This graph illustrates the revenue of the US solar power industry from 2007 to 2017. It is forecasted that this industry will generate about 210 million US dollars in revenue in 2017. The industry is estimated to grow by about 7.4 percent from 2016 to 2017.

Solar energy growth in the United States – additional information The solar power industry in the United States has gradually increased its revenue over the past years, from 42.8 million U.S. dollars in 2007 to an expected 210.4 million U.S. dollars by 2017. The country has also increased its solar power generation, achieving a recent high growth of 35.8 percent between 2014 and 2015. The U.S. solar market has continued to grow with many project deployments on the pipeline. The residential solar market has also been extremely successful, reaching a capacity of 2,583 megawatts in 2016. Traditional electric utilities across the country have also begun to install solar modules, following a global trend of renewable energy expansion. Using residential solar energy provides consumers with an opportunity to function autonomously from the grid or receive feed-in tariffs. As of 2010, California began allowing homeowners to sell excess energy to their utility. In the Riverside-San Bernardino-Ontario - California metropolitan area, almost 19 percent of electricity generation is derived from solar sources. Feed-in tariffs have become one of the most successful mechanisms in encouraging the installation of solar power modules. Net generation of solar energy in the United States totaled 26.5 billion kilowatt hours in 2015.

The surging popularity of solar power amid environmental concerns has led to an uptick in installations. As electricity prices skyrocket, consumers and businesses seek ways to reduce their utility bills. Solar energy not only helps reduce costs but also cuts down on carbon emissions while promoting sustainability. Revenue for installation services swelled at a CAGR of 6.6% to 22.9 billion over the past five years, including a 5.4% hike in 2025 alone. The introduction of the investment tax credit (ITC), which offered a 30.0% tax credit, became a catalyst for installations. Initially, the tax credit was set to dip and expire in 2024. The recent Inflation Reduction Act reverted the credit to 30.0% and extended it until 2032. State and local governments also offer additional incentives for switching to solar. Increasing residential construction in 2020 and 2021 led to more installations as many new housing projects included solar panels to receive LEED certification and meet green initiatives targets. Low-cost imports from Asia and favorable regulations like the 24-month tariff pause led to the price of panels falling, causing installation services to charge less and attracting more customers. Profit remained afloat because of the influx of new installations. The Inflation Reduction Act significantly boosted domestic solar panel manufacturing, allowing installation companies to diversify their supply chains. Production and investment tax credits incentivized manufacturers to expand or establish new facilities, reducing dependence on foreign products. By sourcing panels domestically, installers now benefit from lower costs and are better prepared for future tariffs on China and Southeast Asian countries, especially as existing tariff waivers have expired. The continuation of ITCs will aid installations moving forward. Rising environmental concerns and the urge to go green will lead to more commercial and government buildings switching to solar panels to meet ESG standards and green goals. With more consumers and businesses moving toward solar power, contractors will hire more employees to fulfill the influx of new projects. Solar panel installation revenue will grow at a CAGR of 4.6% to $28.7 billion through 2030.

The residential solar market in the United States continues to grow, with Sunrun leading the pack as the largest installer in 2023. Holding an 11 percent market share, Sunrun outpaced competitors like Freedom Forever and SunPower, while Tesla Energy secured the fifth position with a two percent share. In that same year, Tesla Energy generated a revenue of over six billion U.S. dollars, experiencing significant revenue growth from the last few years. Growth of U.S. home solar As of 2023, residential solar PV capacity in the U.S. surpassed 36 gigawatts, accounting for about 25 percent of total solar installations nationwide. California, Texas, and Florida lead in residential solar system installations, with California boasting approximately 11.7 gigawatts of home solar at the end of 2023. The market expansion is evident in the newly installed residential sector PV capacity, which reached 6.8 gigawatts in 2023, a 15 percent increase from the previous year. Market trends and future outlook The residential solar market shows promising growth potential. The number of solar-equipped homes in the U.S. reached 4.4 million in 2023, with projections indicating a substantial increase to 16.8 million by 2032, which equates to a penetration rate of roughly 18 percent of single-unit housing. Detached single-family homes dominate the residential solar market, accounting for 94 percent of home solar system installations in 2023.

Solar panel manufacturers have thrived despite some hurdles throughout the period. Companies saw an uptick in the need for solar panels as the country continued emphasizing renewable energy. The Inflation Reduction Act bolstered and extended production and investment tax credits, making domestic manufacturing more viable. Even so, manufacturers have been plagued by import penetration, specifically from Asian products, which flooded the US market with low-cost solar modules and cells. In 2022, the Biden Administration announced waiving tariffs on solar panel imports from Vietnam, Malaysia, Cambodia and Thailand to accelerate solar panel installations across the country in favor of renewable energy. While this didn't hinder revenue, it caused a slowdown in growth in the middle of the period as import penetration was at an all-time high. Even so, these waivers expired in June 2024, providing operators with growth. Overall, solar panel manufacturing revenue has swelled a CAGR of 3.2% to $21.9 billion in 2025, including a 9.1% jump in 2025 alone. Through 2025, solar panel manufacturers have significantly benefited from the Inflation Reduction Act, which offers production tax credits to companies that expand or build manufacturing facilities and produce specific types of components. These credits incentivize expansion, enabling domestic solar panel manufacturing to increase substantially, boosting revenue and positioning the U.S. as one of the world's top producers. Additionally, this expansion prepares manufacturers to meet domestic demand during the outlook period, reducing reliance on imports. Revenue is set to push up as tariff waivers expired in June 2024, causing import penetration to contract throughout the outlook period. Government incentives and regulations like tax credits and renewable portfolio standards will push more consumers and businesses to adopt solar power, increasing the need for panels to meet installation quotas. Even so, domestic manufacturers will face pushback from traditional energy sources (think natural gas and coal) as President Trump aims to bolster the country’s fossil fuel production. Manufacturers must ramp up research and development to help take solar power to the next level. Revenue is set to climb at a CAGR of 6.2% over the five years through 2030, reaching $29.6 billion.

According to Cognitive Market Research, the Global Solar Panel market size will be USD 171548.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 68619.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 51464.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 39456.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 8577.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 3430.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The Photovoltaic Systems Technology held the highest Solar Panel market revenue share in 2024.

Market Dynamics of Solar Panel Market

Key Drivers for Solar Panel Market

Investments in Renewable Energy to Increase the Demand Globally

One of the primary factors driving the growth of the solar panel market is the increasing global investment in renewable energy. These investments are rising due to the cost-effectiveness of renewable energy production and its low carbon emissions. In the United States, renewable energy is projected to account for 42% of electricity generation by 2050, a significant increase from the current 20%. Between 2000 and 2020, utility-scale electricity generation from renewables in the U.S. grew by roughly 120%, rising from 356 billion kilowatt-hours (kWh) to 783 billion kWh. In 2020 alone, renewables contributed 19.5% of the nation’s net electricity generation. This surge in renewable energy investment directly supports the expansion of the solar panel market. As governments and private sectors increasingly focus on transitioning to clean energy, solar power—being one of the most scalable and widely available sources—becomes a key focus for development. The significant growth in renewable energy generation not only indicates a favorable environment for solar investments but also drives technological advancements, economies of scale, and supportive policies that further accelerate the adoption of solar panels. This, in turn, fuels the solar panel market’s expansion, making it a cornerstone of the global shift toward sustainable energy. https://www.trade.gov/sites/default/files/2022-04/2022SelectUSARenewableEnergyGuide.pdf

