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North America Solar PV Market Size

  • Report ID: GMI8845
  • Published Date: Apr 2024
  • Report Format: PDF

North America Solar PV Market Size

North America Solar PV Market was valued at USD 29.3 billion in 2023 and is anticipated to grow at a CAGR of 6.2% from 2024 to 2032.


Increasing efforts by corporations, utilities, and consumers towards sustainability and carbon reduction goals along with surge in solar PV installations will drive the market outlook. Additionally, the PV systems offer a sustainable energy solution that mitigates the environmental impact, and supports to combat climate change, thereby aligning with the sustainability objectives of various stakeholders.


Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America solar PV was reached USD 29.3 billion in 2023 and is anticipated to witness 6.2% CAGR from 2024 to 2032, due to higher usage to power various electrical devices or fed into the grid for broader distribution.

North America solar PV market from the on grid connectivity segment is projected to surpass USD 46 billion by 2032, on the account of growing adoption of improved, scalable, and cost-effective units for the development of large scale projects.

North America ground mounted solar PV market is estimated to grow at over 5.5% CAGR up to 2032, owing to shifting consumer inclination towards cost effective clean electricity generation combined with increasing R&D efforts to drop the costs for PV systems.

U.S. solar PV industry size to exceed USD 68.5 billion by 2032, led by the surging demand for commercially available, dependable & efficient solutions along with growing installation of rooftop solar units across establishments.

North America Solar PV Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 250
  • Countries covered: 3
  • Pages: 200
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