CLEVELAND, March 7, 2022 /PRNewswire/ — New Freedonia Group analysis of the U.S. solar rooftop market forecasts triple-digit demand growth in the South through 2025, when the region will overtake the Northeast as the second-largest regional market for solar roofs after the West, which represents 7% of sales. Progress will be supported by the sunnier (and therefore more favorable) climate of the South for solar power generation and the increasing availability of incentives in states – especially Delaware, Maryland, Floridaand the Carolinas – as well as localities (for example, Austin, TX; New Orleans, Louisiana).
Climate action plans boost solar installations, even in less sunny states
Solar power is expected to account for 6% of total electricity generation in the United States in 2030. Although more reliable and cost-effective in areas with high sun exposure (e.g., Arizona, California, Florida), solar power generation is also growing as a renewable complement to fossil fuels in the Northeast and Midwest, where a growing number of states and localities are offering incentives to install solar products to increase their energy mix. renewable energy sources. As more homeowners realize the benefits of installing solar products – including increased property values, improved energy efficiency and tax credits, rebates and other incentives – the penetration of solar roofs will increase in the commercial and residential rooftop markets.
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Solar roofnow available from The Freedonia Group, presents historical data for 2020 and forecasts for 2025 and 2030 for the demand for solar rooftops in the United States by value, area and rooftop electricity production (which includes at both solar panels and solar roofs) and for the regional demand for squares.
Solar roofing is defined as those products that serve as the primary roofing material for a structure while producing electricity generated by solar energy. The demand for solar rooftops is presented at the end-user level in terms of value (US dollars) and area (squares) by applications (new and retrofits), market (residential and commercial). Additionally, the demand for solar rooftop is broken down for the following U.S. geographic regions and sub-regions.
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SOURCE The Freedonia Group