Growing Demand for Electric Vehicles (EVs) to Propel Market Growth

Rapid urbanization and infrastructure expansion in emerging economies are driving the demand for energy. Globally, an increasing share of the population is residing in cities. In 2012, 52.5% of the population lived in urban areas, a figure that was projected to rise to 56.9% by 2022. This percentage is generally higher in developed regions (79.7% in 2022) compared to developing areas (52.3%). In Least Developed Countries (LDCs), urban residents remain a minority at 35.8%. In the U.S., urban population growth was notable, with a 6.4% increase between 2010 and 2020 according to the 2020 Census data. As urban populations grow, new construction projects are increasingly incorporating solar energy solutions due to building regulations, energy efficiency requirements, and the push for sustainable urban development. Rooftop solar installations are becoming more common in both residential and commercial buildings, reflecting the growing emphasis on clean energy in urban planning and development. https://hbs.unctad.org/total-and-urban-population/ https://www.census.gov/newsroom/press-releases/2022/urban-rural-populations.html

Key Restraint for the Solar Panel Market

High Initial Installation Costs to Hamper the Market Growth 

The high initial installation costs continue to be a major barrier to the growth of the global solar panel market. While the price of solar panels has significantly dropped over the years, the overall upfront investment required for a complete solar sys...

This statistic shows the leading non-residential solar installers in the United States in 2015, based on market share. With a national market share of five percent, Borrego Solar Systems was ranked third during that period.

Market share of solar installers in the United States – additional information

The solar power industry in the United States has steadily increased its revenue over the past years. By 2017, revenue in the solar power industry is projected to reach more than 210 million U.S. dollars. The residential solar market alone in 2015 saw an exponential growth over the years, with an additional solar PV capacity of nearly 2,100 megawatts installed. Leading U.S residential solar installers that year, in terms of market share, were SolarCity, Vivint Solar and Sunrun. Outside the residential sector, traditional electric utilities across the country have also begun to install solar modules, following the global trend of renewable energy expansion. SolarCity was also ranked first among non-residential solar installers in the United States in 2015, accounting for 14 percent of total market share, followed by SunPower at 7 percent and Borrego Solar Systems at 5 percent of the national market share. Main commercial customers of these companies, including Walmart, Prologis, Target and Apple, installed solar power modules that would mainly function autonomously from the grid or in order to receive feed-in tariffs. Combining the residential and non-residential sector, solar power net generation in the United States amounted to over 26,000 million kilowatt hours in 2015.

This statistic represents the estimated size of the global market for solar photovoltaic modules between 2007 and 2016. Globally, this sector is estimated to have generated about 41.9 billion U.S. dollars in revenue in 2016.

Solar power companies have skyrocketed, propelled by improvements in the technologies used for electricity generation and government incentives, like the renewable portfolio standard (RPS) targets. RPS legislation requires local utility companies to diversify their portfolio and generate percentages of their energy production through renewable resources. Increases in public support for green energy led to tax incentives and grants to encourage investment in solar power. This has led to more companies powering facilities with solar power, driving growth. Revenue has swelled at a CAGR of 23.2% to $32.6 billion through the end of 2025, including a 34.1% uptick in 2025 alone. Government assistance from federal and state entities led to significant growth in solar power. The number of solar projects has skyrocketed, exemplifying a triumph for energy policy in solar power, which has historically struggled to compete with traditional power sources. Government programs like credits, grants and tax exemptions have allowed many companies to overcome the high entry costs of solar power and support solar energy development. The declines in the price of inputs over the past few decades have lowered operational costs, bolstering profit. Tax credits have also bolstered the number of solar panel manufacturers in the US, allowing the industry to face little setback after tariff waivers on foreign panels expired. Through 2030, many trends that have allowed the industry to succeed will continue. Government tax credits will remain active, allowing solar power companies to compete with other energy sources. The domestic solar panel manufacturing surge will enable companies to source panels much more quickly, letting solar power expand rapidly. Even so, the new Trump administration has been vocal in supporting fossil fuels and has stated it plans to expand oil and gas production, which may weaken solar power. Nonetheless, upgrades in technology will enable solar panels to become more efficient, bringing down the cost and allowing them to achieve grid parity in states where solar is price-competitive. Revenue will expand at a CAGR of 20.5% to $82.9 billion through 2030.

China is home to many of the largest solar companies in the world. As of 2019, Jinko Solar, headquartered in Shanghai was the leading solar company that generated nearly 4.2 billion U.S. dollars.

