United States Solar Panel Market

United States Solar Panel Market Size, Trends, Forecast 2025-2033

The Reports and Insights, a leading market research company, has recently releases report titled “United States Solar Panel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033.” The study provides a detailed analysis of the industry, the report also includes competitor and regional analysis and highlights the latest advancements in the market. The United States Solar Panel Market was valued at US$ 38.2 Million in 2024 and is expected to register a CAGR of 13.5% over the forecast period and reach US$ 105.3 Million in 2033.

United States Solar Panel Market Overview

The solar panel market in the United States has grown from a niche option to a significant part of the energy mix. PV systems are now widely employed in residential and commercial and utility-scale projects. The popularity of solar energy has surged on account of escalating energy costs, climate change, and a push to use renewable energy.  Due to better efficiency and declining costs, use is growing well beyond traditionally sunny states.

The U.S. solar industry has experienced massive growth, thanks in large part to private investment and government incentives. Manufacturers, domestic and international, compete on the grounds of efficiency, durability, service. Rooftop systems for residences, solar systems for businesses, large utility-scale solar farms. Federal tax credit, state rebate and net metering policy have been important in expansion. People have also adopted solar power more easily thanks to financing models like leasing and community solar.

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United States Solar Panel Market Growth Factors & Challenges

Several factors are driving the growth of solar panel market in the United States. Around the world there is a continuous decrease in the cost of solar components and installation, making it cheaper than ever for homeowners and businesses alike. Two types of tax credits and rebate programs are out their governments. As climate change and greenhouse gases becomes more urgent issue, consumers, companies and cities move to solar energy. Moreover, the increasing popularity of electric cars and the rise of smart home technology has caused further interests in home solar systems and battery storage. Utility firms are enhancing their solar investments as part of long-term plans to cut down carbon emissions and enhance energy grid efficiency.

Even with advances in technology, the U.S. solar panel market has challenges. Due to trade tariffs on imported panels as well as on key components, costs have increased and supply chains have been disrupted.  The industry also gets many of its raw materials – polysilicon, rare earths etc.  from outside the country, raising questions about supply security and sustainability in the long run. Solar power energy can be utilized immediately, stored in batteries for later use or fed into the electricity grid available for general consumption. In many regions, long permitting timelines, connection delays, and the lack of qualified workers can delay new installations and raise costs on projects.

Key suggestions for the report:

• Monocrystalline silicon solar panels are expected to account for the largest revenue share in the U.S. solar panel market. This is due to their high efficiency, superior performance in low-light conditions, and long operational lifespan. Made from single-crystal silicon, these panels enable greater energy output and are expected to remain the preferred choice over polycrystalline and thin-film alternatives.

• The residential segment is expected to lead the market by end use, driven by rising electricity prices, increasing demand for energy independence, and supportive federal and state incentives such as tax credits and rebates. As installation costs continue to decline and financing options like solar loans and power purchase agreements become more accessible, residential adoption is expected to grow steadily.

• Rooftop installations are expected to dominate by installation type, benefiting from their cost-effectiveness and use of existing infrastructure. These systems are likely to remain popular among homeowners and businesses seeking long-term energy savings and reduced reliance on traditional energy sources.

• Regionally, the Western U.S., particularly California, is expected to maintain its lead due to abundant sunlight, strong environmental policies, and state-level incentives. The Northeast, with states like New York and Massachusetts, is expected to see rapid growth driven by high electricity costs and aggressive renewable energy goals. The South, especially Texas and Florida, is projected to emerge as a major solar market due to high solar exposure and a focus on lowering energy costs. The Midwest, including states like Illinois and Michigan, is also expected to expand its solar footprint through increasing regulatory support and incentive programs.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the United States solar panel market share.

Key Trends in Canada Wastе Managеmеnt Industry

Evolving trends are changing solar sector in the USA.  Solar panels are branded as bifacial and include perovskite-based cells that offer better performance. It is technological innovation. Numerous new systems are being linked with energy storage, allowing customers to store backup power for later use. Interest in decentralized energy systems like microgrids and virtual power plants is on the rise; they improve energy resilience and reduce reliance on larger infrastructure. Home integration with smart home platforms is gaining ground, enabling homeowners to manage their solar production, battery storage and electric vehicle charging from connected devices. Big companies are investing more in solar power now than before. Many companies are signing long-term energy procurement contracts. Others are developing on- site renewable generation resources.

United States Solar Panel Market Key Applications & Industry Segments

The United States solar panel market is segmented by type, pesticide type, end user, Installation type, and country.

By Type

• Monocrystalline Silicon Solar Panels

• Polycrystalline Silicon Solar Panels

• Thin-Film Solar Panels

• Bifacial Solar Panels

• Others

By End Use

• Residential

• Commercial

• Industrial

• Utility-Scale

By Installation Type

• Rooftop Solar Installations

• Ground-Mounted Solar Installations

By Country

• West Region

• Southeast Region

• Southwest Region

• Northeast Region

• Midwest Region

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These Companies Include:

Some of the key manufacturers which are included in the United States solar panel market report are:

• First Solar

• SunPower

• Suniva

• 1Soltech

• Sharp

• Alps Technology

• Advance power

• Auxin solar

• BORG Inc.

• Pionis Energy

• Solar Mounts LLC

• Kasselman Solar

• EnergySage, Inc.

• Solar Power World

• Portable Sun LLC.

• Thornova

Key Attributes

Report Attributes

Details

No. of Pages

178

Market Forecast

2025-2033

Market Value (USD) in 2024

38.2 million

Market Value (USD) in 2033

105.3 million

Compound Annual Growth Rate (%)

13.5%

Regions Covered

United States

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