Solar Panel Installation
The Solar Panel Installation industry consists of operators that primarily install solar panels as part of general residential and commercial contracting services. A strong expansion in corporate profit, broad economic improvements in the US economy and favorable investment tax credits have kept demand from the nonresidential segment high over the five years to 2019. With a lower price for solar panels, better quality and continued tax incentives, the overall cost of investment into solar power dropped markedly for potential consumers in the residential market. Amid reductions to favorable tax breaks for solar projects and increased tariffs on imported goods, industry revenue is expected to grow at a more subdued rate over the five years to 2024. However, given the rapid growth of this industry, revenue growth may outperform or underperform projections depending on several compounding variables, such as the price of traditional energy sources and possible changes to energy policies.
Industry operators install solar panels as part of general residential and commercial contracting services. These companies are contracted by a homeowner, a solar panel manufacturer or by solar marketing firms that arrange a buyer for solar panels and contract an operator to carry out the work. Installations of commercial-grade solar power grids are excluded from this report (IBISWorld report OD4493), as are solar thermal systems that lack photovoltaic panels.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook