GITNUX MARKETDATA REPORT 2024

Residential Solar Industry Statistics

The residential solar industry has experienced substantial growth in recent years, with an increasing number of households adopting solar energy to save money and reduce their carbon footprint.

Statistic 1

"The global residential solar energy market was valued at USD 13.42 billion in 2019."

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Statistic 2

"Residential solar capacity in the US reached over 15 gigawatts in 2019."

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Statistic 3

"The US residential solar industry grew by 11% in 2020."

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Statistic 4

"Australia has the highest residential solar panel use per capita in the world at 20-30%."

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Statistic 5

"In 2020, the residential solar industry in California installed over 3 gigawatts of solar power."

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Statistic 6

"The cost of residential solar panels has dropped 70% since 1998."

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Statistic 7

"More than 2 million homes in the United States now have solar installed."

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Statistic 8

"25% of all residential solar installations in the United States are in California."

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Statistic 9

"92% of all new residential solar capacity installed in the US in Q3 2020 was customer owned, rather than leased."

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Statistic 10

"Solar energy reduced electricity expenses of households by 50%."

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Statistic 11

"Residential solar provided 0.6% of total U.S. electricity generation in 2019."

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Statistic 12

"Solar power in the United States is expected to triple over next decade."

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Statistic 13

"Hawaii has the highest percentage of residential solar usage among U.S. states at 21%."

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Statistic 14

"Japan has over 8 million residential rooftop solar installations."

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Statistic 15

"73.4% of homeowners say the main reason to install residential solar is to save money on electricity bills."

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Statistic 16

"69% of all solar photovoltaics installed worldwide were solar panels."

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Statistic 17

"By 2024, global solar panel installations may exceed a total of 600 GW."

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Statistic 18

"There are over 75,000 working Americans in the residential solar industry."

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Statistic 19

"About 200,000 U.S. homes installed solar panels in 2020."

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