series 7 product line, designed for competitive utility-scale projects.
Conclusion
Rooftop solar PV is a versatile, cost-effective solution driving the shift to clean energy. It empowers households, businesses, and communities to save costs, achieve energy independence, and reduce emissions. With falling installation costs, supportive policies, and growing demand for sustainable energy, rooftop solar PV is poised for rapid growth, shaping a greener, more resilient energy future.
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