Rooftop Solar PV Market 2030: Cost-Effective Solutions for All

The global rooftop solar PV market was valued at USD 63.4 billion in 2024 and is projected to reach USD 88.9 billion by 2030, expanding at a CAGR of 5.8% from 2025 to 2030. Market growth is primarily driven by the increasing demand for clean and sustainable energy. Rooftop solar PV systems utilize panels installed on building rooftops to convert sunlight into electricity. Additionally, factors such as population growth and accelerating industrialization in specific countries significantly contribute to market expansion.

Government initiatives and a rising emphasis on renewable energy adoption are pivotal to the rooftop solar PV market’s growth. Several nations support solar implementation through subsidies, tax incentives, and feed-in tariff schemes. These systems not only generate clean electricity but also play a crucial role in reducing carbon emissions, aligning with global climate goals.

Technological advancements have notably reduced the cost of solar PV systems and installations, making them accessible to a broader population. Rooftop solar PV presents a cost-effective alternative amid rising conventional energy prices, offering long-term savings on electricity expenses. Moreover, in regions with unstable grid supply, these systems offer energy independence. Net metering policies further enhance financial feasibility by allowing users to sell surplus electricity back to the grid.

Environmental consciousness, particularly around fossil fuel impacts and energy cost savings, is increasingly influencing both businesses and households to opt for rooftop solar PV. Rapid urbanization and the associated spike in energy consumption have encouraged governments to implement energy transition strategies. These include national and global commitments aimed at achieving net-zero emissions by 2050, which further propels the market forward.

Key Market Trends & Insights

• By Technology: Thin film rooftop solar PV systems led the global market, accounting for the highest revenue share of 41.32% in 2024. This dominance is largely due to substantial investments in the renewable energy sector.
• By Grid Type: The on-grid rooftop solar PV segment held the largest share at 85.1% in 2024, mainly due to benefits such as cost savings and net metering, which enables users to feed excess electricity back to the grid for credits and incentives.
• By Application: The industrial segment dominated in 2024 with a 40.1% revenue share. This trend is driven by declining costs in solar panel technology, installation, and maintenance, making it a financially viable option for businesses.
• By Region: The Asia Pacific region accounted for the highest market share at 31.4% in 2024. Growth in this region is fueled by favorable government policies and heightened energy efficiency awareness, alongside rapid infrastructure development and growing energy demand from commercial and industrial sectors.

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Market Size & Forecast

• 2024 Market Size: USD 63.4 Billion
• 2030 Projected Market Size: USD 88.9 Billion
• CAGR (2024–2030): 5.8%
• Largest Market (2024): Asia Pacific
• Fastest Growing Market: Middle East & Africa

Key Companies & Market Share Insights

Leading companies in the rooftop solar PV market include 3M, Koninklijke Philips N.V., Pentair PLC, Panasonic, and others. These players enhance market value through advanced technologies, strong global presence, and customer-centric services. Their innovations focus on high-efficiency panels and hybrid systems to increase energy independence. Partnerships with local distributors, EPC contractors, and robust R&D investments further strengthen their market position.

• 3M is a key manufacturer providing solar equipment, installation services, and materials such as solar films, coatings, and tapes. It actively participates in global renewable initiatives like RE100, aiming to transition to 100% renewable energy by 2050.
• Panasonic offers high-efficiency solar panels such as its EverVolt series, renowned for performance and durability. Although the company has ceased in-house solar panel production, it now outsources manufacturing to concentrate on design and quality, emphasizing premium solar solutions.

Key Players

• 3M
• Koninklijke Philips N.V.
• Pentair PLC
• Panasonic
• Unilever PLC
• LG Electronics
• EcoWater Systems
• A.O. Smith
• Cilligan International
• Kinetico Incorporated

Browse Horizon Databook for Global Rooftop Solar Pv Market Size & Outlook

Conclusion

The global rooftop solar PV market is witnessing robust growth, driven by increasing demand for clean energy, supportive government policies, and continuous technological advancements that have significantly reduced system costs. As environmental concerns escalate and energy consumption rises-particularly in rapidly urbanizing regions-rooftop solar PV has emerged as a key solution for sustainable power generation. With Asia Pacific leading the market and the Middle East & Africa showing the fastest growth potential, the sector is poised for significant expansion through 2030. Key market players continue to drive innovation, cost efficiency, and strategic partnerships, reinforcing the global shift toward decentralized, low-carbon energy solutions.