Market Analysis Report U.S. Solar Panel Market | Page 2

Your Catalyst to a Lucrative Business
Browse Details of Report @ https://www.hexaresearch.com/research-report/us-solar-panel-market
California holds the largest market share in the U.S. solar panel market. However, there is continuous
expansion in markets like Florida, Texas, Utah, and Minnesota. Falling prices are attracting new
entrants in the solar industry. These players are expected to acquire a larger market share in future.
Furthermore, increasing environmental awareness and innovative technologies to suit rugged terrain
and weather are luring customers toward solar energy. This factor is expected to drive the U.S. solar
panel market over the forecast period.
Moreover, increasing adoption by educational institutes is expected to drive the industry in future. For
instance, more than 5,500 K-12 schools in U.S. have installed solar energy systems until now. Rising
efforts from organizations such as the Solar Energy Industries Association (SEIA) are aiding the
regional solar sector. SEIA is a trade association that supports free and fair trade of solar equipment.
Government initiatives such as solar investment tax credit has resulted in increased sales of solar
panel systems over the past decade. Government reforms are expected to drive the U.S. solar panel
industry in the forthcoming years. For instance, in 2018, the government imposed a 30% tax on solar
panels and cells imported into U.S. This policy is framed to encourage local manufacturing and to
boost the regional solar panel market.
Major players in the U.S. solar panel market include Trina Solar, JinkoSolar, Canadian Solar, Suniva,
and SolarWorld. Trina Solar is the leading player, followed by JinkoSolar.
Segmentation by product type, 2015 - 2025 (USD Billion)
• Solar Tracking Panel
• Fixed Rack Panel
Segmentation by end use, 2015 - 2025 (USD Billion)
• Residential
• Idustrial
Key players analyzed:
• Trina Solar
• Jinko Solar
• Canadian Solar Inc.
• Itek Energy
• Solaria
Follow Us: