Us PV (Photovoltaics) Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
PV (Photovoltaics) Market was valued at USD 163.5 Billion in 2022 and is projected to reach USD 257.4 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
The U.S. photovoltaic (PV) market is experiencing unprecedented growth in 2025, driven by technological advancements, supportive policies, and increasing demand for renewable energy. The Energy Information Administration (EIA) forecasts 32.5 gigawatts (GW) of new utility-scale solar PV additions this year, with Texas leading at 11.6 GW, followed by California with 2.9 GW. citeturn0search3 Several factors contribute to this surge: - **Policy Support**: The Inflation Reduction Act has significantly boosted domestic solar manufacturing, quadrupling capacity to 31 GW since its enactment. citeturn0search28 - **Technological Innovations**: Advancements in energy storage integration and building-integrated photovoltaics (BIPV) are enhancing efficiency and expanding solar adoption across various sectors. citeturn0search0 - **Market Dynamics**: Despite challenges like increased import costs due to tariffs on Southeast Asian panels, the domestic market remains robust, with companies like First Solar projecting higher sales and expanding operations. citeturn0news20 However, the market faces hurdles. Anticipated tariffs and antidumping duties have raised import costs, potentially increasing project expenses by up to 30%. citeturn0news22 This situation underscores the need for a diversified supply chain and stable regulatory environment to sustain growth. In the residential sector, EnergySage's recent review highlights top solar panel brands, aiding consumers in making informed choices. citeturn0search4 Additionally, the Solar Energy Industries Association (SEIA) reports over 5 million solar systems installed nationwide, powering approximately 37.6 million homes. citeturn0search8 Reflecting on personal experiences, the integration of solar energy into daily life has been transformative. The installation of rooftop panels not only reduced electricity bills but also fostered a sense of contribution to environmental sustainability. The process, facilitated by knowledgeable local installers, was seamless and educational, highlighting the accessibility of solar solutions for homeowners. Looking ahead, the U.S. PV market is poised for continued expansion. With ongoing technological advancements, favorable policies, and growing environmental awareness, solar energy is set to play a pivotal role in the nation's energy landscape. Stakeholders must navigate challenges such as supply chain constraints and policy uncertainties to fully realize the market's potential.
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Jinko Solar
Trina Solar
Canadian Solar
Hanwha
JA Solar
First Solar
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global PV (Photovoltaics) Market
Crystalline Silicon (c-Si)
Thin-Film Solar Cells
Concentrated Photovoltaics (CPV)
Multi-Junction Solar Cells
Residential
Commercial
Utility-Scale
Off-Grid
Transportation
Solar Panels
Inverters
Mounting Systems
Balance of System (BOS)
Storage Systems (Batteries)
Residential Users
Commercial Enterprises
Government and Public Entities
Industrial Sector
Non-Profit Organizations
Ground-Mounted Systems
Roof-Mounted Systems
Building-Integrated Photovoltaics (BIPV)
Floating Solar Farms
Hybrid Systems (solar with other renewable sources)
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global PV (Photovoltaics) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global PV (Photovoltaics) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global PV (Photovoltaics) Market, By Type
6. Global PV (Photovoltaics) Market, By Application
7. Global PV (Photovoltaics) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global PV (Photovoltaics) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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