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Solar rooftop are the solar panels that are placed on the different types of infrastructures. This arrangement is often referred as solar rooftop photovoltaic system. This type of system provides clean form of energy which means it does not form any kind of pollution and does not release harmful gases in the atmosphere. Moreover, this renewable type of energy produced is ecologically and environmentally sustainable and harmless.
The increasing adoption of solar rooftop to produce clean energy is thriving the market. The depleting reserves of fossil fuels like petroleum, crude oil and natural gas is leading towards the development of clean, green and renewable type of energy resources. This is expected to boost the market. Additionally, the stringent rules imposed by governments on use of fossil fuels that produce pollutants like CO and CO2 shall foster the market growth.
However, installation of solar rooftop is one-time expenditure and involves technical skills and knowledge. The cost of the solar panels and its installation charges are slightly higher than the other sources of energy. This shall hinder the market growth.
Key Market Driver -
Increasing adoption of clean energy resources.
Key Market Restraint -
High installation cost.
Based on connectivity, the market is segmented into on-grid and off-grid. Based on application, the market is segmented into commercial, industrial, residential and other.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global solar rooftop market consists of global & regional players operating. Some of the key players in the market include Hanwha Q CELLS Co. Ltd., SolarCity Corporation, Shunfeng International Clean Energy Limited, SolarWorld AG, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., Pristine Sun LLC, Kyocera Corporation, Vikram Solar, Sunshot Solar Co. Ltd., SunPower Corporation, Solimpeks Corporation, JA SOLAR Holdings Co. Ltd., and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is holds the largest share in the solar rooftop market attributed to the high industrial and commercial growth. The large manufacturing base in China and India requires large electricity for all industrial operation which is expected to boost the regional market. North America is estimated to hold second largest share due to the stringent rules imposed regarding the use of fossil fuels and polluting sources of energy. Europe is expected to show substantial growth due to the adoption of cleaner and greener source of energy supporting the rising awareness in consumers. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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