North America Rooftop Solar Market Size (2024 - 2029)

North America Rooftop Solar Market Size Summary

The North America rooftop solar market is poised for substantial growth, driven by favorable government policies such as net metering, which incentivizes users by allowing them to sell excess electricity generated from solar photovoltaic installations. The reduction in installation costs for solar panels further supports market expansion, despite challenges like the high cost of electricity storage solutions. The increasing space constraints in major cities, however, may hinder the market's growth as demand for alternative renewable energy sources like offshore wind energy rises. The residential sector, in particular, is expected to lead market growth, fueled by a shift towards greener and cleaner distributed grid systems, offering significant opportunities for rooftop solar players.

The United States is anticipated to dominate the North American rooftop solar market, benefiting from its substantial installed solar power capacity and a strong shift towards clean energy sources. The country's focus on reducing environmental impact and leveraging the economic benefits of domestic solar power generation aligns with the growing demand for clean energy. Rooftop solar installations provide modern electricity services to households without access to electricity, particularly in remote locations, and enable residents and small businesses to generate their own power. The fragmented market includes key players such as Solarcity Corporation, Yingli Solar, Wuxi Suntech Power Co. Ltd., and Sunpower Corporation, among others, contributing to the competitive landscape during the forecast period.