Solar Generator Market Share

North America Market Statistics

North America in solar generator market is expected to account for around 39.9% revenue share by 2037, owing to multiple factors such as vast areas of land, abundant sunlight, and good conditions for solar energy harvesting. Other factors contributing to growth include falling solar panel prices and technological advances. Also, the presence of key players in the industry, such as Tesla, SunPower, and SolarEdge, has contributed to driving breakthroughs via their research and development activities and has carved an advanced definition of solar resource advantages by making it more accessible and affordable.

This has positioned North America as the hub for innovation and adoption, as many residential and commercial customers in the region have been using solar generators due to their energy requirements. The strong economy of the region is coupled with a green environment and growing demand for renewable sources of energy, which is expected to further drive the demand for the solar generator market in the region of North America.

Besides this, the government of the U.S. is aiding in the solar generator adoption through a range of initiatives such as solar investment tax credit, and funding, streamlining the processes to facilitate its installation. For instance, homeowners and businesses can claim up to 26% of tax credit which was increased up to 30% for systems installed between years 2022-2032.

In Canada, the companies have invested heavily in research and development, manufacturing, and marketing, thus making solar generators more reliable and efficient for use by consumers. For instance, the breakthrough of the EG4 product by The Cabin Depot company has a collection of off-grid systems, offering reliable and sustainable solar energy solutions tailored to meet the needs of residential users, commercial users, and industrial users.

Asia Pacific Market Analysis

Asia Pacific is deemed to be the fastest-growing region in the solar generator market owing to the increasing energy demands and rising concerns over climatic changes. The need for solar energy solutions has driven companies to embark on continuous research and developments to make it more result-driven and cost-effective, thus the region is influenced greatly by the support of key players such as Trina Solar, Jinko Solar, and TATA Power to meet the growing necessity. The region is likely to experience substantial growth in the solar generator market in the coming years.

In India, the 400MW Pavagada Solar Plant is a pivotal source of clean, renewable energy, serving the energy needs of Karnataka, which is a testament to India’s determination to acquire renewable energy as a major source and drive growth in the solar generator market.