Rooftopsolar PV offers an efficient, emission-free renewable source of electricitywhich can be used off-grid as well as on-grid. Rooftop solar PV offers aneffective and efficient method for reducing carbon footprint and generatingelectricity from solar radiation. The market for rooftop solar PV has beenrapidly increasing with the support of government subsidies and tax credits.The rooftop solar PVmarket haveattracted large number of equity investments and funding. Currently, there aretwo major silicon technologies available: monocrystalline and polycrystalline.Rooftop solar PV systems are undergoing a surge in popularity due to theirflexible nature and availability through leasing schemes. Rooftop solarelectricity has been able to achieve grid parity in most of the countries. Theoverall payback time for the rooftop solar PV systems have been reducing,further boosting the market. The rooftop solar market is registering hugeinvestments and funding from the equity and public investors.
TheEnergy Payback Time (EPBT) for 2 kWp rooftop solar systems is around two tothree years, thus making these systems an economically viable and efficientalternative. Distributed PVs (DPVs) with a capacity of less than 100 kW arepreferred for rooftop solar systems. However, as the difficulties with FITpersist for DPV, solar leasing has gained popularity and is expected to boostthe rooftop solar market. Rooftop solar continues to depend on differentincentive mechanisms that drive the demand such as technology-specificrenewable portfolio standards (RPS) and tenders, tax credits, traditional feed-intariffs or Power Purchase Agreements (PPAs). Rooftop solar systems are moresuitable for self-consumption. Transmission of solar electricity to other sitesis less efficient for rooftop solar due to lack of smart grid infrastructure.Electricity trading is done for a limited amount of electricity due to theabsence of infrastructure. Although net metering has been implemented in almostall the major rooftop solar markets. Net metering has attracted negativeattention from other utilities, including fossil fuel utilities. However, Shareof renewable energy in the global energy mix is rising at a substantial pace.Solar and wind renewable capacities experienced maximum growth in 2015. TheParis Agreement enforces countries to strive toward keeping the rise of globaltemperature in the present century below 2°C. According to the IEA, a minimumof 75 GW of solar capacity was installed worldwide in 2016, which was a rise ofabout 48% from that in 2015. Decrease in production costs and advancements intechnology of solar panels have the potential to reshape the rooftop solar PVindustry. Rooftop solar is widely used in commercial and industrial buildingsas it provides benefits such as economical cost, less complexity, avoiding ofcost of land, etc.
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Basedon the application, the market has been segmented into on-grid and off-grid.The off-grid rooftop solar PV segment held the major share of the market in2016. Rooftop solar PV systems are available through financial leasing andthird-party model which has led to an increase in their demand in off-gridapplications.
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Interms of geography, Europe was the largest market for rooftop solar PV,accounting for more than 70% share in 2016. The Germany leads the rooftop solarPV market in Europe, with the government promoting rooftop solar PV systems byoffering incentives and collaborations. Asia-Pacific follows Europe with Chinaas a leading country, with the highest number of rooftop solar installations inthe region. Asia Pacific also houses headquarters of several large rooftopsolar PV companies. North America was the third-largest market for rooftopsolar PV, in terms of market share, in 2016. US is the leading countries withmajor rooftop solar PV projects in North America. The market in Latin Americais likely to grow at a significant rate with anticipated increase in commercialprojects across South Africa, Chile, and Brazil in the near future.
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Keyplayers in the Rooftop Solar PV market include Sharp Corporation, Trina Solar,Pristine Sun LLC, Solimpeks Corporation, Kyocera Corporation, JA Solar Co.Ltd., Yingli Solar, Vikram Solar, Canadian Solar Limited, RelyOn Solar Pvt Ltd.and Sunshot Solar Co. Ltd. In order to bolster their position, companies arefocusing on product development, enhance outreach and expand client pool bymeans of strategic mergers & acquisition. In 2016, Sharp Corporation made aJV with Shigemitsu Shoji Co. Ltd. to work on first large solar power plant inMongolia and in the same year they have signed an agreement with Big CSupercenter, Thailand largest hypermarket retailer, to construct rooftop solarsystem.
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