Solar Roofing Market size was valued at US$ 62.3 Billion in 2021, and anticipated to grow at a CAGR of 16.2% over the forecast period.
A sort of roof-mounted electrical system that turns solar energy into electricity is called solar roofing. A distributed power-generating system, such as solar roofing, can help meet the energy needs of a structure while operating either on- or off-grid inside an existing distribution network. The scale of the building determines the installation’s size, which might change significantly. Compact solar roofing systems are installed on the rooftops of both residential and commercial structures.
A type of roofing known as solar roofing employs solar panels to capture and store solar energy. Then, residences or businesses might be powered by this energy. Increasingly more people are utilizing solar roofing because of its many advantages. By offering a clean, sustainable source of energy, solar roofs may allow you to reduce the cost of your energy bills. With the added insulation that solar panels offer, you can keep your house or place of business colder in the summer and warmer in the winter. Solar roofs are an environmentally friendly solution for both houses and businesses because they have no adverse effects on the environment.
The worldwide solar rooftop industry is quite active and is anticipated to grow rapidly over the coming years. A solar rooftop photo voltaic (PV) system uses solar panels positioned on a building’s roof to transform the sun’s light energy into electrical energy. Solar rooftop systems have two options: they can be off-grid with battery storage or connected to the grid. They have system ratings ranging from 10 kW to more than 100 MW for industrial, commercial, and residential applications, respectively.
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Key Companies Insights
Some of the major companies studied under the market scope are as follows: Hanwha Group, Trina Solar, LONGi, JA SOLAR Technology Co.,Ltd, SunPower Corporation, Indosolar, Canadian Solar, Jinko Solar, CleanMax Enviro Energy Solutions Pvt. Ltd, Thermax, and Others. Major players operating in the ecosystem experiences intense competition owing to the presence of large number of players on the global scale. Further, players are adopting various strategies such as merger and acquisition, geographic expansion, product launch, research & development for expanding their product portfolio, and others.
In 2022, The innovative Timberline Solar roof was introduced to Austin area residents by GAF Energy, a subsidiary of Standard Industries and the leading provider of solar roofing. The only solution that combines solar technology directly with conventional roofing methods and materials is Timberline Solar. This revolutionary system includes the first nailable solar shingle in the world, the Timberline Solar Energy Shingle ES, which is made in the United States at GAF Energy’s production and research facility.
Segments
By Type
- Thin Film
- Crystalline
- Others
By Grid Type
- On-Grid
- Off-Grid
By Installation Type
- Residential
- Commercial
- Utility-scale
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- The competitive environment includes the proportions of important players, recent innovations, and strategy.
- Companies with extensive product offerings, pertinent financial data, recent advancements, SWOT analyses, and player tactics.
- Quantitative, qualitative, value (in USD million), and volume (in units million) data are among the segments and sub-segments.
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