Solar Rooftop Market is expected to reach $4.14 billion by 2022, Says Crystal Market Research
In 2012, the Solar Rooftop Market was valued around USD 1.48 billion and is anticipated to reach approximately USD 4.14 billion by 2022, while registering at a significant compound annual growth rate (CAGR) of 9.70% during the forecast period. A solar rooftop changes the light energy from the sun into electrical energy with the assistance of solar panels fixed on the rooftop on any building. These housetop solar panels may be off-grid with the storage of battery or associated with the grid. They are utilized as a part of many industrial, commercial and residential purposes alongside systems appraisals of up to 10 kW, 11kW-100MW and more than 100 MW, individually. The extensive requirement for energy even with reducing fossil fuels has brought about use of solar rooftop panels in several portions. Aside from providing energy productive resolutions, these solar panels are additionally simple and easy to use and to establish. In the recent years, the requirement for solar rooftops has extensively expanded and is anticipated to develop with a striking benefit. Solar rooftops especially in the residential application are impelling this market further. In the past ten years, there has been a relentless defeat in the cost of significant components, for example, poly-silicone; silver that is utilized as a part in the procedure of manufacturing of solar cells. Due to higher power creating limit, rooftop solar panels are turning into the most preferred choice for substitute energy, outperforming other green energy sources. Due to benefits as such, this industry is observing significant development. Governments from different locales are putting forth tax sops to deploy solar panels to generate warm, this factor is advancing the further development of this market.