Favorable Climate & Expanding Incentives to Drive Rapid Solar Roofing Adoption in the US South
CLEVELAND, March 7, 2022 /PRNewswire/ — A new Freedonia Group analysis of the US solar roofing market forecasts triple-digit demand growth in the South through 2025, when the region will surpass the Northeast as the second leading regional market for solar roofing after the West, accounting for 7% of sales. Advances will be supported by the South’s sunnier (and thus more favorable) climate for solar-electric generation and the growing availability of incentives in states – particularly Delaware, Maryland, Florida, and the Carolinas – as well as localities (e.g., Austin, Texas; New Orleans, Louisiana).
Climate Actions Plans Boost Solar Installations, Even in Less Sunny States
Solar energy is expected to account for 6% of total US electricity generation in 2030. While most reliable and cost-effective in areas with abundant sunshine (e.g., Arizona, California, Florida), solar-electric generation is also increasing as a renewable supplement to fossil fuels in the Northeast and Midwest, where a growing number of states and localities offer incentives to install solar products to increase their mix of renewable energy sources. As more property owners become aware of the benefits of installing solar products – including increased property values, improved energy efficiency, and tax credits, rebates, and other incentives – penetration of solar roofing will increase in both commercial and residential roofing markets.
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Solar Roofing, now available from The Freedonia Group, presents historical data for 2020 and forecasts for 2025 and 2030 for US solar roofing demand in value, area, and roof-mount electricity generation (which includes both solar panels and solar roofing), and for regional demand in squares.
Solar roofing is defined as those products that serve as a structure’s primary roofing material while also producing solar-generated electricity. Demand for solar roofing is presented at the end user level in value terms (US dollars) and in area terms (squares) by applications (new and reroofing), market (residential and commercial). Additionally, solar roofing demand is broken out for the following US geographic regions and subregions.
About the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
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SOURCE The Freedonia Group
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