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On-Grid Solar PV Market Growth Potential: How Will Market Size Shift Through 2030?
The on-grid solar pv market has experienced consistent growth over recent years. Projections indicate a rise from $178.12 billion in 2025 to $185.89 billion by 2026, demonstrating a compound annual growth rate (CAGR) of 4.4%. Historically, this expansion has been driven by factors such as the decreasing cost of PV modules, governmental incentives alongside feed-in tariff programs, the rapid uptake of rooftop solar initiatives, enhancements in inverter efficiency and dependability, and the broadening of solar manufacturing capabilities.
The on-grid solar pv market size is anticipated to experience consistent expansion over the upcoming years. Its valuation is projected to reach $221.95 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 4.5%. This growth during the forecast period is primarily driven by rising renewable energy targets across various countries, the increasing adoption of energy storage with on-grid solar systems, a surge in corporate power purchase agreement (PPA) based solar procurement, the modernization of grid infrastructure to support distributed generation, and escalating electricity demand from EV charging. Significant trends expected during this period include the rising integration of smart monitoring in on-grid solar systems, the growing deployment of rooftop grid-tied installations, the expanded utilization of utility-scale solar for grid stability, the broadening of financing models for residential solar, and advancements in hybrid solar-plus-storage solutions.
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On-Grid Solar PV Market Growth Momentum: What Factors Are Shaping Demand?
The escalating demand for renewable energy is anticipated to drive the expansion of the on-grid solar PV market moving forward. Renewable energy refers to sustainable, naturally replenished, and environmentally friendly power sources like solar, wind, hydro, and geothermal. Increasing public awareness regarding environmental issues and a growing preference for sustainable living are contributing to the demand for on-grid solar PV systems. These systems play a crucial role in renewable energy production by generating power from solar panels and feeding it directly into the grid. This process helps decrease the grid’s susceptibility to centralized disruptions, thereby enhancing overall grid reliability. For instance, in January 2024, the International Energy Agency, a France-based government agency, reported that renewable electricity capacity additions reached an estimated 507 GW in 2023, marking an almost 50% increase compared to 2022, with solar PV and wind accounting for a record 96% of this figure. Consequently, the rising demand for renewable energy is a primary driver for the growth of the on-grid solar PV market.
On-Grid Solar PV Market Segment Trends And Revenue Contributors
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
On-Grid Solar PV Market Industry Trends: What’s Reshaping Demand?
Leading companies active in the on-grid solar PV market are developing advanced technological products, such as on-grid PV (photovoltaic) inverters, to boost their earnings in the market. An on-grid PV inverter is an essential element of a solar energy system that converts the variable direct current (DC) output from a photovoltaic solar array into alternating current (AC) electricity, which can then be fed directly into the electrical grid. For instance, in June 2023, Solinteg, a China‑based renewable energy solutions company, launched the Integ O Series three‑phase 4‑25 kW on‑grid inverter. This inverter features a maximum conversion efficiency of 98.6%, supports up to three MPPTs (Maximum Power Point Trackers) for improved solar array performance, and has a low startup voltage of 180 V to extend operational hours in varied light conditions.
On-Grid Solar PV Market Competitive Landscape: Which Companies Lead The Industry?
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 Regional Breakdown: Where Is Demand Concentrated?
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.
