Product Code: ETC13350303 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Solar Photovoltaic Installations Market was valued at USD 75 Billion in 2024 and is expected to reach USD 108.88 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period (2025-2031).
The Global Solar Photovoltaic Installations Market is experiencing significant growth driven by increasing environmental concerns and the transition towards renewable energy sources. The market is witnessing a surge in installations across residential, commercial, and utility-scale projects, supported by declining costs of solar technology and government incentives. Asia-Pacific, particularly China and India, lead the market in solar PV installations, followed by Europe and North America. Technological advancements such as bifacial panels and energy storage solutions are enhancing the efficiency and reliability of solar PV systems, further boosting market growth. The shift towards decentralized energy generation, coupled with the increasing focus on sustainability, is expected to drive continued expansion of the Global Solar Photovoltaic Installations Market in the coming years.
The Global Solar Photovoltaic Installations Market is experiencing significant growth driven by increasing environmental concerns, government incentives, and decreasing costs of solar technology. Key trends include the rise of utility-scale solar projects, the integration of energy storage solutions, and the development of innovative financing models such as solar leasing. Opportunities in the market lie in emerging markets with high solar potential, advancements in solar panel efficiency, and the growing trend towards sustainable energy solutions. The push towards decarbonization and the transition to renewable energy sources are expected to further drive the demand for solar photovoltaic installations globally, making it a key sector for investment and innovation in the coming years.
The Global Solar Photovoltaic Installations Market faces several challenges, including intermittency of solar power generation due to weather conditions, high upfront costs of solar panel installations, lack of standardization in regulations and policies across different regions, and competition from other renewable energy sources. Additionally, grid integration and storage limitations pose challenges for maximizing the efficiency and reliability of solar PV systems. Moreover, supply chain disruptions and material shortages can impact the production and installation of solar panels. Addressing these challenges will require advancements in technology to improve storage capabilities, continued cost reductions to enhance affordability, and coordinated efforts among governments, industry stakeholders, and research institutions to streamline regulations and promote the adoption of solar energy on a wider scale.
The Global Solar Photovoltaic Installations Market is primarily driven by increasing government initiatives and incentives to promote renewable energy sources, growing environmental concerns regarding carbon emissions, and the declining costs of solar technology. Government policies such as feed-in tariffs, tax credits, and renewable energy targets have encouraged the adoption of solar photovoltaic systems, leading to a surge in installations worldwide. Additionally, the rising awareness about the importance of reducing reliance on fossil fuels to combat climate change has propelled the demand for solar energy. The continuous technological advancements in solar PV technology and the decreasing costs of solar panels and components have made solar energy more accessible and cost-effective, further driving the market growth.
Government policies play a crucial role in shaping the Global Solar Photovoltaic (PV) Installations Market. Various countries have enacted policies such as feed-in tariffs, tax incentives, renewable portfolio standards, and net metering to promote the adoption of solar PV systems. For instance, countries like Germany and China have implemented feed-in tariffs to provide financial incentives for solar PV system owners. Furthermore, the United States offers Investment Tax Credits and Production Tax Credits to encourage solar PV deployment. Additionally, some countries have set renewable energy targets that require a certain percentage of electricity to come from solar and other renewable sources. These government policies create a favorable environment for solar PV installations, driving market growth and sustainability.
The Global Solar Photovoltaic Installations Market is poised for significant growth in the coming years, driven by increasing environmental awareness, government incentives, and technological advancements in the solar industry. The push towards renewable energy sources, coupled with the declining costs of solar panels and batteries, will continue to make solar photovoltaic installations more accessible and attractive to both residential and commercial consumers. Emerging markets in Asia and Latin America are expected to play a key role in driving demand, while established markets in Europe and North America will also contribute to the market expansion. Overall, the outlook for the Global Solar Photovoltaic Installations Market is optimistic, with a forecasted increase in installations and capacity worldwide as solar energy continues to establish itself as a mainstream power source.
In the global solar photovoltaic installations market, regional insights show varying trends across different regions. Asia, particularly China and India, leads in solar PV installations due to government support and favorable policies. North America, led by the United States, has seen significant growth driven by falling costs and increasing environmental awareness. Europe has been a mature market for solar PV, with countries like Germany and the UK being early adopters of renewable energy. The Middle East and Africa region is experiencing a growing interest in solar PV installations, driven by abundant sunlight and the need to diversify energy sources. Latin America, with countries like Chile and Brazil leading the way, is also witnessing a rise in solar PV installations driven by supportive regulatory frameworks and declining costs.
