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North American Rooftop Solar Panel Market dynamics, trends, opportunities, drivers, challenges and forecast 2025 made possible by top research firm

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North American Rooftop Solar Panel Market Size, Share & Trends Analysis Report by Type (Monocrystalline Solar Panel, Polycrystalline Solar Panel, Thin-Film Solar Panel, and Other Solar Panels) and by End-User (Household Sector and Corporate Sector) and Forecast, 2019-2025. The North American rooftop solar panel market is estimated to grow significantly at a CAGR of around 7.3% during the forecast period.

The North American rooftop solar panel market is estimated to grow significantly at a CAGR of around 7.3% during the forecast period. The growth of the regional market is backed by the rise in installations of rooftop solar panels within the regional countries, coupled with supportive government schemes.

In the US there are numerous programs that are promoting the growth of the market. Solar power production incentive act 1990 is an amendment to the PURPA of 1978 and the Federal Power Act.

The main purpose is to remove the size limitations placed on renewable energy facilities, such as solar and wind, in order to receive PURPA benefits. This will encourage the development of renewable energy production, thereby encouraging the installation of rooftop solar panels in the near future.

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The Companies which are contributing to the growth of the North American rooftop solar panel market include First Solar, Inc., SunPower Corp., Canadian Solar, Inc., Kyocera Corp., and Wuxi Suntech Power Co., Ltd.

The US is expected to contribute significantly due to the rise in the adoption of solar panel technology so as to reduce electricity costs in Hospitals, industries, malls among various others.

There are numerous projects which are being undertaken so as to promote the use of solar panels in the country. For instance, Biocomplexity Institute collaborated with the Sandia National Laboratory, National Rural Electric Cooperative Association (NRECA), and Arizona State University in 2016 for the development of solar panel technology which was funded by the government under the US Department of Energy’s Suns hot Initiative.

Moreover, Canada has its own government regulations that are responsible for the clean and eco-friendly environment. The Canadian government has various regulations and policies that are driving the growth of the solar panel market.

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The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in 2018, Canadian Solar, Inc.

acquired several domestic projects from Clean Guadalquivir K.K, Univergy 23 G.K, and Univergy 10 G.K. The acquisition of domestic projects will contribute in increase position of the company, hence will contribute in the overall rooftop solar panel market.

North American Rooftop Solar Panel Market Segmentation

North American Rooftop Solar Panel Market by Type

  • Monocrystalline Solar Panel
  • Polycrystalline Solar Panel
  • Thin-Film Crystalline Solar Panel
  • Amorphous Silicon (a-Si)
  • Cadmium Telluride (CdTe)
  • Copper Indium Gallium Selenide (CIS/CIGS)
  • Other Solar Panels

North American Rooftop Solar Panel Market by End-User

  • Household Sector
  • Corporate Sector

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Orion Market Research Pvt. Ltd.Orion Market Research Pvt. Ltd.
Category: Market Research Publishers and RetailersCompany about: Orion Market Research (OMR) is a market research company that endeavors to provide an exclusive blend of qualitative and quantitative market research reports to global clients. The company provides syndicate, customized market research report for over 20 business domains to customers across the globe. These reports provide valuable market insights to global clients in understanding the market trends and taking crucial business decisions. The company is serving global Fortune 500 companies, ...
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