Renewable Energy is fastest growing segment fueling the growth of Home Solar System Market
The global Home Solar System Market is estimated to be valued at US$ 67.20 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Home solar systems allow homeowners to generate their own electricity by harnessing solar energy through solar panels installed on rooftops. Homeowners are able to sell excess power back to the utility grid or use it to power their homes. With growing awareness about climate change and environmental protection, people are increasingly adopting solar energy systems for their residential needs. Market Overview: Home solar systems consist of solar panels, mounting equipment, wiring and circuitry, batteries and inverters. These systems harness energy from the sun and convert it to electricity that powers appliances and other devices in homes. They help reduce dependence on fossil fuels and lower electricity bills by generating clean, affordable solar powe...