Global Solar Photovoltaic Installations 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 Solar Photovoltaic Installations Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Solar Photovoltaic Installations Market Revenues & Volume, 2021 & 2031F |
3.3 Global Solar Photovoltaic Installations Market - Industry Life Cycle |
3.4 Global Solar Photovoltaic Installations Market - Porter's Five Forces |
3.5 Global Solar Photovoltaic Installations Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Solar Photovoltaic Installations Market Revenues & Volume Share, By Installation Type, 2021 & 2031F |
3.7 Global Solar Photovoltaic Installations Market Revenues & Volume Share, By System Type, 2021 & 2031F |
3.8 Global Solar Photovoltaic Installations Market Revenues & Volume Share, By Capacity, 2021 & 2031F |
3.9 Global Solar Photovoltaic Installations Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Global Solar Photovoltaic Installations Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Solar Photovoltaic Installations Market Trends |
6 Global Solar Photovoltaic Installations Market, 2021 - 2031 |
6.1 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Rooftop Solar, 2021 - 2031 |
6.1.3 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Ground Mounted, 2021 - 2031 |
6.1.4 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Floating Solar, 2021 - 2031 |
6.1.5 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Others, 2021 - 2031 |
6.2 Global Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Solar Photovoltaic Installations Market, Revenues & Volume, By On Grid, 2021 - 2031 |
6.2.3 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Off Grid, 2021 - 2031 |
6.2.4 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Hybrid, 2021 - 2031 |
6.2.5 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Others, 2021 - 2031 |
6.3 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Solar Photovoltaic Installations Market, Revenues & Volume, By <10 kW, 2021 - 2031 |
6.3.3 Global Solar Photovoltaic Installations Market, Revenues & Volume, By 10 kW“100 kW, 2021 - 2031 |
6.3.4 Global Solar Photovoltaic Installations Market, Revenues & Volume, By 100 kW“1 MW, 2021 - 2031 |
6.3.5 Global Solar Photovoltaic Installations Market, Revenues & Volume, By >1 MW, 2021 - 2031 |
6.4 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Residential, 2021 - 2031 |
6.4.3 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Commercial, 2021 - 2031 |
6.4.4 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Industrial, 2021 - 2031 |
6.4.5 Global Solar Photovoltaic Installations Market, Revenues & Volume, By Utility Scale, 2021 - 2031 |
7 North America Solar Photovoltaic Installations Market, Overview & Analysis |
7.1 North America Solar Photovoltaic Installations Market Revenues & Volume, 2021 - 2031 |
7.2 North America Solar Photovoltaic Installations Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
7.4 North America Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
7.5 North America Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
7.6 North America Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
8 Latin America (LATAM) Solar Photovoltaic Installations Market, Overview & Analysis |
8.1 Latin America (LATAM) Solar Photovoltaic Installations Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Solar Photovoltaic Installations Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
8.4 Latin America (LATAM) Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
8.5 Latin America (LATAM) Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
8.6 Latin America (LATAM) Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
9 Asia Solar Photovoltaic Installations Market, Overview & Analysis |
9.1 Asia Solar Photovoltaic Installations Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Solar Photovoltaic Installations Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
9.4 Asia Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
9.5 Asia Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
9.6 Asia Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
10 Africa Solar Photovoltaic Installations Market, Overview & Analysis |
10.1 Africa Solar Photovoltaic Installations Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Solar Photovoltaic Installations Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
10.4 Africa Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
10.5 Africa Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
10.6 Africa Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
11 Europe Solar Photovoltaic Installations Market, Overview & Analysis |
11.1 Europe Solar Photovoltaic Installations Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Solar Photovoltaic Installations Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
11.4 Europe Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
11.5 Europe Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
11.6 Europe Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
12 Middle East Solar Photovoltaic Installations Market, Overview & Analysis |
12.1 Middle East Solar Photovoltaic Installations Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Solar Photovoltaic Installations Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Solar Photovoltaic Installations Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Solar Photovoltaic Installations Market, Revenues & Volume, By Installation Type, 2021 - 2031 |
12.4 Middle East Solar Photovoltaic Installations Market, Revenues & Volume, By System Type, 2021 - 2031 |
12.5 Middle East Solar Photovoltaic Installations Market, Revenues & Volume, By Capacity, 2021 - 2031 |
12.6 Middle East Solar Photovoltaic Installations Market, Revenues & Volume, By Application, 2021 - 2031 |
13 Global Solar Photovoltaic Installations Market Key Performance Indicators |
14 Global Solar Photovoltaic Installations Market - Export/Import By Countries Assessment |
15 Global Solar Photovoltaic Installations Market - Opportunity Assessment |
15.1 Global Solar Photovoltaic Installations Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Solar Photovoltaic Installations Market Opportunity Assessment, By Installation Type, 2021 & 2031F |
15.3 Global Solar Photovoltaic Installations Market Opportunity Assessment, By System Type, 2021 & 2031F |
15.4 Global Solar Photovoltaic Installations Market Opportunity Assessment, By Capacity, 2021 & 2031F |
15.5 Global Solar Photovoltaic Installations Market Opportunity Assessment, By Application, 2021 & 2031F |
16 Global Solar Photovoltaic Installations Market - Competitive Landscape |
16.1 Global Solar Photovoltaic Installations Market Revenue Share, By Companies, 2024 |
16.2 Global Solar Photovoltaic Installations Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |