Japan JP: Residential Electricity Price: USD per kWh data was reported at 0.330 USD/kWh in 2022. This records an increase from the previous number of 0.260 USD/kWh for 2021. Japan JP: Residential Electricity Price: USD per kWh data is updated yearly, averaging 0.220 USD/kWh from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of 0.330 USD/kWh in 2022 and a record low of 0.190 USD/kWh in 2002. Japan JP: Residential Electricity Price: USD per kWh data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.GGI: Environmental: Environmental Policy, Taxes and Transfers: OECD Member: Annual.

In the fiscal year 2022, the electricity costs for the industry in Japan amounted to approximately ***** Japanese yen per kilowatt hour. Figures peaked in fiscal 2014, reaching ***** Japanese yen per kilowatt hour. In comparison, electricity costs for homes in Japan remained higher throughout the past decade.

View monthly updates and historical trends for Japan Consumer Price Index: Energy. Source: Japan Statistics Bureau. Track economic data with YCharts analy…

In July 2023, the average retail price of high voltage electricity in Japan that was supplied by incumbent utilities amounted to **** Japanese yen per kilowatt hour, while the average retail price of new entrants amounted to **** Japanese yen per kilowatt hour. Figures for both utilities indicated an upward trend in recent months.

Time series data for the statistic Getting electricity: Price of electricity (US cents per kWh) (DB16-20 methodology) and country Japan. Indicator Definition:The price of electricity is measured in U.S. cents per kWh. A monthly electricity consumption is assumed, for which a bill is then computed for a warehouse based in the largest business city of the economy for the month of March. The bill is then expressed back as a unit of kWh. The index is computed based on the methodology in the DB16-20 studies.

Stock Price Time Series for Tohoku Electric Power Co Inc. Tohoku Electric Power Company, Incorporated operates as an energy service in Japan and internationally. The company operates through two segments: Power generation and sales business, and Power transmission and distribution business. It generates and supplies hydroelectric, thermal, nuclear, internal combustion power, and renewable electricity. The company is also involved in the electrical, telecommunications, civil engineering, architectural, and air conditioning construction works; design and manufacture of electricity supply facilities; and business related to research, survey, and analysis concerning environmental preservation. Tohoku Electric Power Company, Incorporated was incorporated in 1951 and is headquartered in Sendai, Japan.

In the third quarter of 2025, Bermuda had the highest household electricity prices worldwide, followed by Ireland, Italy, and Germany. At the time, Irish households were charged around 0.44 U.S. dollars per kilowatt-hour, while in Italy, the price stood at 0.42 U.S. dollars per kilowatt-hour. By comparison, in Russia, residents paid almost 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations.

Price-To-Book-Ratio Time Series for Electric Power Development Ltd. Electric Power Development Co., Ltd. operates as electric utility company in Japan. It develops and operates 61 hydroelectric power plants with total owned capacity of 8,577 MW; wind power with total owned capacity of 477 MW; geothermal power with total owned capacity of 38 MW; thermal power with total owned capacity of 8,810 MW; solar; biomass; and nuclear business. The company also offers welfare facility management; building maintenance services; administrative and labor services; computer software development, etc. In addition, it engages in the construction, engineering, design, consulting, and maintenance inspections of hydropower stations; transmission lines and substations; real estate indemnity; land survey; civil engineering work; general architecture; project management, etc. Further, the company offers unloading and transportation of coal for thermal power stations; sales of fly ash; marine transportation of coal for power generation; research and planning for environmental conservation; construction and maintenance of electronic and telecommunication facilities, etc. Additionally, it offers construction consulting services; design and supervision of power generation facilities and general architecture; geological and other surveys; development of facilities for removal of air and water pollutants; production and sales of fertilizers originated coal ash, etc. The company was incorporated in 1952 and is headquartered in Tokyo, Japan.

View monthly updates and historical trends for Japan Domestic Corporate Goods Price Index: Electric Power, Gas, and Water. Source: Bank of Japan. Track ec…

Price-To-Sales-Ratio Time Series for Nippon Densetsu Kogyo. Nippon Densetsu Kogyo Co., Ltd. engages in contracting electrical equipment construction work in Japan. The company offers railway electronics construction, including electric train line construction, including overhead line construction, which provides electricity to trains; power generation and substation construction, which is the foundation of the power network for railway companies; power transmission line construction for transmitting electricity from power plants to substations; electric light power construction, for lighting facilities in station buildings, etc.; and railway signal construction. It also offers general electronics construction departments, such as installation works on electrical equipment in a broad range of buildings, including government buildings, hospitals, station buildings, airports, and road facilities. In addition, the company offers the construction of information and communications systems, including mobile communication-related fields, such as mobile phone base station construction for telecommunication carriers, infrastructure-sharing projects, network infrastructure building-related fields, including network system construction for local governments, hospitals, and universities, IC card system construction, as well as railway communication fields, such as surveillance cameras and train radio construction. Further, it engages in the renewable energy, ZEB/energy-saving, air conditioning equipment, and plumbing and sanitary equipment businesses. The company was formerly known as Railway Electric Industries Co., Ltd. and changed its name to Nippon Densetsu Kogyo Co., Ltd. in 1949. Nippon Densetsu Kogyo Co., Ltd. was incorporated in 1942 and is headquartered in Tokyo, Japan.

