The global rooftop solar PV market is projected to progress at a healthy CAGR of 11.0% during the forecast period from 2015 to 2023, according to Transparency Market Research (TMR). In 2014, the global rooftop solar PV market was estimated at US$1.7 bn and by 2023, the market is expected to be worth US$4.5 bn.
Regionally, the global rooftop solar PV market is divided into Asia Pacific, Europe, North America, and Rest of the World. Several government and non-government firms in the global rooftop solar PV market are increasingly launching rent-a-roof schemes. Let us look at this trend in detail:
What is the Rent-a-Roof Scheme?
Regionally, the global rooftop solar PV market is divided into Asia Pacific, Europe, North America, and Rest of the World. Several government and non-government firms in the global rooftop solar PV market are increasingly launching rent-a-roof schemes. Let us look at this trend in detail:
What is the Rent-a-Roof Scheme?
In the rent-a-roof scheme, a company offers to fit and maintain solar panels on a homeowner’s roof for free. Power companies in the global rooftop solar PV market have an urgent need for roof space and are increasingly offering such schemes. This trend started with deals between energy companies and several large companies and local municipalities that wanted to install solar panels on large premises in return for a fee.
Which Companies are Providing such Schemes?
Several companies around the world have launched such schemes. Furthermore, these companies in the global rooftop solar PV market are targeting the residential segment. According to TMR, the global rooftop solar PV market is led by the residential segment, which held a share of 61.2% in 2014. Some of the companies providing these schemes in the global rooftop solar PV market are A Shade Greener, HomeSun, Prologis, Duke Energy, and Southern California Edison.
How will this Scheme Impact the Consumer?
Many homeowners are interested in such schemes because they get an income from renting out their roofs to companies that manage the installation and energy generation from rooftop solar PV panels. However, there are certain rent-a-roof schemes in the market in which the installation companies and not the homeowner earn money. In such schemes, homeowners can save money on their electricity bill. Nevertheless, when compared to buying the panels, homeowners reap the rewards of free energy and the tariff payments.
How are Emerging Markets Reacting to this Trend?
At present, the rent-a-roof scheme is more prominent in the developed markets of North America and Europe. However, many emerging markets in the global rooftop solar PV market are catching up on this trend. For example, in India, solar power project developers are now expanding the rent-a-roof concept to sell electricity to large commercial and industrial consumers.
What is the Future of this Trend?
Competition in the global solar PV market is fierce. Companies are continuously trying to outdo each other by launching more affordable and efficient products. In addition to this, cost is also another factor companies in the global rooftop solar PV market are competing on. With the declining cost of installation of PV, the profitability from rent-a-scheme projects is projected to increase.
Browse Industry Research Press Release: http://www.transparencymarketresearch.com/rooftop-solar-pv-market.html
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