The US Residential Solar Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)
The report titled “The US Residential Solar Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)”, provides an in depth analysis of the US residential solar market by value, by annual installations, by cumulative installations, by penetration, by region, etc. The report provides a regional analysis of the US residential solar market, including the following regions: California, and the Rest of the US. The report also provides a detailed analysis of the COVID-19 impact on the residential solar market.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US residential solar market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The US residential solar market is fragmented with the presence of many major players. The key players of the market: Sunrun, Inc., SunPower Corporation, Tesla, Inc. and Titan Solar Power are also profiled with their financial information and respective business strategies.
Country Coverage
The world's energy demand is rapidly increasing as a result of population growth and technological improvements. To meet the future energy demand, it is consequently critical to choose a stable, cost-effective, and eternal renewable energy source.
The need to change to clean energy sources is continually increasing due to the ecological imbalance and global warming caused by hazardous emissions from coal-fired power plants. Solar energy, like other renewable energy sources, is a promising and readily available source of energy for addressing long-term difficulties in the energy crisis. Because of the tremendous need for energy, the solar market is steadily growing all over the world, despite the fact that the main energy source, fossil fuel, is finite and other sources are expensive.
Though the solar energy can be utilized for a variety of purposes including residential, commercial and utility, the demand of residential solar has escalated in recent years. Residential solar panels are mainly used for the domestic purpose.
The US residential solar market has significantly increased in 2020 and it is projected that the market would rise considerably in the next four years i.e. 2021-2025. The US residential solar market is expected to rise due to falling costs for solar system, rising utility bills, easy residential solar financing and leasing, Federal and State policy support, rising demand for rooftop solar and shift towards clean energy. The market also faces some challenges like supply chain disruptions and declining efficiency associated with bad weather and low sunlight.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US residential solar market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The US residential solar market is fragmented with the presence of many major players. The key players of the market: Sunrun, Inc., SunPower Corporation, Tesla, Inc. and Titan Solar Power are also profiled with their financial information and respective business strategies.
Country Coverage
- The US
- Sunrun, Inc.
- SunPower Corporation
- Tesla, Inc.
- Titan Solar Power
The world's energy demand is rapidly increasing as a result of population growth and technological improvements. To meet the future energy demand, it is consequently critical to choose a stable, cost-effective, and eternal renewable energy source.
The need to change to clean energy sources is continually increasing due to the ecological imbalance and global warming caused by hazardous emissions from coal-fired power plants. Solar energy, like other renewable energy sources, is a promising and readily available source of energy for addressing long-term difficulties in the energy crisis. Because of the tremendous need for energy, the solar market is steadily growing all over the world, despite the fact that the main energy source, fossil fuel, is finite and other sources are expensive.
Though the solar energy can be utilized for a variety of purposes including residential, commercial and utility, the demand of residential solar has escalated in recent years. Residential solar panels are mainly used for the domestic purpose.
The US residential solar market has significantly increased in 2020 and it is projected that the market would rise considerably in the next four years i.e. 2021-2025. The US residential solar market is expected to rise due to falling costs for solar system, rising utility bills, easy residential solar financing and leasing, Federal and State policy support, rising demand for rooftop solar and shift towards clean energy. The market also faces some challenges like supply chain disruptions and declining efficiency associated with bad weather and low sunlight.
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 Residential Solar: An Overview
2.1.1 Early Uses Of Solar Energy
2.1.2 Solar Cell Invention
2.1.3 Difference: Residential vs Commercial Solar Panels
2.1.4 Benefits Of Residential Solar
2.2 Residential Solar Segmentation: An Overview
2.2.1 Residential Solar Panel Segmentation And Their Efficiency
3. THE US MARKET ANALYSIS
3.1 The US Residential Solar Market: An Analysis
3.1.1 The US Residential Solar Market by Value
3.1.2 The US Residential Solar Market by Annual Installations
3.1.3 The US Residential Solar Market by Cumulative Installations
3.1.4 The US Residential Solar Market by Penetration
3.1.5 The US Residential Solar Market by Region (California, and Rest of the US)
3.1.6 The US Residential Solar Market Installations by Region (California, Next 9 States, and Rest of the US)
4. THE US REGIONAL MARKET ANALYSIS
4.1 California Residential Solar Market: An Analysis
4.1.1 California Residential Solar Market by Value
4.1.2 California Residential Solar Market by Annual Installations
4.2 Next 9 States Residential Solar Market: An Analysis
4.2.1 Next 9 States Residential Solar Market by Annual Installations
4.3 Rest of the US Residential Solar Market: An Analysis
4.3.1 Rest of the US Residential Solar Market by Value
5. IMPACT OF COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on the US Residential Solar Market
5.1.2 Decline in Solar Workforce
5.1.3 Supply Chain Constraints Lead to Price Increases
5.1.4 Post-COVID Scenario
6. MARKET DYNAMICS
6.1 Growth Drivers
6.1.1 Falling Costs for Solar System
6.1.2 Rising Utility Bills
6.1.3 Easy Residential Solar Financing and Leasing
6.1.4 Federal and State Policy Support
6.1.5 Rising Demand for Rooftop Solar
6.1.6 Shift Towards Clean Energy
6.2 Challenges
6.2.1 Supply Chain Disruptions
6.2.2 Declining Efficiency Associated with Bad Weather or Low Sunlight
6.3 Market Trends
6.3.1 California Solar Mandate
6.3.2 Advancements in Solar Panels
6.3.3 Application Of Artificial Intelligence (AI) in the Solar Market
7. COMPETITIVE LANDSCAPE
7.1 The US Residential Solar Market Players: A Financial Comparison
7.2 The US Residential Solar Market Players by Research & Development (R&D) Expenses
7.3 The US Residential Solar Players by Market Share
8. COMPANY PROFILES
8.1 Sunrun, Inc
8.1.1 Business Overview
8.1.2 Financial Overview
8.1.3 Business Strategy
8.2 SunPower Corporation
8.2.1 Business Overview
8.2.2 Financial Overview
8.2.3 Business Strategy
8.3 Tesla, Inc.
8.3.1 Business Overview
8.3.2 Financial Overview
8.3.3 Business Strategy
8.4 Titan Solar Power
8.4.1 Business Overview
8.4.2 Business Strategy
2. INTRODUCTION
2.1 Residential Solar: An Overview
2.1.1 Early Uses Of Solar Energy
2.1.2 Solar Cell Invention
2.1.3 Difference: Residential vs Commercial Solar Panels
2.1.4 Benefits Of Residential Solar
2.2 Residential Solar Segmentation: An Overview
2.2.1 Residential Solar Panel Segmentation And Their Efficiency
3. THE US MARKET ANALYSIS
3.1 The US Residential Solar Market: An Analysis
3.1.1 The US Residential Solar Market by Value
3.1.2 The US Residential Solar Market by Annual Installations
3.1.3 The US Residential Solar Market by Cumulative Installations
3.1.4 The US Residential Solar Market by Penetration
3.1.5 The US Residential Solar Market by Region (California, and Rest of the US)
3.1.6 The US Residential Solar Market Installations by Region (California, Next 9 States, and Rest of the US)
4. THE US REGIONAL MARKET ANALYSIS
4.1 California Residential Solar Market: An Analysis
4.1.1 California Residential Solar Market by Value
4.1.2 California Residential Solar Market by Annual Installations
4.2 Next 9 States Residential Solar Market: An Analysis
4.2.1 Next 9 States Residential Solar Market by Annual Installations
4.3 Rest of the US Residential Solar Market: An Analysis
4.3.1 Rest of the US Residential Solar Market by Value
5. IMPACT OF COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on the US Residential Solar Market
5.1.2 Decline in Solar Workforce
5.1.3 Supply Chain Constraints Lead to Price Increases
5.1.4 Post-COVID Scenario
6. MARKET DYNAMICS
6.1 Growth Drivers
6.1.1 Falling Costs for Solar System
6.1.2 Rising Utility Bills
6.1.3 Easy Residential Solar Financing and Leasing
6.1.4 Federal and State Policy Support
6.1.5 Rising Demand for Rooftop Solar
6.1.6 Shift Towards Clean Energy
6.2 Challenges
6.2.1 Supply Chain Disruptions
6.2.2 Declining Efficiency Associated with Bad Weather or Low Sunlight
6.3 Market Trends
6.3.1 California Solar Mandate
6.3.2 Advancements in Solar Panels
6.3.3 Application Of Artificial Intelligence (AI) in the Solar Market
7. COMPETITIVE LANDSCAPE
7.1 The US Residential Solar Market Players: A Financial Comparison
7.2 The US Residential Solar Market Players by Research & Development (R&D) Expenses
7.3 The US Residential Solar Players by Market Share
8. COMPANY PROFILES
8.1 Sunrun, Inc
8.1.1 Business Overview
8.1.2 Financial Overview
8.1.3 Business Strategy
8.2 SunPower Corporation
8.2.1 Business Overview
8.2.2 Financial Overview
