Solar Power Market in the US to Post an Accelerating CAGR of Nearly 10%
8minutenergy Renewables LLC, Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., First Solar Inc., and M. A. Mortenson Co. are some of the key vendors discussed in the research report
Favorable government regulations is one of the key factors likely to drive market growth. The investment tax credit (ITC) is an important federal policy developed to support the adoption of solar PV energy in the country. According to the new legislation passed in December 2020, ITC provides 26% tax credit for solar PV systems to be installed during 2020-2022 and 22% for systems to be installed in 2023. The implementation of this policy will encourage manufacturers to invest in R&D activities to develop cheaper and more reliable solar PV, which will propel the growth of the solar power market in the US during the forecast period. The emergence of zero-energy buildings is another factor supporting the solar market growth in the US. The Global Solar power market in US is expected to grow by 13.55 GW, accelerating at a CAGR of 9.69% till 2025.
This research report analyses all the growth drivers that are likely to boost market growth along with market trends. The report also assesses the market segments and regional segments to provide a comprehensive analysis of the market in focus. The purpose of this research report is to create a 360-degree view of the market for our clients. The key takeaways from this report will equip our client with clear insights to strategize future growth plans.
Request for our free sample report for more market insights:
Solar Power Market in US : Segments and Geographical Regions
- This report segments the market Technology (Photovoltaic systems and Concentrated solar power systems) and Application (Utility, Residential, and Commercial).
- This research report will provide insights into the current market share of each segment along with growth projections for the next five years. Request our Free Sample Report
Solar Power Market in US : Vendor Analysis
- The market is fragmented due to the presence of several players.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- 8minutenergy Renewables LLC, Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., First Solar Inc., M. A. Mortenson Co., Nextera Energy Inc., SOLV Energy, and SunPower Corp. are some of the major market participants.
Browse through some of other related market research reports for more insights:
- Solar Energy Market in Czech Republic: Decelerating at a CAGR of 6.45%, the solar energy market in Czech Republic is expected to post an incremental growth of 1.74 TWh units over the next five years.
- Solar Energy Market in Argentina: Decelerating at a CAGR of 70.64%, the Global Solar energy market in Argentina is expected to grow by 53.73 TWh units during the forecast period.
- Solar Photovoltaic Services Market: Technavio’s Solar Photovoltaic Services Market is set to grow by $ 13.66 bn, and the market will be progressing at a CAGR of 16.64% till 2025.
- Smart Buildings Market: Accelerating at a CAGR of 13.36%, the smart buildings market is expected to post an incremental growth of $ 64439.57 million over the next five years.
Key Focus Areas in our Report:
Market Segmentation by Technology
-
- Solar Power Market in US Split by Technology
- Photovoltaic systems
- Concentrated solar power systems
- Solar Power Market in US Split by Application
- Utility
- Residential
- Commercial
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- 8minutenergy Renewables LLC
- Abengoa SA
- Acciona SA
- BrightSource Energy Inc.
- Canadian Solar Inc.
- First Solar Inc.
- M. A. Mortenson Co.
- Nextera Energy Inc.
- SOLV Energy
- SunPower Corp.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations. For more insights on this market: Download a Free Sample Report
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 9.69%.
- What is the incremental growth of the market?
The market is expected to grow by 13.55 GW through 2022-2026.
- What is a key factor driving this market?
Favorable government regulations will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
US is the key region featured in this research report.
- Who are the leading market vendors?
The leading vendors in this market are 8minutenergy Renewables LLC, Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., First Solar Inc., M. A. Mortenson Co., Nextera Energy Inc., SOLV Energy, and SunPower Corp.
- What are the market segments covered in this report?
The market is segmented by Technology (Photovoltaic systems and Concentrated solar power systems) and Application (Utility, Residential, and Commercial)
