The residential solar PV segment is witnessing a period of fast growth, driven by a combination of an increasingly favorable regulatory climate, higher electricity prices, and concerns over climate change. The restraints that have held the industry back, primarily delays in approvals, have grown weaker, as governments gradually tackle these issues. The uptake of battery storage systems will be pivotal to PV industry growth in the future, as households with battery storage solutions can significantly increase their self-consumption of electricity and further mitigate higher energy costs.
• This analysis highlights the main drivers and restraints and their relative strengths. Profiles of key countries (a relatively small number of country segments still account for a significant percentage of the total segment) offer a clear picture of the status, the growth accelerators and challenges, and the industry potential.
• In addition, countries are ranked, based on criteria, such as policy support, incentives, and accessibility.
• Growth opportunities for active industry participants and new entrants are also identified.
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