Global Residential Solar PV Growth Opportunities

Global Residential Solar PV Growth Opportunities

The residential solar PV segment is witnessing a period of fast growth, driven by a combination of an increasingly favorable regulatory climate, higher electricity prices, and concerns over climate change. The restraints that have held the market back, primarily delays in approvals, have grown weaker, as governments gradually tackle these issues. The uptake of battery storage systems will be pivotal to PV market growth in the future, as households with battery storage solutions can significantly increase their self-consumption of electricity and further mitigate higher
energy costs.

This research service highlights the main drivers and restraints and their relative strengths. Profiles of key countries (a relatively small number
of country markets still account for a significant percentage of the total market) offer a clear picture of the status, the growth accelerators and challenges, and the market potential. In addition, countries are ranked in terms of market attractiveness, based on criteria, such as policy support, incentives, and accessibility. Growth opportunities for active market participants and new entrants are also identified.