Global Home Solar System Market Growth 2025-2031

The global Home Solar System market size is predicted to grow from US$ 9345 million in 2025 to US$ 18580 million in 2031; it is expected to grow at a CAGR of 12.1% from 2025 to 2031.

Solar Panels: Solar panels, also called photovoltaic (PV) panels, are the primary components of the system. They are made up of solar cells that capture sunlight and convert it into direct current (DC) electricity.

Inverter: The DC electricity generated by the solar panels is then sent to an inverter, which converts it into alternating current (AC) electricity. AC electricity is the type of electricity used in most households.

Racking and Mounting: Solar panels are mounted on racking and mounting structures that secure them to the roof or the ground. Proper installation and orientation maximize sunlight exposure.

Solar Monitoring System: Many home solar systems are equipped with monitoring systems that allow homeowners to track their energy production and consumption in real time.

Connection to the Grid: Most residential solar systems are grid-tied, which means they are connected to the local utility grid. This allows excess energy to be fed back into the grid in exchange for credits or compensation.

Net Meter: A net meter is often installed, which measures the electricity generated by the solar system and the electricity consumed from the grid. This helps determine whether a household is producing more energy than it uses or vice versa.

Declining Costs: The cost of solar panels and associated components had been decreasing, making solar systems more affordable for homeowners. This trend was expected to continue, making solar energy a cost-effective option for more households.

Increased Efficiency: Solar panel efficiency was improving, allowing homeowners to generate more electricity with fewer panels. High-efficiency panels were in demand, as they maximize energy production in limited space.

Energy Storage: Homeowners were increasingly looking into energy storage solutions, such as batteries, to store excess solar energy for use during the night or during power outages. Energy storage systems were becoming more accessible and affordable.

Grid Integration: More residential solar systems were being connected to the grid, allowing homeowners to benefit from net metering or feed-in tariffs. Grid-tied systems make it easier to sell excess energy back to the grid or draw power when needed.

Government Incentives: Government incentives, such as tax credits and rebates, continued to play a significant role in promoting residential solar adoption. The availability and extent of these incentives varied by location.

LP Information, Inc. (LPI) ' newest research report, the “Home Solar System Industry Forecast” looks at past sales and reviews total world Home Solar System sales in 2024, providing a comprehensive analysis by region and market sector of projected Home Solar System sales for 2025 through 2031. With Home Solar System sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Home Solar System industry.

This Insight Report provides a comprehensive analysis of the global Home Solar System landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Home Solar System portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Home Solar System market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Home Solar System and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Home Solar System.

This report presents a comprehensive overview, market shares, and growth opportunities of Home Solar System market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Off-Grid Solar System
Hybrid Solar System

Segmentation by Application:
Heating
Illumination
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Sharp
JA Solar
Yingli
Trina Solar
Canadian Solar
Kyocera Solar
Solar Frontier
SFCE
ReneSola
Hanwha Solar
REC Group
First Solar
SunPower
Jinko Solar
Jntech

Key Questions Addressed in this Report

What is the 10-year outlook for the global Home Solar System market?

What factors are driving Home Solar System market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Home Solar System market opportunities vary by end market size?

How does Home Solar System break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.