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Market Overview:
North America Solar Photovoltaic Market size is estimated to reach $155.3 Billion by 2031, growing at a CAGR of 20.8 % during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “North America Solar Photovoltaic Market – By Type (Thin-Film Solar Cells and Crystalline Silicon Cells), Material (Silicon based, Perovskite, Organic Photovoltaic and Others), By Grid (On- Grid and Off- Grid), By Installation (Ground mounted, Rooftop and Floating Solar) , By End- User (Residential, Commercial, Utility-Scale and Others) and By Country - Opportunity Analysis & Industry Forecast, 2025-2031.
The rising demand for renewable energy, coupled with advancements in solar cell architecture, is significantly driving the growth of the solar market. Additionally, advancements in solar cell architecture, such as improved efficiency and durability, are making solar power more attractive, further fueling market growth in the region during the forecast period.
United States Dominated the Market in 2024:
United States held the largest share of 75% of the North America Solar Photovoltaic Market in 2024. In February 2025, Solar Power World reported that, according to data from the United States International Trade Commission, the U.S. imported 13.89 GW of silicon cells in 2024. The rise in imports throughout the year is attributed to the increasing number of new module assemblers coming online. Additionally, a February 2025 article by the Solar Energy Industries Association (SEIA) highlighted a significant milestone in U.S. solar manufacturing. The country surpassed 50 gigawatts (GW) of domestic solar module production capacity. This achievement enables U.S. manufacturers to meet the entire demand for solar energy within the nation, reducing reliance on foreign solar suppliers and ensuring a more resilient supply chain.According to the SEIA’s Supply Chain Dashboard, companies have committed to expanding the U.S. solar industry with plans for 56 GW of new U.S. solar cell production, along with 24 GW of wafer production and 13 GW of ingot production. This infrastructure growth represents a critical step toward creating a self-sufficient, domestic solar supply chain, strengthening the U.S. solar market and supporting American workers.
North America Solar Photovoltaic Market: Key Takeaways
• Rising Demand for Renewable Energy
The rising demand for renewable energy is significantly contributing to the expansion of the Solar Photovoltaic market in North America. As reported in December 2024, the Biden administration is proactively protecting the U.S. clean energy sector by raising tariffs on solar wafers, polysilicon, and certain tungsten products imported from China. This strategic move aims to support domestic solar manufacturers, ensuring the continued growth and sustainability of the U.S. solar industry. The strong demand for renewable energy is further boosting the sector, driving advancements and promoting the growth of solar energy solutions across the nation. These steps reflect the increasing commitment to clean energy, reducing dependency on fossil fuels, and contributing to a greener, more resilient energy grid in North America.
For More Queries About "North America Solar Photovoltaic Market " @ https://www.industryarc.com/Research/North-America-Solar-Photovoltaic-Market-800895
• Advancement in solar cell architecture
Advancements in solar cell architecture have introduced several cutting-edge technologies like advanced PERC (Passivated Emitter and Rear Contact) technology, Heterojunction (HJT) technology, and Tandem solar cells which are designed to improve solar cell efficiency by enhancing light absorption, reducing energy losses, and optimizing performance under various conditions.As the industry evolves, there is a notable shift from Mono PERC technology to TOPCon (Tunnel Oxide Passivated Contact), which offers even higher efficiency by using a passivation layer on both the front and rear of the cell, reducing energy losses. A prime example of this shift is JinkoSolar's launch in November 2024 of its Tiger Neo 3.0 panels featuring the next-generation TOPCon technology, which delivers the world’s most powerful modules, with a capacity of up to 670 W and the industry’s first-ever 495W residential modules. This innovative development enables JinkoSolar to pack more power capacity into its panels than ever before, setting new benchmarks in solar energy efficiency.
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Recent Developments:
• In December 2024, NuVision Solar announced its entry into the North American solar market, focusing on the production of heterojunction solar cells and modules under one roof and has established an annual manufacturing capacity of 2.5 gigawatts (GW) for high-performance solutions across the utility, large-scale commercial, and residential sectors.
• In June 2024, Canadian Solar Inc. announced a partnership with leading renewable energy supplier Lifestyle Solar Inc. to offer solar and energy storage solutions to homebuilders in California. Under this collaboration, Canadian Solar will provide its integrated residential solar and energy storage solutions, including high-efficiency solar modules and the EP Cube residential energy storage system.
North America Solar Photovoltaic Market: Competitive Landscape
Key companies profiled in the North America Solar Photovoltaic Market are First Solar, Inc., Hanwha Q Cells Co., Ltd., Silicon Solar, Canadian Solar Inc., Trina Solar Ltd., SEG Solar , JinkoSolar US, LONGi Solar North America, Mission Solar Energy LLC, Heliene, Inc.and Others.
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Solar Wafer Cutting Fluid Market - The solar wafer cutting fluid market size is forecast to reach US$1.2 billion by 2027, after growing at a CAGR of 8.3% during 2022-2027. The rise in demand for solar wafer cutting fluid from the semiconductor and photovoltaic industries is estimated to surge the demand for the solar wafer cutting fluid market.
Solar Photovoltaic Market – The Solar Photovoltaic Market size is estimated to reach $1,566 Billion by 2031, growing at a CAGR of 22.0% during the forecast period 2025-2031. The Solar Photovoltaic market is booming due to the rising demand for clean energy and sustainability driven by global efforts to reduce carbon emissions.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
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