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Showing posts with the label U.S. Residential Solar PV Market

U.S. Residential Solar PV Market size is expected to reach USD 14.1 billion by 2028

  U.S. Residential Solar PV Industry Overview The U.S. residential solar PV market size was estimated at USD 9.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2028. The market is driven by the presence of favorable policies and regulations for net metering and financial incentives such as Investment Tax Credit (ITC) in the U.S.   Decrease in solar PV (photovoltaic) installation costs in the last decade has resulted in high growth of solar PV in the U.S. Further, the presence of easy solar financing options provides a number of options for residential end-users to choose from, which has propelled the growth of the market.   The rise in environmental concerns regarding the increase in carbon emissions owing to the usage of conventional fuels for transportation and power generation purposes has prompted countries around the world to opt for cleaner and efficient sources of power. Furthermore, t...