Spain Solar Rooftop Market Size, Share, and COVID-19 Impact Analysis, By Grid Type (Off-Grid and On-Grid), By End user (Commercial, Industrial, and Residential), and Spain Solar Rooftop Market Insights, Industry Trend, Forecasts to 2033

Spain Solar Rooftop Market Insights Forecasts to 2033

• The Spain Solar Rooftop Market Size was valued at USD 3.71 Billion in 2023.
• The Spain Solar Rooftop Market Size is growing at a CAGR of 8.83% from 2023 to 2033
• The Spain Solar Rooftop Market Size is expected to reach USD 8.65 Billion by 2033

The Spain Solar Rooftop Market Size is Anticipated to exceed USD 8.65 Billion By 2033, Growing at a CAGR of 8.83% from 2023 to 2033. The growing energy prices, government incentives, emphasis for sustainability & environmental awareness, and development in solar panel technology are driving the growth of the solar rooftop market in the Spain.     

Market Overview

The solar rooftop market refers to the industry encompassing the installation and operation of solar photovoltaic (PV) systems on rooftops for generating electricity from sunlight, reducing reliance on traditional grids, and promoting clean energy. A solar rooftop is a photovoltaic system that generates electricity using solar panels mounted on the roof of a commercial or residential building. With the declining solar panel costs and environmental awareness & sustainability, government incentives and policies favouring solar rooftop adoption support the use of solar rooftops. Advancement in energy storage, including battery technology for maximizing the benefits of solar rooftop systems and innovation in solar technology, is promoting the market growth of solar rooftops. Further, the integration of rooftop solar with urbanization offers a promising path toward sustainable and resilient urban development. Technological advancements in the field of solar cells for enhancing efficiency are expected to escalate market growth opportunities.

Report Coverage

This research report categorizes the market for the Spain solar rooftop market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Spain solar rooftop market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Spain solar rooftop market.

Driving Factors

The growing energy prices encourage the use of solar energy for generating electricity, thereby propelling the solar rooftop market demand. Further, the increasing government incentives like Next Generation EU funds that have provided subsidies to offset the initial costs of installing solar self-consumption are propelling the market. Further, the growing emphasis on sustainability & environmental awareness and development in solar panel technology are driving the solar rooftop market.

Restraining Factors

The regulatory uncertainty and issues related to grid connectivity are challenging market growth. Further, the high installation costs limit its adoption, thereby hampering market growth.

Market Segmentation

The Spain solar rooftop market share is classified into grid type and end user.

• The on-grid segment dominated the Spain solar rooftop market and is anticipated to grow at a significant CAGR during the projected period.

The Spain solar rooftop market is segmented by grid type into off-grid and on-grid. Among these, the on-grid segment dominated the Spain solar rooftop market and is anticipated to grow at a significant CAGR during the projected period. On-grid solar PV is connected to the local electricity grid, allowing excess solar energy to be sent back to the grid, providing energy credits or financial compensation through programs like net metering. The low cost and ability to sell excess energy back as well as ease of integration with the national grid, is propelling the market in the on-grid segment.

• The residential segment dominated the Spain solar rooftop market with a major market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

The Spain solar rooftop market is segmented by end user into commercial, industrial, and residential. Among these, the residential segment dominated the Spain solar rooftop market with a major market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The residential sector accounted for the majority of solar photovoltaic system installations, at almost 111,800. The increasing consumer need for energy independence and government incentives for installing solar systems for homes is promoting the market in the residential segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Spain solar rooftop market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Clidom SA
• X-ELIO Energy
• Rekoser
• Exiom Solution S.A
• Zytech solar
• Acciona SA
• Repsol SA
• Soltec Energias Renovables SL
• Gransolar Group
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2021, the New Spanish government granted support to the deployment of self-consumption solar projects that could result in 3.5GW of additional capacity, as trade association UNEF has suggested. The policy would allocate €200 million (US$243 million) in support for the residential sector and public administrations, €150 million for industry and the agricultural segment and €100 million for the services sector.

Market Segment

This study forecasts revenue at Spain, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Spain solar rooftop market based on the below-mentioned segments

Spain Solar Rooftop Market, By Grid Type

• Off-Grid
• On-Grid

Spain Solar Rooftop Market, By End user

• Commercial
• Industrial
• Residential