Four new PV modules were launched by Japanese electronics giant Sharp for the rooftop solar industry and these comprise 2 bifacial modules with an output of up to 450W.
Rooftop solar power has emerged as one of the transformative energies since the world grapples with climate change and the urgent requirement for energy solutions. This market offers a significant opportunity to reduce carbon footprints, achieve energy independence and drive economic growth.
Solar rooftops render significant benefits which consist of increased property value, reduced electricity bills as well as environmental impact by lowering carbon footprints. Advances such as bifacial panels as well as integrated solar shingles improve efficiency. Homeowners can see reductions in energy bills, incentives or tax credits which can further offset the installation costs in terms of savings.
“There is currently a huge demand for dual glass modules for on-roof systems,” said Andrew Lee, vice president of commercial operations at Sharp Energy Solutions Europe.
“With the introduction of our new bifacial modules, we are reinforcing our commitment to sustainable energy solutions and offering our customers products that are pioneering in terms of both performance and aesthetics.”
In this article let us look into the potential of the rooftop solar market, key drivers as well as future opportunities.
A major driver of rooftop solar market growth includes technological advancement. What has led to enhanced efficiency as well as reduced costs are the innovations in photovoltaics. Modern roof solar panels are more durable, highly efficient as well as aesthetically pleasing than their predecessors. For example, bifacial solar panels that capture light on both sides and solar tiles which blend seamlessly with roofing materials are making rooftop solar installations highly appealing & more efficient.
Government policies & incentives are important to promote rooftop solar adoption. Most countries provide tax credits, subsidies as well as rebates to reduce the financial burden of instilling solar systems. Policies like net metering allow users to sell excess electricity back to the grid, and further improve the economic attractiveness of solar power. These supportive measures are highly crucial to accelerate the transition to solar energy, and expand the market reach.
The environmental benefits of rooftop solar are numerous and are well-documented. Solar energy is one of the clean, renewable resources which decrease greenhouse gas emissions & reduce dependence on fossil fuels. Furthermore, rooftop solar systems and roof with solar panels render economic benefits by lowering electricity bills, improving property values and creating numerous job opportunities in the solar market. Such advantages make rooftop solar as an attractive option for both businesses as well as individuals who seek to contribute to sustainable & economic development.
Rooftop solar is witnessing a surge in adoption in densely populated urban regions. Rooftop installations render a practical solution for clean energy generation, with limited space for ground-based solar farms. As part of their broader urban sustainability initiatives, governments and municipalities are promoting rooftop solar installations. Furthermore, industrial complexes, commercial buildings as well as large residential properties are now recognizing the environmental and financial benefits of generating their electricity from rooftop solar systems.
“Transition to solar energy has become imperative today. However, the way towards it is fraught with challenges as solar panel manufacturers are struggling with shortage of raw materials & increases in pricing. On the other hand, customers are expecting higher energy efficient solar panels with good performance from reputed suppliers,” says Sundeep Gupta, Vice Chairman & Managing Director, Jakson Group.
A recent trend in the solar industry is the use of floating solar installations, while rooftop solar systems are dominating the urban markets. These are built on water bodies which include lakes, ponds & reservoirs. Floating solar complements the complete solar market by rendering new installation opportunities in several areas where either the land or rooftop space is limited, although floating solar is not related to rooftops directly. This represents the broader push of the solar industry towards utilizing non-traditional spaces for energy generation.
In order to meet their sustainability goals, today corporations are increasingly adopting rooftop solar power. While enhancing their environmental credentials, the industrial & commercial sectors recognize the long-term financial benefits of generating their own solar power as well as decreasing energy costs. Large organizations which include Apple, Walmart & Google have set ambitious renewable energy targets and they are integrating rooftop solar into their business operations. As more enterprises pursue carbon neutrality, the trend of corporate solar adoption is anticipated to continue.
“The solar power industry is fraught with challenges, from ensuring quality and reliability to executing projects on time. Clients are constantly seeking topnotch installations delivered by dependable service providers,” says Navashil Sharma, CEO, Insolare Energy.
The rooftop solar market has huge potential for transforming the global energy landscape and the industry can unlock new opportunities by leveraging technological advancements, and supportive policies for sustainable energy generation. The continued growth of rooftop solar installations will play a significant role in achieving energy independence as the planet moves towards a greener future, decreasing environmental impact as well as driving economic development. Embracing the potential of rooftop solar is more about contributing to a more sustainable as well as resilient energy system for all rather than adopting a new technology.
Adoption rates for rooftop solar installations differ from region to region. Due to the early adoption as well as robust policy frameworks, several developed countries which include Germany, the US and Australia have high penetration rates. The emerging markets particularly in Africa and Asia, are witnessing an increase in rooftop solar installations since they look forward to enhancing energy access as well as decreasing reliance on fossil fuels. Hence, the trend towards surge in adoption is anticipated to continue and this is driven by technological advancements & economic incentives.
Over the past decade, the rooftop solar market has experienced exponential growth. Solar power has become one of the mainstream energy sources driven by technological advancements as well as supportive policies. The global rooftop solar market is anticipated to continue expanding with significant contributions from commercial, industrial as well as residential industries, as per reports. This growth is buttressed by reducing the costs of solar panels coupled with increasing awareness of environmental issues.
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