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U.S. Solar Panel Market Share, Size, Segmentaion, Outlook and
Forecasts to 2025 | Hexa Research
“ The U.S. solar panel market size is expected to reach USD 22.90 billion by
2025.”
15 January 2019
The U.S. solar panel market size is expected to reach USD 22.90 billion by 2025 as a result of increasing
demand from consumers owing to decreased installation cost of solar panel systems. Increasing
environmental awareness among customers is driving the adoption of cost-efficient renewable forms of
energy over conventional energy sources. The year 2016 witnessed a significant growth in number of
installations of solar panels in U.S. For instance, more than 11.8 GW of solar panels were installed in U.S. in
2016.
The residential segment witnessed sluggish growth in terms of installation of solar energy owing to
discrepancies in sales strategies such as high installation and maintenance costs. However, rising
development activities in Texas, Utah, Florida, and South California are expected to drive the segment over
the forecast period, thereby generating need for installation of renewable solar panel systems.
The concept of community solar panel systems is gaining popularity in U.S. This has increased off -site and
rooftop corporate procurement by companies such as Amazon, Apple, and Target. U.S. is the dominant
market for photovoltaic (PV) tracker systems, with NEXTracker and Array Technologies being leading players
in the region. In 2016, both companies collectively shipped more than 5 GW DC of PV tracker components.
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