Canadian Solar Based on revenue, Canadian Solar was one of these companies (also with headquarters in Canada), generating 3.2 billion U.S. dollars in 2019. Canadian Solar has business subsidiaries in most continents of the world and is a manufacturer of solar photovoltaic modules and other solar energy products.

Solar company trends Solar companies that are investing in technological innovations and encouraging sustainable infrastructure will provide the structure for market growth in the coming years. Incorporating other technologies like energy storage or information technology will also be essential in the future, along with a growth in distributed power systems. Some companies are focusing on integrating downstream and upstream players, while others are aiming to make owning solar panels more accessible for homeowners.

The Report Covers the Global Off-Grid Solar Energy Market Size and Share, and It is Segmented by End User (Residential, Commercial, and Industrial) and Geography (North America, Asia-Pacific, Europe, South America, and Middle East and Africa). The Market Size and Forecasts for the Off-Grid Solar Energy Market are Provided in Terms of Revenue (USD) for all the Above Segments.

The solar power equipment market size was valued at USD 144.46 billion in 2024 and is likely to cross USD 587.83 billion by 2037, registering more than 11.4% CAGR during the forecast period i.e., between 2025-2037. North America industry is expected to account for largest revenue share by 2037, attributed to growing deployment of solar farms in several nations in the region, followed by lucrative federal tax credit incentives initiated by the government of the U.S. for the greater adoption of solar equipment.

This repository includes python scripts and input/output data associated with the following publication:

[1] Brown, P.R.; O'Sullivan, F. "Spatial and temporal variation in the value of solar power across United States Electricity Markets". Renewable & Sustainable Energy Reviews 2019. https://doi.org/10.1016/j.rser.2019.109594

Please cite reference [1] for full documentation if the contents of this repository are used for subsequent work.

Many of the scripts, data, and descriptive text in this repository are shared with the following publication:

[2] Brown, P.R.; O'Sullivan, F. "Shaping photovoltaic array output to align with changing wholesale electricity price profiles". Applied Energy 2019, 256, 113734. https://doi.org/10.1016/j.apenergy.2019.113734

All code is in python 3 and relies on a number of dependencies that can be installed using pip or conda.

Contents

pvvm/*.py : Python module with functions for modeling PV generation and calculating PV energy revenue, capacity value, and emissions offset.

notebooks/*.ipynb : Jupyter notebooks, including:

pvvm-vos-data.ipynb: Example scripts used to download and clean input LMP data, determine LMP node locations, assign nodes to capacity zones, download NSRDB input data, and reproduce some figures in [1]

pvvm-example-generation.ipynb: Example scripts demonstrating the use of the PV generation model and a sensitivity analysis of PV generator assumptions

pvvm-example-plots.ipynb: Example scripts demonstrating different plotting functions

validate-pv-monthly-eia.ipynb: Scripts and plots for comparing modeled PV generation with monthly generation reported in EIA forms 860 and 923, as discussed in SI Note 3 of [1]

validate-pv-hourly-pvdaq.ipynb: Scripts and plots for comparing modeled PV generation with hourly generation reported in NREL PVDAQ database, as discussed in SI Note 3 of [1]

pvvm-energyvalue.ipynb: Scripts for calculating the wholesale energy market revenues of PV and reproducing some figures in [1]

pvvm-capacityvalue.ipynb: Scripts for calculating the capacity credit and capacity revenues of PV and reproducing some figures in [1]

pvvm-emissionsvalue.ipynb: Scripts for calculating the emissions offset of PV and reproducing some figures in [1]

pvvm-breakeven.ipynb: Scripts for calculating the breakeven upfront cost and carbon price for PV and reproducing some figures in [1]

html/*.html : Static images of the above Jupyter notebooks for viewing without a python kernel

data/lmp/*.gz : Day-ahead nodal locational marginal prices (LMPs) and marginal costs of energy (MCE), congestion (MCC), and losses (MCL) for CAISO, ERCOT, MISO, NYISO, and ISONE.

At the time of publication of this repository, permission had not been received from PJM to republish their LMP data. If permission is received in the future, a new version of this repository will be linked here with the complete dataset.

results/*.csv.gz : Simulation results associated with [1], including modeled energy revenue, capacity credit and revenue, emissions offsets, and breakeven costs for PV systems at all LMP nodes

Data notes

ISO LMP data are used with permission from the different ISOs. Adapting the MIT License (https://opensource.org/licenses/MIT), "The data are provided 'as is', without warranty of any kind, express or implied, including but not limited to the warranties of merchantibility, fitness for a particular purpose and noninfringement. In no event shall the authors or sources be liable for any claim, damages or other liability, whether in an action of contract, tort or otherwise, arising from, out of or in connection with the data or other dealings with the data." Copyright and usage permissions for the LMP data are available on the ISO websites, linked below.

ISO-specific notes on LMP data:

CAISO data from http://oasis.caiso.com/mrioasis/logon.do are used pursuant to the terms at http://www.caiso.com/Pages/PrivacyPolicy.aspx#TermsOfUse.

ERCOT data are from http://www.ercot.com/mktinfo/prices.

MISO data are from https://www.misoenergy.org/markets-and-operations/real-time--market-data/market-reports/ and https://www.misoenergy.org/markets-and-operations/real-time--market-data/market-reports/market-report-archives/.

PJM data were originally downloaded from https://www.pjm.com/markets-and-operations/energy/day-ahead/lmpda.aspx and https://www.pjm.com/markets-and-operations/energy/real-time/lmp.aspx. At the time of this writing these data are currently hosted at https://dataminer2.pjm.com/feed/da_hrl_lmps and https://dataminer2.pjm.com/feed/rt_hrl_lmps.

NYISO data from http://mis.nyiso.com/public/ are used subject to the disclaimer at https://www.nyiso.com/legal-notice.

ISONE data are from https://www.iso-ne.com/isoexpress/web/reports/pricing/-/tree/lmps-da-hourly and https://www.iso-ne.com/isoexpress/web/reports/pricing/-/tree/lmps-rt-hourly-final. The Material is provided on an "as is" basis. ISO New England Inc., to the fullest extent permitted by law, disclaims all warranties, either express or implied, statutory or otherwise, including but not limited to the implied warranties of merchantability, non-infringement of third parties' rights, and fitness for particular purpose. Without limiting the foregoing, ISO New England Inc. makes no representations or warranties about the accuracy, reliability, completeness, date, or timeliness of the Material. ISO New England Inc. shall have no liability to you, your employer or any other third party based on your use of or reliance on the Material.

Data workup: LMP data were downloaded directly from the ISOs using scripts similar to the pvvm.data.download_lmps() function (see below for caveats), then repackaged into single-node single-year files using the pvvm.data.nodalize() function. These single-node single-year files were then combined into the dataframes included in this repository, using the procedure shown in the pvvm-vos-data.ipynb notebook for MISO. We provide these yearly dataframes, rather than the long-form data, to minimize file size and number. These dataframes can be unpacked into the single-node files used in the analysis using the pvvm.data.copylmps() function.

Usage notes

Code is provided under the MIT License, as specified in the pvvm/LICENSE file and at the top of each *.py file.

Updates to the code, if any, will be posted in the non-static repository at https://github.com/patrickbrown4/pvvm_vos. The code in the present repository has the following version-specific dependencies:

matplotlib: 3.0.3

numpy: 1.16.2

pandas: 0.24.2

pvlib: 0.6.1

scipy: 1.2.1

tqdm: 4.31.1

To use the NSRDB download functions, you will need to modify the "settings.py" file to insert a valid NSRDB API key, which can be requested from https://developer.nrel.gov/signup/. Locations can be specified by passing (latitude, longitude) floats to pvvm.data.downloadNSRDBfile(), or by passing a string googlemaps query to pvvm.io.queryNSRDBfile(). To use the googlemaps functionality, you will need to request a googlemaps API key (https://developers.google.com/maps/documentation/javascript/get-api-key) and insert it in the "settings.py" file.

Note that many of the ISO websites have changed in the time since the functions in the pvvm.data module were written and the LMP data used in the above papers were downloaded. As such, the pvvm.data.download_lmps() function no longer works for all ISOs and years. We provide this function to illustrate the general procedure used, and do not intend to maintain it or keep it up to date with the changing ISO websites. For up-to-date functions for accessing ISO data, the following repository (no connection to the present work) may be helpful: https://github.com/catalyst-cooperative/pudl.

Market Overview:

The Global Photovoltaic POE Film Sales Market size is estimated to be worth US$ XX million in 2018 and is expected to reach US$ XX million by 2028, at a CAGR of XX% during the forecast period. The growth in the market can be attributed to the increasing demand for solar energy across the globe. The global photovoltaic POE film sales market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into 970mm width, 1150mm width, and others. On the basis of application, it can be classified into the photovoltaic industry, the clothing industry, and others. Geographically, it can be segmented into North America, Latin America, Europe Asia Pacific, and Middle East & Africa.

Product Definition:

Photovoltaic POE film is a type of solar cell that converts sunlight into electricity. It is made of a thin layer of semiconductor material, typically silicon. When light hits the photovoltaic POE film, it creates an electrical current.

970mm Width:

970mm Width photovoltaic POE film is a type of solar cell that is 970mm wide. It is good for applications that require a lot of power, such as solar farms. It works by converting sunlight into electricity. No matter what the size, all solar cells work in the same way. It is expected to be a significant segment in the global PV film sales market over the forecast period on account of the growing demand for renewable energy and environmental concerns. Increasing installation capacity coupled with rising demand for electricity from end-use industries such as residential, commercial, and industrial sectors has driven this industry’s growth over recent years.

1150mm Width:

1150mm Width photovoltaic POE film is different from the 970mm width photovoltaic POE film because it is 1150mm wide. It is for applications that require even more power than the 970mm width photovoltaic POE film. But, like the 970mm width photovoltaic POE film, it converts sunlight into electricity.

Application Insights:

The photovoltaic industry was the largest application segment in 2017 and accounted for a market share of more than 70% by revenue. The growing demand for solar energy in the residential and commercial sectors has been a major factor driving product demand. In addition, favorable government policies and tax rebates offered for installing solar power systems are expected to augment growth over the forecast period. The clothing industry was another significant application segment that accounted for 15% of total revenue share in 2017 owing to the rising use of lightweight Polyester Films with high resistance against UV light, aging & washing along with other benefits such as anti-microbial properties which makes it suitable for manufacturing apparel such as T-shirts, polo shirts, etc. Furthermore, these products when applied to textiles act as an aesthetic enhancement thereby enhancing the end product quality which is also likely to fuel market growth over the coming years.

Regional Analysis:

Europe accounted for the largest revenue share of over 40% in the global market in 2017. The region is expected to maintain its lead throughout the forecast period owing to rising installations of solar panels on residential and commercial buildings. In addition, favorable government policies encouraging renewable energy are anticipated to drive demand for photovoltaic POE film over the forecast period. The Asia Pacific regional market is projected to register a significant growth rate from 2018 to 2028 due to increasing awareness regarding the benefits of solar energy along with growing investments by companies in this region. Countries such as Japan, China, South Korea, and Australia have been experiencing strong economic growth which has led them to be ranked among the top 10 countries investing most heavily in PV technology worldwide; thus positively influencing industry growth across the APAC region significantly over the next eight years.

