Residential Solar EPC Market - By Classification (Rooftop, Ground Mounted), By Capacity (Up to 1 kW, 1 to 10 kW, 10 to 50 kW) & Forecast, 2024 – 2032

Residential Solar EPC Market - By Classification (Rooftop, Ground Mounted), By Capacity (Up to 1 kW, 1 to 10 kW, 10 to 50 kW) & Forecast, 2024 – 2032

Global Residential Solar EPC Market will exhibit 4.6% CAGR over 2024-2032, driven by rising electricity costs. According to the U.S. Energy Information Administration, residential electricity bills in the U.S. increased by 2% each month in 2023 compared to 2022. In nominal terms, the average monthly electricity bill for residential customers in the U.S. was $138 in 2023, up from $135 in 2022.

Increasing electricity costs drive homeowners to seek alternative energy solutions, favoring market growth. As utility bills rise, solar energy becomes a more attractive and cost-effective option for reducing monthly expenses. Government incentives and advances in solar technology further enhance the financial benefits of residential solar installations. This growing financial appeal, combined with environmental consciousness and the desire for energy independence, significantly boosts the demand for residential solar EPC services.

The overall residential solar EPC market is segregated based on classification, capacity, and region.

The market size from the ground-mounted segment will expand substantially over 2024-2032. The demand for ground-mounted residential solar EPC is propelled by the ability to optimize solar panel placement for maximum sunlight exposure, leading to higher energy efficiency. Homeowners with limited roof space or shaded areas find ground-mounted systems a practical alternative. Additionally, these systems are easier to maintain and expand, offering flexibility for future energy needs. The increasing focus on renewable energy and government incentives further drive the adoption of ground-mounted residential solar installations, enhancing their appeal and market growth.

The 10-50 kW segment will amass appreciable gains through 2032, driven by the suitability of 10-50 kW residential solar EPC systems for medium-sized homes seeking substantial energy savings. These systems offer a balance between cost and energy production, providing significant reductions in electricity bills while fitting within typical residential space constraints. The increasing adoption of solar energy, coupled with favorable government incentives and financing options, makes these systems an attractive choice for homeowners aiming for a more sustainable and economical energy solution.

North America residential solar EPC market will register a modest CAGR between 2024 and 2032 due to rising electricity costs, which drive homeowners to seek cost-effective energy alternatives. Government incentives and subsidies make solar installations more affordable and attractive. Advances in solar technology and decreasing installation costs further boost market growth. Additionally, increasing environmental awareness and the desire for energy independence contribute to the growing adoption of residential solar systems. Favorable financing options and robust support from the solar industry also support the market's expansion.