8.2.3 Business Strategy
8.3 Tesla, Inc.
8.3.1 Business Overview
8.3.2 Financial Overview
8.3.3 Business Strategy
8.4 Titan Solar Power
8.4.1 Business Overview
8.4.2 Business Strategy
LIST OF FIGURES
Figure 1: Early Uses of Solar Energy
Figure 2: Solar Cell Inventions
Figure 3: Benefits of Residential Solar
Figure 4: Residential Solar Segmentation by Type
Figure 5: The US Residential Solar Market by Value; 2020-2025 (US$ Billion)
Figure 6: The US Residential Solar Market by Annual Installations; 2016-Q1 2021 (GWDC)
Figure 7: The US Residential Solar Market by Cumulative Installations; 2016-2020 (GWDC)
Figure 8: The US Residential Solar Market by Cumulative Installations; 2021-2025 (GWDC)
Figure 9: The US Residential Solar Market by Penetration; 2016-2020 (Percentage, %)
Figure 10: The US Residential Solar Market by Penetration; 2021-2025 (Percentage, %)
Figure 11: The US Residential Solar Market by Region; 2020 (Percentage, %)
Figure 12: The US Residential Solar Market Installations by Region; 2020 (Percentage, %)
Figure 13: California Residential Solar Market by Value; 2020-2025 (US$ Billion)
Figure 14: California Residential Solar Market by Annual Installations; 2016-2020 (GWDC)
Figure 15: Next 9 States Residential Solar Market by Annual Installations; 2016-2020 (GWDC)
Figure 16: Rest of The US Residential Solar Market by Value; 2020-2025 (US$ Billion)
Figure 17: The US Solar Workforce; 2016-2020
Figure 18: The US Percentage Change in Residential Solar PV Installed Price; Q2 2020 to Q2 2021 (Percentage, %)
Figure 19: The US Blended Average Solar PV Price, 2016-2020 (US$/Watt)
Figure 20: The US Residential Utility Bills; 2015-2021 (US$ Cents/kWh)
Figure 21: The US Loan Market Share; 2015-2025 (Percentage, %)
Figure 22: The US Federal Investment Tax Credit for Solar; 2017 - 2023 (Percentage, %)
Figure 23: The US Residential Solar Market Players by Research & Development (R&D) Expenses; 2018-2020 (US$ Million)
Figure 24: The US Residential Solar Players by Market Share; Q1 2020-Q4 2020 (Percentage, %)
Figure 25: Sunrun, Inc. Revenue; 2016-2020 (US$ Million)
Figure 26: SunPower Corporation Total Revenue; 2016-2020 (US$ Billion)
Figure 27: SunPower Corporation Total Revenue by Segments; 2020 (Percentage, %)
Figure 28: Tesla, Inc. Total Revenues; 2016-2020 (US$ Billion)
Figure 29: Tesla, Inc. Total Revenues by Segments; 2020 (Percentage, %)
Figure 30: Tesla, Inc. Total Revenues by Region; 2020 (Percentage, %)
Table 1: Panel Type, Efficiency and Average Costs
Table 2: The US Residential Solar Market Players: A Financial Comparison; 2020
Figure 1: Early Uses of Solar Energy
Figure 2: Solar Cell Inventions
Figure 3: Benefits of Residential Solar
Figure 4: Residential Solar Segmentation by Type
Figure 5: The US Residential Solar Market by Value; 2020-2025 (US$ Billion)
Figure 6: The US Residential Solar Market by Annual Installations; 2016-Q1 2021 (GWDC)
Figure 7: The US Residential Solar Market by Cumulative Installations; 2016-2020 (GWDC)
Figure 8: The US Residential Solar Market by Cumulative Installations; 2021-2025 (GWDC)
Figure 9: The US Residential Solar Market by Penetration; 2016-2020 (Percentage, %)
Figure 10: The US Residential Solar Market by Penetration; 2021-2025 (Percentage, %)
Figure 11: The US Residential Solar Market by Region; 2020 (Percentage, %)
Figure 12: The US Residential Solar Market Installations by Region; 2020 (Percentage, %)
Figure 13: California Residential Solar Market by Value; 2020-2025 (US$ Billion)
Figure 14: California Residential Solar Market by Annual Installations; 2016-2020 (GWDC)
Figure 15: Next 9 States Residential Solar Market by Annual Installations; 2016-2020 (GWDC)
Figure 16: Rest of The US Residential Solar Market by Value; 2020-2025 (US$ Billion)
Figure 17: The US Solar Workforce; 2016-2020
Figure 18: The US Percentage Change in Residential Solar PV Installed Price; Q2 2020 to Q2 2021 (Percentage, %)
Figure 19: The US Blended Average Solar PV Price, 2016-2020 (US$/Watt)
Figure 20: The US Residential Utility Bills; 2015-2021 (US$ Cents/kWh)
Figure 21: The US Loan Market Share; 2015-2025 (Percentage, %)
Figure 22: The US Federal Investment Tax Credit for Solar; 2017 - 2023 (Percentage, %)
Figure 23: The US Residential Solar Market Players by Research & Development (R&D) Expenses; 2018-2020 (US$ Million)
Figure 24: The US Residential Solar Players by Market Share; Q1 2020-Q4 2020 (Percentage, %)
Figure 25: Sunrun, Inc. Revenue; 2016-2020 (US$ Million)
Figure 26: SunPower Corporation Total Revenue; 2016-2020 (US$ Billion)
Figure 27: SunPower Corporation Total Revenue by Segments; 2020 (Percentage, %)
Figure 28: Tesla, Inc. Total Revenues; 2016-2020 (US$ Billion)
Figure 29: Tesla, Inc. Total Revenues by Segments; 2020 (Percentage, %)
Figure 30: Tesla, Inc. Total Revenues by Region; 2020 (Percentage, %)
Table 1: Panel Type, Efficiency and Average Costs
Table 2: The US Residential Solar Market Players: A Financial Comparison; 2020
