With a focus on actionable insights and strategic value, The Business Research Company’s 2026 market reports include market attractiveness scoring, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, deeper supply chain intelligence, emerging startup tracking, and granular product-level insights.
On-Grid Solar PV Market Size Analysis: Historical Growth And Future Revenue Projections
The on-grid solar pv market size has seen steady expansion in recent years. It is anticipated to expand from $178.12 billion in 2025 to $185.89 billion in 2026, at a compound annual growth rate (CAGR) of 4.4%. This historic growth can be attributed to several factors including the declining cost of PV modules, government-backed incentives and feed-in tariff schemes, the early adoption of rooftop solar programs, improvements in inverter efficiency and reliability, and the expansion of solar manufacturing capacity.
The on-grid solar PV market is anticipated to experience consistent expansion over the upcoming years. This market is projected to reach $221.95 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5%. Factors contributing to this growth during the projection period encompass escalating renewable energy objectives globally, greater integration of energy storage alongside on-grid solar, an increase in corporate power purchase agreement (PPA) based solar acquisition, enhancements to grid infrastructure to support distributed generation, and increased electricity consumption from electric vehicle charging. Key trends anticipated during the forecast period involve the expanding incorporation of smart monitoring within on-grid solar setups, the growing installation of rooftop grid-connected systems, broader utilization of utility-scale solar to enhance grid stability, the broadening of funding options for residential solar projects, and improvements in hybrid solar-plus-storage technologies.
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On-Grid Solar PV Market Drivers: What Is Fueling Demand Through 2030?
The increasing need for renewable energy sources is anticipated to drive the expansion of the on-grid solar PV market in the future. Renewable energy encompasses sustainable and eco-friendly power sources, including solar, wind, hydro, and geothermal, which naturally renew themselves. Heightened public consciousness regarding environmental concerns and a growing preference for sustainable lifestyles contribute to the escalated demand for on-grid solar PV systems. These systems play a crucial role in generating renewable electricity by harnessing solar panels to create power and feeding it directly into the grid. This process aids in diminishing the grid’s susceptibility to centralized outages, thereby enhancing its overall reliability. For example, the International Energy Agency, a government organization based in France, reported in January 2024 that renewable electricity capacity additions were approximately 507 GW in 2023, which was nearly 50% greater than in 2022, with solar PV and wind making up a record 96% of this total. Consequently, the expanding demand for renewable energy is stimulating the growth of the on-grid solar PV market.
On-Grid Solar PV Market Segmentation Analysis: Core Categories And Subcategories
The on-grid solar pv market covered in this report is segmented –
1) By Technology: Monocrystalline Silicon, Thin Film, Polycrystalline Silicon, Other Technologies
2) By Installation: Ground Mounted, Rooftop, Other Installations
3) By Application: Residential, Non-Residential, Utilities
Subsegments:
1) By Monocrystalline Silicon: PERC (Passivated Emitter Rear Cell) Technology, Bifacial Monocrystalline Panels
2) By Thin Film: Cadmium Telluride (CdTe), Amorphous Silicon (a-Si), Copper Indium Gallium Selenide (CIGS)
3) By Polycrystalline Silicon: Standard Polycrystalline Panels, Bifacial Polycrystalline Panels
4) By Other Technologies: Heterojunction Technology (HJT), Organic Photovoltaics (OPV), Perovskite Solar Cells
Which Trends Will Define The On-Grid Solar PV Market Through 2030?
Major companies operating within the on-grid solar PV market are developing innovative products with advanced technologies, such as on-grid PV (photovoltaic) inverters, to increase their revenues. An on-grid PV inverter is an essential part of a solar energy system, tasked with transforming a photovoltaic solar array’s variable direct current (DC) output into alternating current (AC) electricity that can be supplied directly into the electrical grid. For instance, in June 2023, Solinteg, a China-based renewable energy solutions company, introduced the Integ O Series three-phase 4-25 kW on-grid inverter. This inverter offers a maximum conversion efficiency of 98.6%, supports up to three MPPTs (Maximum Power Point Trackers) for improved solar array performance, and features a low startup voltage of 180 V to extend operational hours in changing light conditions.
On-Grid Solar PV Market Major Companies And Industry Participants
Major companies operating in the on-grid solar pv market are Huawei Technologies Co. Ltd., L&T Electrical & Automation Ltd., Siemens AG, Schneider Electric SE, ABB Ltd., JA SOLAR Technology Co. Ltd., LONGi Green Energy Technology Co. Ltd., Delta Electronics Inc., Trina Solar Limited, JinkoSolar Holding Co. Ltd., Canadian Solar Inc., Omron Corporation, Chint Group Corp., Sungrow Power Supply Co. Ltd., Risen Energy Co. Ltd., SolarEdge Technologies Inc., First Solar Inc., Havells India Ltd., SunPower Corp., SMA Solar Technology AG, GoodWe (Jiangsu) Power Supply Technology Co. Ltd., Enphase Energy Inc., Ginlong (Solis) Technologies, Motech Industries Inc., Indosolar Ltd., Loom Solar Pvt. Ltd., FIMER S.p.A., GCL System Integration Technology Co. Ltd.
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On-Grid Solar PV Market Geographic Analysis: Which Region Accounts For The Biggest Share?
Asia-Pacific was the largest region in the on-grid solar PV market in 2025. The regions covered in the on-grid solar pv market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
