Market Size of Australia Rooftop Solar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 9.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Australia Rooftop Solar Panel Market Analysis
The Australian rooftop solar market is expected to register a CAGR of more than 9% during the forecast period.
The outbreak of COVID-19 negatively impacted the market. Currently, the market has reached pre-pandemic levels.
- Factors such as declining solar PV and associated equipment costs and increasing rooftop solar installations are expected to be significant drivers for the market.
- However, a lack of general awareness, the high cost of electricity storage, and competition from alternative clean energy sources are expected to hinder the market's growth during the forecast period.
- Australia is expected to have the highest share of solar power, with nearly 40% of the electricity grid, by 2050, which is expected to provide opportunities in the Australian solar rooftop market in posterity.
Australia Rooftop Solar Panel Industry Segmentation
Solar is one of the renewable energy sources that generate electricity through the sun. The Australia Rooftop Solar energy market is segmented by end-user. By end-user, the market is segmented into residential and commercial and industrial (C&I). For each segment, the market sizing and forecasts have been done based on installed capacity (megawatts).
Australia Rooftop Solar Market Size Summary
The Australian industrial solar rooftop market is poised for significant growth, driven by declining costs of solar photovoltaic (PV) systems and increasing electricity prices. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue expanding. Key factors propelling this growth include the widespread adoption of rooftop solar installations across residential and commercial sectors, with Australia being a leader in solar PV adoption. The residential segment, in particular, dominates the market, supported by government initiatives such as the solar credit scheme, which offers financial incentives for solar system installations. Despite challenges like limited awareness and competition from other clean energy sources, the market's potential remains robust, with opportunities for further expansion in the coming years.
Australia's commitment to increasing its solar power share in the electricity grid, projected to reach a substantial percentage by 2050, underscores the long-term viability of the rooftop solar market. The eastern states, including Queensland, New South Wales, South Australia, and Western Australia, are at the forefront of installations, contributing significantly to the country's solar capacity. The market is moderately fragmented, with key players like Risen Energy Co. Ltd, Trina Solar, and Tindo Solar actively participating. Innovations such as the deployment of advanced solar microinverters and large-scale projects like Australia's largest roof-mounted solar storage project highlight the dynamic nature of the industry. As the cost of solar PV continues to decline, the market is expected to experience sustained demand, driven by both economic and environmental considerations.
Australia Rooftop Solar Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Rooftop Solar Installed Capacity and Forecast in MW, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION - BY END USER
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2.1 Residential
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2.2 Commercial and Industrial (C&I)
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Australia Rooftop Solar Market Size FAQs
What is the current Australia Rooftop Solar Market size?
The Australia Rooftop Solar Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in Australia Rooftop Solar Market?
Energy Matters, GEM Energy, Tindo Solar, Trina Solar and Risen Energy Co., Ltd. are the major companies operating in the Australia Rooftop Solar Market.
