Solar roofing is a collection or an arrangement of solar panels in a grid structure, which is designed to with the use of usual roofing materials such as asphalt shingle or slate. It produces renewable energy that accounts for minimum of 2.5 percent of the total electric energy which is used by building solar roofing system. Some of the major benefits of using a clean form of energy generation include increase in facility value, building owners which have a significant ROI and the energy production from during peak energy demand times.
According to study, “Global Solar Roofing Market Size study, by Type (On-Grid Type, Off –Grid type, Hybrid, Grid-interactive), by Application (Commercial, Industrial, Residential, Energy consumers) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global solar roofing market are Tata power solar systems, Jaksons engineers, Hero future energies, DRI Energy, Applied Solar, Inc., CleanMax solar, UNI Solar, SOLON India, Thermax Ltd., SMA Solar Technology AG, JA Solar Holdings Co., Ltd., Canadian Solar Inc., Aesthetic Green Power, SunTegra Solar Roof Systems, KEC International, Solengy Corp., Atlantis energy systems, 3 in 1 Roof, ABB Ltd., RelyOn Solar, Shunfeng International Clean Energy Limited, Navitas Green Solutions Pvt. Ltd. (Navitas Solar), Fourth partner energy, Solar Energy Corporation of India (SECI), Trina Solar, Forward Labs, Elecomponics Technologies India Pvt Ltd, PV Technical Services, LUMA Resources, Cleantech Solar Energy (India) Pvt. Ltd., Saint-Gobain, Mercom Communications India, Delta Energy Systems, Yingli Green Energy Holding Company Limited, Real Goods Solar (RGS Energy), Standard Industries, Tesla. The companies competing each other for the centered on price, brand, quality, product differentiation & product portfolio are increasingly emphasizing on product customization through consumer interaction.
Based on the type, the global solar roofing market is segmented into on grid type, off grid type, hybrid type and grid interactive type. Based on the capacity, market is divided into Upto 10 kW, 11 kW- 100 kW, and more than 100 kW. Based on application, market is segmented into industrial, energy consumers, commercial and residential.
The global solar roofing market is mainly driven by the rising consumption of electricity, followed by provision of government inducements and tax rebates to install the solar panels, with the decrease in footprint (associated with solar energy systems), growing demand of solar systems in the residential application, followed by the growing concern towards environment safety. Apart from the advantages some of the major restraint factors include lack of the availability of space and high cost of solar panels (power conversion devices, storage and installation). In addition to the declining costs of solar systems and energy storage devices, with the increased demand in the developing economies, with mounting prices of fossil fuels are adding to the biggest opportunities for the market.
Latin America and African region accounted for the major share in the global solar roofing market. In addition to this the emerging economies such as Japan and China in Asia-Pacific region have extensively increased the production of solar panels owing to the merger and the acquisition of local manufacturers and governmental tariffs. Furthermore, Europe and North American region have focused on research to exploit the solar potential. Moreover the Middle East & African region gained traction due to increase in demand of renewable source of energy for power generation, architecture and agriculture applications.
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Ankur Gupta, Head Marketing & Communications