Growth Factors:

• Increasing demand for renewable energy: The global increase in demand for renewable energy is expected to drive the growth of the photovoltaic POE film market.
• Government initiatives and regulations: Governments across the globe are promoting the use of solar energy through various initiatives and regulations, which are expected to propel the growth of the photovoltaic POE film market.
• Declining prices of solar modules: The declining prices of solar modules are anticipated to boost the uptake of PV systems, thereby driving demand for photovoltaic POE films.
• Growing awaren

The Rooftop Energy Potential of Low Income Communities in America REPLICA data set provides estimates of residential rooftop solar technical potential at the tract-level with emphasis on estimates for Low and Moderate Income LMI populations. In addition to technical potential REPLICA is comprised of 10 additional datasets at the tract-level to provide socio-demographic and market context. The model year vintage of REPLICA is 2015. The LMI solar potential estimates are made at the tract level grouped by Area Median Income AMI income tenure and building type. These estimates are based off of LiDAR data of 128 metropolitan areas statistical modeling and ACS 2011-2015 demographic data. The remaining datasets are supplemental datasets that can be used in conjunction with the technical potential data for general LMI solar analysis planning and policy making. The core dataset is a wide-format CSV file seeds_ii_replica.csv that can be tagged to a tract geometry using the GEOID or GISJOIN fields. In addition users can download geographic shapefiles for the main or supplemental datasets. This dataset was generated as part of the larger NREL-led SEEDSII Solar Energy Evolution and Diffusion Studies project and specifically for the NREL technical report titled Rooftop Solar Technical Potential for Low-to-Moderate Income Households in the United States by Sigrin and Mooney 2018. This dataset is intended to give researchers planners advocates and policy-makers access to credible data to analyze low-income solar issues and potentially perform cost-benefit analysis for program design. To explore the data in an interactive web mapping environment use the NREL SolarForAll app.

In 2023, the export revenue from solar photovoltaic equipment in China reached 49 billion U.S. dollars, an decrease of 5.6 percent in comparison with the previous year. In 2018, China's solar PV export revenue amounted to only 15 billion U.S. dollars. China is the global leader in the manufacturing of solar PV equipment.

According to Cognitive Market Research, the global Space based solar power Market size will be USD 3256.6 million in 2025. It will expand at a compound annual growth rate (CAGR) of 2.2% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1302.64 million in 2025 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 976.98 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 749.02 million in 2025 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2025 to 2033.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 162.83 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2025 to 2033.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 65.13 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.4% from 2025 to 2033.
The acoustic category led the Space based solar power Market.

Market Dynamics of Space-based solar power Market

Key Drivers for Space-based solar power Market

Rising Global Energy Demand Propels Space-Based Solar Power Adoption for Sustainable Energy Solutions

The rapid increase in global energy consumption, driven by industrialization and population growth, is creating an urgent demand for sustainable and reliable energy solutions. Space-based solar power (SBSP) offers a transformative approach by capturing solar energy directly from Space, ensuring continuous energy generation unaffected by weather or day-night cycles. This capability makes SBSP a critical technology for addressing energy needs in remote and underserved regions. Additionally, its potential to reduce dependency on fossil fuels aligns with global sustainability goals and climate change mitigation efforts. For instance, the US Department of Energy has invested in SBSP research projects aimed at developing scalable, efficient systems for large-scale electricity generation. Such initiatives highlight the growing recognition of SBSP as a viable solution for future energy challenges.

Technological Advancements in Satellite Launch and Wireless Power Transmission Drive SBSP Feasibility

Breakthroughs in satellite launch technologies and wireless power transmission are making space-based solar power systems more practical and cost-effective. The development of reusable launch vehicles and miniaturized satellites has significantly reduced the cost of deploying SBSP infrastructure. Simultaneously, advancements in microwave and laser-based power transmission ensure efficient energy transfer from Space to ground stations with minimal losses.For example, SpaceX's reusable Falcon 9 rockets have drastically lowered launch costs, facilitating SBSP project feasibility. Similarly, research into high-efficiency microwave transmission technologies by organizations like JAXA demonstrates progress in ensuring reliable power delivery.

