Rooftop Solar PV Market Size To Reach $88.9 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

Rooftop Solar PV Market Growth & Trends

The global rooftop solar PV market size is expected to reach USD 88.9 billion by 2030, exhibiting a CAGR of 5.8% from 2025 to 2030, according to a new report by Grand View Research, Inc. Growing deployment of renewable energy due to increased demand cleaner power generation sources are likely to strengthen the increasing demand for rooftop solar PVs.

Proliferating demand for rooftop solar photovoltaic across end-use sectors owing to significant price difference between retail electricity and solar-generated electricity is bound to provide a major boost to the market growth. In addition, rooftop solar PV modules have low maintenance cost and require no additional land space for installation as they can be set up on any type of roof.

Growing advancements in solar PV manufacturing technology has resulted in declining costs and higher efficiency of rooftop solar PV modules, thereby driving the product demand across several end-use applications. Moreover, government support in form of tax credits and installation subsidies will further propel the market growth over the forecast period.

Market players are emphasizing on developing innovative design technology due to growing need for decarbonization of energy sector and reduction of carbon footprint. Manufacturers aim to generate the most immediate payback period by enhancing the overall conversion efficiency of rooftop solar PV modules. The improved efficiency modules are projected to lower the levelized cost of electricity by three to four percent, thereby making solar-generated electricity the most competitive.

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Rooftop Solar PV Market Report Highlights

Thin film rooftop solar PV market dominated the global rooftop solar PV market and accounted for the largest revenue share of 41.32% in 2024, primarily driven by growing investments in renewable energy.
The on-grid rooftop solar PV market dominated the global rooftop solar PV market and accounted for the largest revenue share of 85.1% in 2024, primarily driven by cost savings and net metering, as it allows consumers to feed back the excess electricity produced by the solar panels back to the grid for financial credits and incentives.
The industrial rooftop solar PV market dominated the global rooftop solar PV market and accounted for the largest revenue share of 40.1% in 2024, primarily driven by the reduced cost of solar panel systems, installations, and management, making it efficient for businesses and industries to invest on them.
The Asia Pacific rooftop solar PV market dominated the global market and accounted for the largest revenue share of 31.4% in 2024.