Australia Rooftop Solar Market Size (2024 - 2029)

The Australian industrial solar rooftop market is poised for growth, driven by factors such as decreasing costs of solar PV and related equipment, alongside an increase in rooftop solar installations. Despite challenges like limited awareness, high electricity storage costs, and competition from other clean energy sources, the market has rebounded to pre-pandemic levels. The anticipated expansion of solar power's share in Australia's electricity grid presents future opportunities for the market.

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Market Size of Australia Rooftop Solar Industry

Australia Rooftop Solar Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 9.00 %
Market Concentration Low

Major Players

Australia Rooftop Solar Market Major Players

*Disclaimer: Major Players sorted in no particular order

Australia Rooftop Solar Panel Market Analysis

The Australian rooftop solar market is expected to register a CAGR of more than 9% during the forecast period.

The outbreak of COVID-19 negatively impacted the market. Currently, the market has reached pre-pandemic levels.

  • Factors such as declining solar PV and associated equipment costs and increasing rooftop solar installations are expected to be significant drivers for the market.
  • However, a lack of general awareness, the high cost of electricity storage, and competition from alternative clean energy sources are expected to hinder the market's growth during the forecast period.
  • Australia is expected to have the highest share of solar power, with nearly 40% of the electricity grid, by 2050, which is expected to provide opportunities in the Australian solar rooftop market in posterity.

Australia Rooftop Solar Panel Industry Segmentation

Solar is one of the renewable energy sources that generate electricity through the sun. The Australia Rooftop Solar energy market is segmented by end-user. By end-user, the market is segmented into residential and commercial and industrial (C&I). For each segment, the market sizing and forecasts have been done based on installed capacity (megawatts).

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Australia Rooftop Solar Market Size Summary

The Australian industrial solar rooftop market is poised for significant growth, driven by declining costs of solar photovoltaic (PV) systems and increasing electricity prices. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue expanding. Key factors propelling this growth include the widespread adoption of rooftop solar installations across residential and commercial sectors, with Australia being a leader in solar PV adoption. The residential segment, in particular, dominates the market, supported by government initiatives such as the solar credit scheme, which offers financial incentives for solar system installations. Despite challenges like limited awareness and competition from other clean energy sources, the market's potential remains robust, with opportunities for further expansion in the coming years.

Australia's commitment to increasing its solar power share in the electricity grid, projected to reach a substantial percentage by 2050, underscores the long-term viability of the rooftop solar market. The eastern states, including Queensland, New South Wales, South Australia, and Western Australia, are at the forefront of installations, contributing significantly to the country's solar capacity. The market is moderately fragmented, with key players like Risen Energy Co. Ltd, Trina Solar, and Tindo Solar actively participating. Innovations such as the deployment of advanced solar microinverters and large-scale projects like Australia's largest roof-mounted solar storage project highlight the dynamic nature of the industry. As the cost of solar PV continues to decline, the market is expected to experience sustained demand, driven by both economic and environmental considerations.

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Australia Rooftop Solar Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Rooftop Solar Installed Capacity and Forecast in MW, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION - BY END USER

    1. 2.1 Residential

    2. 2.2 Commercial and Industrial (C&I)

Australia Rooftop Solar Market Size FAQs

The Australia Rooftop Solar Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Energy Matters, GEM Energy, Tindo Solar, Trina Solar and Risen Energy Co., Ltd. are the major companies operating in the Australia Rooftop Solar Market.

Australia Rooftop Solar Panel Market Report Snapshots

Australia Industrial Solar Rooftop Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)