Reroofing will account for 70% percent of demand in 2037
CLEVELAND: In current market conditions, demand for solar roofing in the US is forecast to advance to 835,000 squares in 2022 and reach 3.4 million squares in 2037. Reroofing will account for the larger share of demand in 2037 with 70% percent of the total. These and other trends are presented in Solar Roofing Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/solar-roofing-in-the-us-by-application-and-region-3616.htm
New build applications will also see demand growth going forward as builders in California install solar roofing to meet building code requirements for structures to use zero net energy – generating as much energy as they consume.
The West is projected to be the leading regional market in the US for solar roofing in both the short and long terms, accounting for almost 75% of the market total in 2022 and 80% of demand in 2037. According to analyst Matt Zielenski, this is not surprising, given the:
efforts of construction professionals to comply with the CALGreen zero net energy standards for most structures
widespread use of solar products in California
favorable climate conditions – states in the Southwestern US receive substantially more sunlight per day than in any other part of the US
commitment of state and local political leaders in the region to mitigate the effects of climate change by promoting electricity generation by renewable sources (such as solar)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning.