Rooftop Solar EPC Market Analysis

End use (Commercial & Industrial, Residential)

Commercial and industrial segment is predicted to dominate rooftop solar EPC market share of around 64.3% by the end of 2037, owing to the increasing adoption of solar PV in commercial and industrial enterprises. Governments across the world are providing incentives for commercial and industrial spaces to integrate solar energy solutions as these sectors are some of the largest consumers of electricity as end users. This provides lucrative opportunities to companies that provide rooftop solar EPC services as commercial and industrial spaces seek to leverage solar power solutions. For instance, in January 2023, the Government of Japan was providing rate incentives to push larger adoption of industrial rooftop solar by offering higher prices for solar power produced on the rooftops of corporate buildings beginning from fiscal year 2024. Additionally, the segment is advantageous for the rooftop solar EPC market owing to the large roof space available in factories and industrial buildings for solar PV mounting systems.

The residential segment is poised to increase its revenue share during the forecast period due to increasing adoptions of solar energy solutions in the residential sector. The segment’s rapid growth is attributed to the decreasing price of solar power solutions. For instance, global solar module prices reduced by 30% to 40% by the end of 2023 owing to supply and demand imbalance in China. This allows large-scale adoption of solar-powered solutions in residential spaces boosting the segment’s growth. Additionally, government initiatives and benefits incentivize residential property owners to leverage rooftop solar PV solutions. For instance, in September 2020, the Department for Business, Energy, and Industrial Strategy (BEIS) announced the Green Homes Grant (GHG) that will fund up to two-thirds of the cost of improvements in installing energy-efficient improvements to residential properties.

Capacity (10 to 50 kW, 50 kW to 1 MW, 1 to 10 kW, up to 1 kW)

The 10 to 50 kW segment by capacity of the global rooftop solar EPC market is projected to increase its revenue share by the end of the forecast period. The segment caters to large residential properties and small and medium-sized businesses. The adoption rate of this capacity range is higher in small-scale operations requiring significant energy output but does not have the large-scale infrastructure of industrial applications. The declining costs of solar-powered solutions are a major growth driver of the large-scale adoption of this segment. For instance, in June 2022, Aptech Africa Limited announced that a 50 kW solar energy generation system will be installed and deployed at Njala University, Sierra Leone.

Our in-depth analysis of the global rooftop solar EPC market includes the following segments: