Delivering more actionable and strategically valuable research, The Business Research Company’s 2026 market reports feature market attractiveness analysis, total addressable market evaluation, company benchmarking matrices, interactive Excel dashboards, expanded supply chain intelligence, emerging startup coverage, and detailed product insights.
On-Grid Solar PV Market Size, Value And Growth Trends Through 2030
The on-grid solar pv market size has experienced steady expansion in recent years. Projections indicate it will reach $185.89 billion in 2026 from $178.12 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 4.4%. Key drivers for this historical growth include the reduction in PV module costs, government incentives and feed-in tariff schemes, the early uptake of rooftop solar initiatives, improvements in inverter efficiency and reliability, and the growth in solar manufacturing capacity.
The on-grid solar pv market size is projected to experience consistent expansion over the upcoming years. By 2030, this market is anticipated to reach $221.95 billion, expanding at a compound annual growth rate (CAGR) of 4.5%. This projected growth is driven by several factors, including the escalating renewable energy goals globally, the increased integration of energy storage systems with on-grid solar setups, the expansion of corporate power purchase agreement (PPA) based solar acquisition, enhancements in grid infrastructure to support distributed generation, and the growing electricity needs for EV charging. Key trends anticipated during this period involve the greater incorporation of smart monitoring within on-grid solar systems, the increasing rollout of rooftop grid-connected installations, wider implementation of utility-scale solar projects to enhance grid stability, the broadening of financing options for home solar solutions, and innovations in combined solar and storage technologies.
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On-Grid Solar PV Market Growth Drivers: What Factors Are Accelerating Expansion?
The increasing need for renewable energy 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 like 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 heightened demand for on-grid solar PV systems. These systems are crucial for generating renewable energy by creating power with solar panels and feeding it directly into the grid, which enhances overall grid reliability by lessening its susceptibility to centralized outages. As an illustration, in January 2024, the International Energy Agency, a governmental body located in France, reported that renewable electricity capacity additions were approximately 507 GW in 2023, a nearly 50% increase from 2022, with solar PV and wind making up an unprecedented 96% of this total. Consequently, the growing demand for renewable energy is fueling the expansion of the on-grid solar PV market.
On-Grid Solar PV Market Segment Landscape: Which Areas Lead Market Development?
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 Transformation Trends: Which Innovations Are Driving Change?
Leading companies in the on-grid solar PV market are innovating products with cutting-edge technologies, such as on-grid PV (photovoltaic) inverters, to increase their market revenues. An on-grid PV inverter, a vital component of a solar energy system, converts the variable direct current (DC) output from a photovoltaic solar array into alternating current (AC) electricity, which can be directly fed into the electrical grid. For instance, in June 2023, Solinteg, a China-based renewable energy solutions company, unveiled the Integ O Series three-phase 4-25 kW on-grid inverter. This inverter achieves a maximum conversion efficiency of 98.6%, accommodates up to three MPPTs (Maximum Power Point Trackers) for improved solar array performance, and includes a low startup voltage of 180 V to extend its operational hours in diverse light conditions.
On-Grid Solar PV Market Industry Leaders And Market Competition
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 Leading Geography: Which Region Generates The Most Revenue?
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.