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Solar Photovoltaic (PV) Market Size 2025-2029

The solar photovoltaic (pv) market size is valued to increase USD 58.47 billion, at a CAGR of 8.9% from 2024 to 2029. Increasing government support for solar power technology will drive the solar photovoltaic (pv) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 37% growth during the forecast period.
By Deployment - Ground-mounted segment was valued at USD 47.36 billion in 2023
By End-user - Commercial segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 103.14 million
Market Future Opportunities: USD 58465.50 million
CAGR from 2024 to 2029 : 8.9%

Market Summary

In the global energy market, Solar Photovoltaic (PV) technology has emerged as a significant player, driven by increasing corporate commitments to decarbonization and expanding government incentives. The Solar PV market's value surpassed USD100 billion in 2020, reflecting a robust demand for clean, renewable energy solutions. This trend is expected to persist, fueled by advancements in solar cell efficiency and the ongoing decline in module prices.
However, competition from alternative energy sources, such as wind and hydropower, presents challenges. Solar PV's adaptability to various applications, from utility-scale power plants to rooftop installations, underpins its versatility and broad market appeal. As technology continues to evolve, Solar PV's role in the global energy landscape will only grow more prominent.

What will be the Size of the Solar Photovoltaic (PV) Market during the forecast period?

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How is the Solar Photovoltaic (PV) Market Segmented ?

The solar photovoltaic (pv) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Deployment

  Ground-mounted
  Rooftop


End-user

  Commercial
  Residential
  Utility


Technology

  Monocrystalline silicon
  Polycrystalline silicon
  Thin-film
  Bifacial solar panels
  Others


Geography

  North America

    US


  Europe

    France
    Germany
    Italy
    Spain


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Deployment Insights

The ground-mounted segment is estimated to witness significant growth during the forecast period.

The market continues to evolve, with ground-mounted systems leading the charge in absorbing sunlight and converting it into electricity. This process, known as photovoltaic energy conversion, involves transferring the generated charge to power electronics inverters for grid integration. The demand for utility-scale solar PV systems has surged in recent years, driven by the growing global population and increasing electricity needs. Technological advancements, economies of scale, and industry competition have driven down installation costs, making solar energy a cost-effective alternative. Solar resource assessment, including solar irradiance modeling and energy yield optimization, plays a crucial role in maximizing system performance.

Thin film photovoltaics and silicon wafer production are two key areas of innovation, with bifacial solar panels and perovskite solar cells promising higher efficiency. Solar panel installation and maintenance, including string inverter technology and microinverter technology, are essential for optimizing system performance and lifespan. Solar energy harvesting is further enhanced by solar tracker systems, which increase capacity factor metrics. Renewable energy integration and electrical grid stability are ongoing challenges, addressed through energy storage systems and photovoltaic system design. Solar panel degradation is a critical concern, with anti-reflective coatings and capacity factor metrics essential for mitigating its impact. According to industry reports, solar PV systems are expected to generate over 1,000 TWh of electricity annually by 2025.

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The Ground-mounted segment was valued at USD 47.36 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 37% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia Pacific (APAC) region is poised for substantial expansion during the forecast period. In 2024, China, Japan, India, Australia, and South Korea emerged as the leading countries in the APAC

Price-To-Book-Ratio Time Series for Mitsubishi Corp.. Mitsubishi Corporation engages in the global environment and energy, material solutions, metal resources, social infrastructure, mobility, food industry, SLC, and power solutions businesses in Japan and internationally. The Global Environment and Energy segment engages in the development and production of natural gas and liquefied natural gas (LNG), LPG and petroleum products; and develops energy businesses. The Material Solutions segment is involved in sales transactions, and business investment and business development in material-related fields, including petrochemicals, basic chemicals, functional materials, carbon/ceramics, and steel products. The Metal Resources segment engages in the investment and development of metal resources, such as copper, coking coal, iron ore, aluminum, lithium, and nickel; and supplies of raw materials for steel and non-ferrous metals. The Social Infrastructure segment develops power generation, ships, aerospace, industrial machinery, energy infrastructure, and vinegar. The Mobility segment is involved in automotive value chain business, including sales, sales financing, after-sales services for automobiles, and mobility service businesses that are related to mobility; and mobility-related businesses. The Food industry segment sells food, fresh produce, consumer goods, and food ingredients. The S.L.C. segment is involved in C2B business. The Power Solutions segment engages in power generation, trading, and retail electricity, as well as power transmission and hydrogen energy development. The company was incorporated in 1950 and is headquartered in Tokyo, Japan.

Total-Other-Finance-Cost Time Series for Eneos Holdings Inc. ENEOS Holdings, Inc., through its subsidiaries, operates in the energy, oil and natural gas exploration and production, and metals businesses in Japan, China, Asia, and internationally. It operates through Petroleum Products, Oil and Natural Gas E&P, High Performance Materials, Electricity, Renewable Energy, and Other Segments. The Petroleum Products segment offers petroleum refining & marketing, basic chemical products, lubricants, gas, and hydrogen. The Oil and Natural Gas E&P provides oil and natural gas exploration, development, and production, carbon dioxide capture, transport, storage, and utilization. The High-Performance Materials segment provides synthetic rubber, special synthetic rubber, secondary buttery materials, emulsion, thermoplastic elastomer, high functional monomer, and high functional polymer. The Electricity segment offers power generation business, procurement and sale of electricity, city gas, overseas renewable energy, and VPP. The Renewable Energy segment provides wind power generation, solar power generation, and biomass power generation. The Other segment offers asphalt paving, civil engineering work, construction work, real estate leasing business, and fund procurement. Additionally, it engages in the asphalt paving, civil engineering, construction, land transportation; rail transportation of oil products; and real estate leasing, sale and purchase, and management. ENEOS Holdings, Inc. was founded in 1888 and is headquartered in Tokyo, Japan.