Restraint Factor for the Space-based solar power Market

High Initial Investment and Infrastructure Costs Pose Challenges for SBSP Implementation at Scale

The high initial investment required for space-based solar power (SBSP) projects is one of the major barriers to large-scale implementation. Developing SBSP infrastructure involves designing advanced solar satellites that can efficiently capture and transmit solar energy, as well as constructing ground-based receivers that can convert the energy into usable electricity. The technology needed for reliable wireless power transmission also adds significant costs. Additionally, the complexity of space missions and the need for highly specialized equipment further increase expenses. The cost of launching these satellites into orbit is another considerable factor. Despite recent advancements in reusable rocket technology, launch costs remain high. For instance, a single launch of a large payload can exceed tens of millions of dollars. Even with improvements in satellite miniaturization, the total cost of deployment is still substantial.

Market Trends in Space-based solar power Market

Increasing Collaboration Between Space Agencies and Private Companies Accelerates SBSP Technological Advancements

Collabo...

According to Cognitive Market Research, the global Solar Cell Paste market size will be USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of XX% from 2024 to 2033.

MARKET DYNAMICS: KEY DRIVERS

The declining cost of solar panels is fueling the Solar Paste Cell Market 

The declining cost of solar energy, driven by technological advancements and economies of scale, is fueling the market demand for solar energy, making solar power increasingly competitive than fossil fuels. Improvements in solar panel efficiency and manufacturing processes have contributed to lower costs which has fueled the demand for solar photovoltaic modules. The rising demand for solar photovoltaic modules has led to an increase in the production of solar modules which has resulted in lower per unit cost of production, henceforth leading to an increase in the supply. Government policies such as tax credits, subsidies, and renewable energy mandates are making solar panels more attractive which is fueling the solar photovoltaic modules demand due to lower cost hence fueling the solar paste cells market. • For instance, the cost of solar photovoltaic modules has fallen by 90% in the last ten decades. The fall in the prices have led to increase in the demand for solar photovoltaic modules, henceforth driving the solar cell paste market.

Increasing global demand for solar energy is fueling the Solar Cell Paste 

Global demand for solar PV is rapidly increasing, driven by the need for clean energy and the rising concerns towards the environment is driving the solar cells paste market. The urgent need to combat climate change and transition towards renewable energy is a major driver of market. Government policies such as net-zero targets all over the globe have significantly driven the solar cell paste market. • For instance, US aims to achieve net-zero emissions by 2050, with a target of reducing emissions by 50-52% below 2005 levels by 2030 which has led to increasing adoption of renewable energy resources hence fueling the market. • By the end of 2024, global solar manufacturing capacity is likely to reach over 1,100 GW, far exceeding the demand for photovoltaic panels henceforth driving the solar cell paste market.

Restraints

High manufacturing cost 

The cost of manufacturing of solar cell paste is often very high for manufacturers owing to availability of raw materials and the rapid change in the price of raw materials. The raw materials used in the manufacturing of solar paste consist of high-purity silver powder, glass powder, and organic raw materials whose prices are highly fluctuating in the market. The silver powder which is significantly used in making the solar cell paste prices is highly fluctuating in nature which is a major restraint for the manufacturers in the solar sector. The high cost of raw materials is often transferred to the buyers which makes the panels quite expensive henceforth reducing the demand for the solar modules which impacts solar cells paste market size. • For instance, with the increasing demand for solar energy India imported 4172 metric tons of silver between January and April 2024, surpassing 3625 metric tons for all of 2023.The fluctuations in silver prices have significantly impacted the cost of production, hence impacting the demand. Introduction of Solar Cell Paste Market

The global solar cell paste market is experiencing significant growth driven by the increasing demand for solar energy and the rapid advancements in the solar sector. Solar cell paste, also known as photovoltaic(PV) silver paste cell manufacturing to form metal electrodes, collect current, and transfer it to the cell’s circuitry, ultimately enhancing efficiency. Global demand for solar PV is rapidly increasing, driven by the need for clean energy and the rising concerns towards the environment is driving the solar cells paste market. Additionally, the falling prices of solar energy have led to an increase in demand for solar modules which is fueling the solar cell paste market demand. Government initiatives including tax cuts and subsidies are significantly contributing to the rising demand for solar cell paste.