Rooftop Solar PV Module Market Size - By Technology (Thin Film, Crystalline Silicon), By Product (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon, Copper Indium Gallium Di-Selenide), By Connectivity, By End Use, 2025 – 2034

Rooftop Solar PV Module Market Size

The global rooftop solar PV module market was valued at USD 132.1 billion in 2024 and is estimated to grow at a CAGR of 7.9% from 2025 to 2034. It is a solar panel system installed on the roof of a building to convert sunlight into electricity using photovoltaic technology. These modules consist of solar cells made from semiconductor materials, such as silicon, which absorb sunlight and generate electrical current. These modules are designed for residential, commercial, and industrial buildings, enabling them to generate renewable energy for their own use or for sale back to the grid.
 

Growing awareness of climate change and the urgency to cut greenhouse gas emissions will accelerate the shift towards renewable energy sources, driving the business trend. Increasing adoption of more efficient power generation technologies, along with an increasing demand for photovoltaic (PV) solar systems, will further enhance the market dynamics.
 

Rising supportive government investments and incentives for modern energy solutions, along with stringent regulations will propel the product adoption. For instance, the Indonesian government introduced a new regulation by the Ministry of Energy and Mineral Resources (MEMR) to promote rooftop solar development. This regulation offers extended periods for unused credit offset, online integration of information, opportunities for trading carbon credits, and digital-based rooftop PV systems.
 

Rooftop Solar PV Module Market Trends

Rising electricity costs from traditional sources will encourage individuals and businesses to reduce their reliance on grid-based power, driving the product adoption.  Growing awareness of climate change and the need to reduce greenhouse gas emissions driven by the shift toward renewable energy sources will complement the industry growth. Furthermore, rising integration of rooftop solar systems with smart grid technologies with enhanced energy management and efficiency will uplift the product penetration.
 

Rooftop Solar PV Module Market Analysis

Based on product, the amorphous silicon segment is set to reach more than USD 6.3 billion by 2034. These modules, being thinner and lighter than their traditional crystalline silicon counterparts, offer greater flexibility. This broadens their installation possibilities, making them ideal for a diverse array of buildings. Furthermore, these systems decentralize energy solutions but also bolster energy resilience during power outages or natural disasters. The capability to generate electricity on-site becomes vital for sustaining essential power supplies during such crises, driving the industry's growth.
 

Based on technology, the thin film segment is anticipated to witness more than 11% CAGR through 2034. Rising demand for lighter and more flexible technology compared to conventional solar panels, offering easy handling and installation on rooftops will propel the technology adoption. This flexibility also allows for more diverse installation options, such as curved or irregularly shaped roofs, which traditional panels may not accommodate. Moreover, recent advancements in thin film technology designed to improve their energy conversion efficiency coupled with growing innovations in materials will complement the business outlook.
 

The U.S. rooftop solar PV module market is likely to exceed USD 21.5 billion by 2034. Rising government incentives to promote rooftop solar PV adoption including the Investment Tax Credit (ITC), which offers a 30% tax credit for solar system installations will create lucrative opportunities for the industry growth. Increasing concerns over energy security, especially amid to supply chain disruptions and natural disasters, will encourage consumers to adopt rooftop solar to ensure energy independence and resilience.
 

In Europe, ongoing research and development efforts aimed at increasing energy output, combined with the growing need to reduce carbon emissions, will drive the product. For instance, in March 2023, the European Parliament mandated that all new buildings must have solar rooftop systems installed by 2028, and that residential buildings must be renovated to include them by 2032. Furthermore, rising push toward decarbonization will make rooftop solar an essential part of meeting these goals thereby improving the market growth.

Rooftop Solar PV Module Market share

Eminent players are forming strategic alliances with local distributors, contractors, and installation companies to expand their market reach. Many players are also shifting towards customer-centric approaches, such as offering financing options, maintenance services, and energy-as-a-service models. This helps reduce the upfront costs for customers and ensure long-term engagement with the brand. Furthermore, to tap into new markets, companies are focusing on regional expansion by entering emerging markets with favorable policies and incentives for solar adoption.
 

Rooftop Solar PV Module Market Companies

Eminent players operating in the rooftop solar PV module industry are:

• Canadian Solar
• EMMVEE SOLAR
• Hanwha Group
• Indosolar
• JA Solar Technology
• JinkoSolar
• LONGi
• Motech Industries
• REC Solar Holdings
• RENESOLA
• Risen Energy
• Shunfeng International Clean Energy
• SunPower Corporation
• Trina Solar
• Vikram Solar
• Yingli Solar
   

Rooftop Solar PV Module Industry News

• In September 2022, Vikram Solar received an order to supply 350 MW of solar modules for a project in Arizona, U.S. The company intends to highlight its high-efficiency products and advanced technologies, designed to meet the needs of various segments including industrial, commercial, residential rooftop, and utility-scale markets. This move enhances Vikram Solar’s presence in the U.S. and supports the ongoing clean energy transition in the industry.
   
• In May 2022, Trina Solar introduced its second-generation Vertex S+ rooftop solar module in Europe. The new module features 210mm n-type Vertex cells and a dual-glass design, offering enhanced compatibility and simplified installation. Backed by a 25-year product warranty and a 30-year performance guarantee, the Vertex S+ solidifies Trina Solar's position as a leader in the residential and commercial & industrial (C&I) rooftop solar markets.
   

This rooftop solar PV module market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Billion & MW” from 2021 to 2034, for the following segments:

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Market, By Technology

• Thin Film
• Crystalline Silicon  

Market, By Product

• Monocrystalline
• Polycrystalline
• Cadmium Telluride
• Amorphous Silicon
• Copper Indium Gallium Di-Selenide

Market, By Connectivity

• On-Grid
• Off-Grid

Market, By End Use

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • UK
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru