The US solar panel market is estimated to grow modestly at a CAGR of around 15.0% during the forecast period. The US is among the top countries in the world in electricity generated by the Sun and several of the world’s largest utility-scale installations are located in the desert Southwest. The US contributes significantly in the growth of solar panel market in North America. As a result of the domestic manufacturing and advancing technology, solar panel has become one of the most affordable means of sources of electricity in the U.S. in the current scenario. Solar energy as a power source has also become one of the leading choices for new generation by the utilities.
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According to International Renewable Energy Agency (IRENA), around 14,858 GWh of electricity generated from solar photovoltaic in 2013, which increased with an exponential growth rate and reached around 67,393 GWh of solar photovoltaic installations in 2017 in the US. There are numerous projects which are being undertaken so as to promote the use of solar panels in the country. For instance, Biocomplexity Institute collaborated with the Sandia National Laboratory, National Rural Electric Cooperative Association (NRECA), and Arizona State University in 2016 for the development of solar panel technology which was funded by the government under the US Department of Energy’s SunShot Initiative.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
US Solar Panel Market by Technology
- Monocrystalline Solar Panel
- Polycrystalline Solar Panel
- Thin-Film Crystalline Solar Panel
- Other Solar Panels
US Solar Panel Market by End-User
- Household Sector
- Corporate Sector
Company Profiles
- Canadian Solar, Inc.
- First Solar, Inc.
- Hanwha SolarOne Co. Ltd.
- Kyocera Corp.
- Sharp Corp.
- SoloPower Systems, Inc.
- SunEdison, Inc.
- SunPower Corp.
- Trina Solar Energy Co., Ltd.
- Wuxi Suntech Power Co., Ltd.
The Report Covers
- Comprehensive research methodology of the US solar panel market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the US solar panel market.
- Insights about market determinants which are stimulating the US solar panel market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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