Product Code: ETC13324335 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Shubham Padhi | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Grid Connected PV Systems Market was valued at USD 235 Billion in 2024 and is expected to reach USD 342.07 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period (2025-2031).
The global grid-connected PV systems market is experiencing significant growth driven by increasing environmental concerns, government incentives, and decreasing solar panel costs. These systems allow for the direct conversion of sunlight into electricity, enabling consumers to generate their electricity and potentially sell excess power back to the grid. Key market trends include a shift towards higher efficiency and power output, technological advancements like energy storage integration, and a growing focus on sustainability. The market is highly competitive with key players such as JinkoSolar, Trina Solar, and Canadian Solar dominating the industry. Regions like Asia-Pacific, Europe, and North America are leading in grid-connected PV installations, with supportive government policies and favorable regulatory frameworks contributing to market expansion. Future growth is expected as solar energy becomes more cost-effective and widespread adoption increases.
The Global Grid Connected PV Systems Market is experiencing significant growth driven by increasing focus on renewable energy sources and government incentives for solar power installations. Key trends include the rise of utility-scale solar projects, advancements in solar technology leading to higher efficiency and lower costs, and the growing demand for grid-connected systems in commercial and residential sectors. Opportunities in the market lie in emerging markets with untapped solar potential, innovative financing models such as solar leasing, and the integration of energy storage solutions with PV systems for enhanced grid stability. Additionally, the shift towards smart grids and digitalization of energy systems offer prospects for grid-connected PV systems to play a crucial role in the future energy landscape.
One of the major challenges faced in the Global Grid Connected PV Systems Market is the variability of solar power generation due to weather conditions. This intermittency can lead to fluctuations in power output, making it difficult to ensure a consistent and reliable energy supply. Additionally, issues related to grid integration and stability arise as more solar power is added to the grid, requiring sophisticated technologies and infrastructure upgrades to manage the increased complexity. Furthermore, regulatory and policy uncertainties in different regions can hinder the growth of grid-connected PV systems by creating investment risks and barriers to market entry. Addressing these challenges will be crucial for the successful deployment and expansion of grid-connected PV systems on a global scale.
The Global Grid Connected PV Systems Market is primarily driven by increasing environmental concerns and the shift towards renewable energy sources. Government initiatives and regulations promoting the adoption of solar energy, along with advancements in technology leading to reduced costs and improved efficiency of PV systems, are also key drivers. Growing awareness about the benefits of solar power, such as lower carbon emissions and long-term cost savings, is fueling the demand for grid-connected PV systems. Additionally, the rising demand for electricity coupled with the need for energy security and independence are driving the market growth. The push towards achieving energy sustainability and reducing dependence on fossil fuels are further propelling the expansion of the Grid Connected PV Systems Market globally.
Government policies related to the Global Grid Connected PV Systems Market vary by country and region. Generally, policies include financial incentives such as feed-in tariffs, net metering, tax credits, and subsidies to promote the adoption of solar PV systems. Some governments have set renewable energy targets and mandates for utilities to procure a certain percentage of their electricity from renewable sources, driving the demand for grid-connected PV systems. Additionally, regulatory frameworks ensure fair market access for solar energy producers and facilitate grid integration. In recent years, there has been a trend towards phasing out fossil fuel subsidies and promoting clean energy alternatives, further supporting the growth of grid-connected PV systems worldwide.
The Global Grid Connected PV Systems Market is poised for significant growth in the coming years due to increasing environmental concerns, government incentives, and technological advancements in solar energy. The market is expected to expand rapidly as countries around the world strive to reduce carbon emissions and transition towards renewable energy sources. The decreasing costs of solar panels and batteries, coupled with improvements in energy storage solutions, will drive the adoption of grid-connected PV systems. Additionally, the growing awareness of the benefits of solar energy and the push towards sustainable development will further boost market growth. Overall, the Global Grid Connected PV Systems Market is projected to experience substantial expansion and opportunities for investors, manufacturers, and suppliers in the renewable energy sector.
The global grid-connected PV systems market is witnessing significant growth across all regions, with Asia leading the market due to government initiatives, favorable policies, and increasing investments in solar energy projects. North America follows closely behind, driven by the growing awareness of renewable energy sources and the adoption of clean energy technologies. In Europe, the market is experiencing steady growth, supported by stringent regulations on carbon emissions and the push towards achieving renewable energy targets. The Middle East and Africa region is also showing promising growth prospects, fueled by the abundance of sunlight and the rising demand for sustainable energy solutions. In Latin America, countries like Brazil and Mexico are emerging as key players in the grid-connected PV systems market, driven by government incentives and the need to diversify their energy mix.
