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South America Rooftop Solar Market Size (2024 - 2029)

The South America rooftop solar market is poised for growth, driven by supportive government policies and heightened environmental awareness. The market's expansion is further supported by the decreasing costs of photovoltaic panel production and the increasing demand for reliable power supply. Despite challenges such as high electricity storage costs and initial investment barriers, the market is expected to benefit from opportunities arising from electricity shortages and the need for continuous power. The commercial segment is significant, with potential growth in industrial installations linked to smart city initiatives. Brazil is anticipated to lead the region in market size, driven by its ambitious solar generation targets.

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Market Size of South America Rooftop Solar Industry

South America Rooftop Solar Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

South America Rooftop Solar Market Analysis

The South America solar rooftop market is expected to grow at a CAGR of over 5% during the forecast period. Factors such as the government policies that drive the rooftop solar installation, along with increased awareness towards environmental concerns are expected to drive the rooftop solar market during the forecast period. Moreover, a reduction in the cost of producing photovoltaic panels and the demand for uninterrupted power supply is expected to augment the market. However, the high cost of electricity storage and the high initial cost of investment for setting up solar PV in rooftops is expected to hinder the growth of the market studied.

  • Commercial rooftop is one of the largest segment under the rooftop solar market in South America, that are used to generate electricity for commercial purpose. Apart from residential rooftop solar photovoltaic installations, commercial and industrial rooftop installations are expected to grow with smart city initiatives.
  • Due to increasing blackouts in the country leading to electricity crisis and increasing demand for continuous power, several opportunities are expected for the market players in South America to fill-in the supply and demand gap.
  • Brazil is expected to be the largest market for rooftop solar in the region, owing to country's aim to increase its solar generation to 7 GW capacity. In addition, Brazilian Development Bank (BNDES) is expecting to invest USD 2.5 billion in solar development from 2018.

South America Rooftop Solar Industry Segmentation

The South America rooftop solar market report include:

Location of Deployment
Residential
Commericial
Industrial
Geography
Brazil
Chile
Argentina
Rest of South America
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South America Rooftop Solar Market Size Summary

The South America rooftop solar market is poised for significant growth, driven by supportive government policies and increasing environmental awareness. The market is expected to expand steadily, with commercial rooftop installations playing a pivotal role due to their capacity to generate electricity for business purposes. The demand for uninterrupted power supply, coupled with the decreasing cost of photovoltaic panels, is further propelling market expansion. However, challenges such as the high initial investment costs and the expense of electricity storage systems may impede growth. Brazil is anticipated to lead the region's market, supported by its ambitious solar generation targets and substantial investments from the Brazilian Development Bank.

The solar energy sector in South America has seen a remarkable increase in installed capacity, with Brazil and Chile being the primary contributors. Brazil's solar market is thriving due to rising electricity demand and government initiatives to enhance renewable energy's share in the national grid. Argentina's RenovAr Program also supports solar projects, offering subsidies and feed-in tariffs to encourage commercial solar installations. The region's rooftop solar market benefits from the alignment of solar energy generation with peak industrial operational hours, reducing reliance on the national grid. Brazil's strategic investments and regulatory advancements, such as the net metering program, are expected to further stimulate market growth, offering substantial opportunities for solar module manufacturers and contributing to the region's renewable energy landscape.

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South America Rooftop Solar Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Power Capacity and Forecast in GW, until 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location of Deployment

      1. 2.1.1 Residential

      2. 2.1.2 Commericial

      3. 2.1.3 Industrial

    2. 2.2 Geography

      1. 2.2.1 Brazil

      2. 2.2.2 Chile

      3. 2.2.3 Argentina

      4. 2.2.4 Rest of South America

South America Rooftop Solar Market Size FAQs

The South America Rooftop Solar Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Canadian Solar Inc, First Solar Inc., JinkoSolar Holding Co. Ltd, Trina Solar Limited and Enel SPA are the major companies operating in the South America Rooftop Solar Market.

Rooftop Solar Market in South America Report Snapshots

South America Rooftop Solar Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)