CLEVELAND, March 4, 2022 /PRNewswire/ — New analysis from the Freedonia Group predicts that the growing impact of solar-friendly policies in a growing number of states and localities across the United States will lead to rapid growth in the solar roof market until 2025, in particular in California:
- California further cemented its lead in the national solar rooftop market with the passage of two mandates in 2020 and 2021 requiring nearly all new residential and commercial buildings in the state to include solar products beginning in 2023.
- Although such mandates have already been adopted in cities such as San Francisco and South Miami, Floridait is the first mandate of its kind in the country to be adopted at the state level.
In addition to dramatically increasing solar rooftop sales in the state, the California the mandates are expected to influence other states to pass legislation favoring solar installations. Environment America, the organization that helped lead the California mandates, plans to launch similar campaigns in 10 additional states in 2022.
The U.S. solar rooftop market will grow from$50 million in 2020 at Almost $1 billion in 2025
The U.S. Solar Roofing Products Market is Expected to Grow Rapidly to 716,000 Squares, Valued at $965 million in 2025. In addition to the growing impact of pro-solar policies nationwide, factors supporting the long-term growth of solar roofing products include:
- increased awareness of the energy efficiency benefits of solar roof systems
- the attractive appearance of solar roofing compared to traditional solar panels (for example, solar roofing looks like traditional roofing materials)
- the growing availability, affordability, and accessibility of solar rooftop products (for example, Tesla expanded solar rooftop installations nationwide in 2021)
- expanding local, state, and federal incentives (e.g., tax credits, net metering benefits, rebates) to install solar roofing products
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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