Global Grid Connected PV Systems Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Grid Connected PV Systems Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Grid Connected PV Systems Market Revenues & Volume, 2021 & 2031F |
3.3 Global Grid Connected PV Systems Market - Industry Life Cycle |
3.4 Global Grid Connected PV Systems Market - Porter's Five Forces |
3.5 Global Grid Connected PV Systems Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Grid Connected PV Systems Market Revenues & Volume Share, By System Type, 2021 & 2031F |
3.7 Global Grid Connected PV Systems Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.8 Global Grid Connected PV Systems Market Revenues & Volume Share, By Power Output, 2021 & 2031F |
3.9 Global Grid Connected PV Systems Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.10 Global Grid Connected PV Systems Market Revenues & Volume Share, By Industry, 2021 & 2031F |
4 Global Grid Connected PV Systems Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Grid Connected PV Systems Market Trends |
6 Global Grid Connected PV Systems Market, 2021 - 2031 |
6.1 Global Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Grid Connected PV Systems Market, Revenues & Volume, By String Inverter System, 2021 - 2031 |
6.1.3 Global Grid Connected PV Systems Market, Revenues & Volume, By Central Inverter System, 2021 - 2031 |
6.1.4 Global Grid Connected PV Systems Market, Revenues & Volume, By Micro-Inverter System, 2021 - 2031 |
6.2 Global Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Grid Connected PV Systems Market, Revenues & Volume, By Solar Panels, 2021 - 2031 |
6.2.3 Global Grid Connected PV Systems Market, Revenues & Volume, By Inverters, 2021 - 2031 |
6.2.4 Global Grid Connected PV Systems Market, Revenues & Volume, By Battery Storage, 2021 - 2031 |
6.3 Global Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Grid Connected PV Systems Market, Revenues & Volume, By Below 10 kW, 2021 - 2031 |
6.3.3 Global Grid Connected PV Systems Market, Revenues & Volume, By 10-100 kW, 2021 - 2031 |
6.3.4 Global Grid Connected PV Systems Market, Revenues & Volume, By Above 100 kW, 2021 - 2031 |
6.4 Global Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Grid Connected PV Systems Market, Revenues & Volume, By Residential, 2021 - 2031 |
6.4.3 Global Grid Connected PV Systems Market, Revenues & Volume, By Commercial, 2021 - 2031 |
6.4.4 Global Grid Connected PV Systems Market, Revenues & Volume, By Utility-Scale, 2021 - 2031 |
6.5 Global Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Grid Connected PV Systems Market, Revenues & Volume, By Utility, 2021 - 2031 |
6.5.3 Global Grid Connected PV Systems Market, Revenues & Volume, By Industrial, 2021 - 2031 |
6.5.4 Global Grid Connected PV Systems Market, Revenues & Volume, By BFSI, 2021 - 2031 |
7 North America Grid Connected PV Systems Market, Overview & Analysis |
7.1 North America Grid Connected PV Systems Market Revenues & Volume, 2021 - 2031 |
7.2 North America Grid Connected PV Systems Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
7.4 North America Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
7.5 North America Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
7.6 North America Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
7.7 North America Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
8 Latin America (LATAM) Grid Connected PV Systems Market, Overview & Analysis |
8.1 Latin America (LATAM) Grid Connected PV Systems Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Grid Connected PV Systems Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
8.4 Latin America (LATAM) Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
8.5 Latin America (LATAM) Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
8.6 Latin America (LATAM) Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
8.7 Latin America (LATAM) Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
9 Asia Grid Connected PV Systems Market, Overview & Analysis |
9.1 Asia Grid Connected PV Systems Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Grid Connected PV Systems Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
9.4 Asia Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
9.5 Asia Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
9.6 Asia Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
9.7 Asia Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
10 Africa Grid Connected PV Systems Market, Overview & Analysis |
10.1 Africa Grid Connected PV Systems Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Grid Connected PV Systems Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
10.4 Africa Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
10.5 Africa Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
10.6 Africa Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
10.7 Africa Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
11 Europe Grid Connected PV Systems Market, Overview & Analysis |
11.1 Europe Grid Connected PV Systems Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Grid Connected PV Systems Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
11.4 Europe Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
11.5 Europe Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
11.6 Europe Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
11.7 Europe Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
12 Middle East Grid Connected PV Systems Market, Overview & Analysis |
12.1 Middle East Grid Connected PV Systems Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Grid Connected PV Systems Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Grid Connected PV Systems Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Grid Connected PV Systems Market, Revenues & Volume, By System Type, 2021 - 2031 |
12.4 Middle East Grid Connected PV Systems Market, Revenues & Volume, By Component, 2021 - 2031 |
12.5 Middle East Grid Connected PV Systems Market, Revenues & Volume, By Power Output, 2021 - 2031 |
12.6 Middle East Grid Connected PV Systems Market, Revenues & Volume, By Application, 2021 - 2031 |
12.7 Middle East Grid Connected PV Systems Market, Revenues & Volume, By Industry, 2021 - 2031 |
13 Global Grid Connected PV Systems Market Key Performance Indicators |
14 Global Grid Connected PV Systems Market - Export/Import By Countries Assessment |
15 Global Grid Connected PV Systems Market - Opportunity Assessment |
15.1 Global Grid Connected PV Systems Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Grid Connected PV Systems Market Opportunity Assessment, By System Type, 2021 & 2031F |
15.3 Global Grid Connected PV Systems Market Opportunity Assessment, By Component, 2021 & 2031F |
15.4 Global Grid Connected PV Systems Market Opportunity Assessment, By Power Output, 2021 & 2031F |
15.5 Global Grid Connected PV Systems Market Opportunity Assessment, By Application, 2021 & 2031F |
15.6 Global Grid Connected PV Systems Market Opportunity Assessment, By Industry, 2021 & 2031F |
16 Global Grid Connected PV Systems Market - Competitive Landscape |
16.1 Global Grid Connected PV Systems Market Revenue Share, By Companies, 2024 |
16.2 Global Grid Connected PV Systems Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |