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US MENA Solar Energy Market

ID: MRFR/EnP/16565-HCR
100 Pages
Snehal Singh
October 2025

US MENA Solar Energy Market Research Report By Technology (Concentrated Solar Power Systems, Photovoltaic Systems), By Application (Residential, Commercial, Industrial), By Solar Module (Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, Monocrystalline, Others) and By End-Use (Electricity Generation, Lighting, Heating, Charging) - Forecast to 2035

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US MENA Solar Energy Market Summary

As per analysis, the (US) us mena solar energy market is projected to grow from USD 2.7 Billion in 2025 to USD 4.75 Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period (2025 - 2035).

Key Market Trends & Highlights

The US MENA solar energy market is poised for substantial growth driven by technological advancements and increasing consumer demand.

  • The residential segment remains the largest contributor to the solar energy market, reflecting a strong consumer shift towards renewable energy solutions.
  • Utility scale solar energy is the fastest-growing segment, indicating a significant investment in large-scale solar projects.
  • Photovoltaic technology continues to dominate the market, while concentrated solar power is emerging as the fastest-growing technology.
  • Technological advancements and supportive regulatory frameworks are key drivers propelling the market forward.

Market Size & Forecast

2024 Market Size 2.53 (USD Billion)
2035 Market Size 4.75 (USD Billion)
CAGR (2025 - 2035) 6.5%

Major Players

First Solar (US), SunPower (US), Canadian Solar (CA), JinkoSolar (CN), Trina Solar (CN), Enphase Energy (US), Sunnova Energy (US), SolarEdge Technologies (IL), ACWA Power (SA), Masdar (AE)

US MENA Solar Energy Market Trends

The US MENA solar energy market is currently experiencing a transformative phase characterized by a growing emphasis on renewable energy sources. This shift is largely driven by governmental policies aimed at reducing carbon emissions and promoting sustainable energy solutions. The integration of advanced technologies, such as solar photovoltaic systems, is becoming increasingly prevalent, enhancing energy efficiency and reducing reliance on fossil fuels. Furthermore, the collaboration between public and private sectors is fostering innovation and investment in solar infrastructure, which is essential for meeting future energy demands. As the market evolves, it appears that consumer awareness and demand for clean energy options are also on the rise, indicating a potential shift in energy consumption patterns. In addition, the US MENA solar energy market is witnessing a surge in international partnerships aimed at enhancing solar energy deployment. These collaborations may facilitate knowledge transfer and technology sharing, which could prove beneficial for both regions. The focus on solar energy is not merely a trend but a strategic move towards achieving energy independence and sustainability. As the market continues to develop, it is likely that new policies and incentives will emerge, further supporting the growth of solar energy initiatives. Overall, the US MENA solar energy market is poised for significant advancements, driven by innovation, collaboration, and a commitment to sustainable energy practices.

Increased Investment in Solar Technologies

The US MENA solar energy market is witnessing a notable increase in investments directed towards solar technologies. This trend is fueled by both governmental incentives and private sector interest, which aim to enhance solar infrastructure and improve energy efficiency. As a result, the market is likely to see a proliferation of innovative solar solutions that cater to diverse energy needs.

Expansion of Solar Energy Policies

Recent developments indicate a robust expansion of solar energy policies within the US MENA solar energy market. These policies are designed to promote the adoption of renewable energy sources and facilitate the transition towards a more sustainable energy landscape. The emphasis on regulatory frameworks may encourage further growth and stability in the solar sector.

Growing Consumer Demand for Renewable Energy

There appears to be a significant increase in consumer demand for renewable energy options within the US MENA solar energy market. This shift is likely influenced by heightened awareness of environmental issues and the benefits of clean energy. As consumers become more informed, the market may experience a shift in energy consumption patterns, favoring solar energy solutions.

US MENA Solar Energy Market Drivers

Rising Energy Costs

The US MENA solar energy market is increasingly influenced by rising energy costs, which drive consumers and businesses to seek alternative energy solutions. As traditional energy prices fluctuate, solar energy presents a stable and predictable cost structure. The Energy Information Administration has indicated that electricity prices have risen steadily over the past decade, prompting a shift towards renewable energy sources. In this context, solar energy becomes an attractive option for mitigating energy expenses. The long-term savings associated with solar installations, combined with decreasing installation costs, suggest that the US MENA solar energy market will continue to grow as more stakeholders recognize the financial benefits of solar energy.

Public Awareness and Education

Public awareness and education regarding the benefits of solar energy are crucial drivers for the US MENA solar energy market. As consumers become more informed about the environmental and economic advantages of solar energy, demand for solar installations is expected to rise. Educational campaigns and community outreach programs have been effective in dispelling myths and providing accurate information about solar technologies. According to surveys conducted by the Solar Foundation, public support for solar energy has increased significantly over the past few years. This growing awareness is likely to translate into higher adoption rates, further propelling the US MENA solar energy market as more individuals and communities seek to invest in renewable energy solutions.

Supportive Regulatory Frameworks

The US MENA solar energy market benefits from a supportive regulatory environment that encourages the adoption of solar technologies. Federal and state-level policies, such as the Investment Tax Credit (ITC) and Renewable Portfolio Standards (RPS), play a crucial role in promoting solar energy. The ITC allows for a significant tax deduction for solar installations, which has been instrumental in driving growth. According to the Solar Energy Industries Association, the US installed over 19.2 gigawatts of solar capacity in 2020, largely due to these incentives. Furthermore, states like California and New York have implemented ambitious renewable energy goals, further propelling the US MENA solar energy market forward. This regulatory support is expected to continue fostering a favorable environment for solar energy investments.

Corporate Sustainability Initiatives

The US MENA solar energy market is witnessing a surge in corporate sustainability initiatives, as businesses increasingly commit to reducing their carbon footprints. Major corporations are investing in solar energy to meet their sustainability goals and enhance their brand image. For example, companies like Google and Apple have made substantial investments in solar projects, aiming for 100% renewable energy usage. This trend is not only beneficial for the environment but also aligns with consumer preferences for sustainable practices. As more companies adopt solar energy solutions, the US MENA solar energy market is likely to experience accelerated growth, driven by corporate demand for renewable energy.

Technological Advancements in Solar Energy

The US MENA solar energy market is experiencing rapid technological advancements that enhance the efficiency and affordability of solar energy systems. Innovations such as bifacial solar panels and advanced energy storage solutions are becoming increasingly prevalent. For instance, the National Renewable Energy Laboratory has reported that the efficiency of solar panels has improved significantly, with some models achieving over 22% efficiency. These advancements not only reduce the cost per watt of solar energy but also increase the overall energy yield, making solar installations more attractive to consumers and businesses alike. As technology continues to evolve, the US MENA solar energy market is likely to see a surge in adoption rates, driven by both residential and commercial sectors seeking to capitalize on these improvements.

Market Segment Insights

By Application: Residential (Largest) vs. Utility Scale (Fastest-Growing)

In the US MENA solar energy market, the application segment showcases a diverse distribution among residential, commercial, utility scale, off-grid, and hybrid systems. The residential segment holds a significant share, driven by increasing consumer awareness and incentives for homeowners to adopt solar solutions. Commercial applications are also notable for their growing market presence, although they lag behind residential installations. Utility scale systems are rapidly gaining traction as utilities seek sustainable solutions to meet demand and regulatory requirements, positioning themselves as one of the fastest-growing segments in recent years.

Residential: Dominant vs. Utility Scale: Emerging

The residential application of solar energy in the US MENA market is characterized by its substantial market penetration, driven by favorable government policies, evolving consumer preferences towards renewable energy, and the decreasing cost of solar technologies. Homeowners increasingly view solar installations as an investment that leads to long-term savings on energy bills. Conversely, utility scale solar systems are emerging robustly due to the need for large-scale renewable energy projects and governmental support for grid decarbonization. While residential solar is currently dominant, the increasing demand for clean energy and advancements in technology are propelling utility scale systems to become pivotal players in the market.

By Technology: Photovoltaic (Largest) vs. Concentrated Solar Power (Fastest-Growing)

In the US MENA solar energy market, the technology segment is dominated by Photovoltaic (PV) systems, which have established themselves as the largest source of solar energy production due to their efficiency and versatility. Concentrated Solar Power (CSP) follows as the fastest-growing technology, leveraging mirrors or lenses to focus sunlight onto a small area, thereby generating high temperatures for energy production. Other technologies such as Thin-Film Solar, Bifacial Solar, and Building-Integrated Photovoltaics also contribute to the market, but their shares remain comparatively lower, highlighting a diverse but concentrated technological landscape.

Technology: Photovoltaic (Dominant) vs. Concentrated Solar Power (Emerging)

Photovoltaic technology continues to dominate the US MENA solar energy market, thanks to its accessibility and adaptability in various applications, from residential rooftops to large-scale solar farms. Photovoltaic systems are characterized by their ability to convert sunlight directly into electricity efficiently. In contrast, Concentrated Solar Power is emerging as a significant player, harnessing solar energy for utility-scale power generation. CSP technology's growth is supported by rising energy demands and advancements in thermal energy storage, making it a viable alternative for reliable energy generation in the region.

By End Use: Electricity Generation (Largest) vs. Heating (Fastest-Growing)

In the US MENA solar energy market, the segment distribution shows that Electricity Generation remains the largest contributor, leveraging advanced photovoltaic technology to fulfill the increasing demand for clean energy. Heating applications, while currently smaller, are rapidly expanding due to rising energy costs and a growing emphasis on sustainability, making them an attractive alternative for residential and commercial properties seeking efficiency gains. As the solar energy sector evolves, the growth trajectory for Heating is compelling with innovative technologies such as solar thermal systems gaining traction. This trend is largely driven by policy support aimed at reducing reliance on fossil fuels and enhancing energy self-sufficiency. As solar energy solutions become more accessible and affordable, the focus on sustainable Heating is expected to inflate its market share significantly over the coming years.

Electricity Generation: Dominant vs. Heating: Emerging

Electricity Generation from solar sources stands as the dominant force within the US MENA solar energy market, largely attributed to its established technologies and significant investments. This segment benefits from high efficiency rates and declining costs associated with solar panel installation. In contrast, Heating is emerging as an exciting market segment, driven by technological breakthroughs in solar thermal applications and a heightened public awareness regarding energy conservation. The demand for solar Heating solutions is particularly strong in areas with abundant sunshine, which enhances their efficiency. Furthermore, government incentives aimed at promoting renewable energy sources bolster the transition to solar Heating, making it a competitive alternative for both residential and commercial heating needs.

By Installation Type: Rooftop (Largest) vs. Ground-Mounted (Fastest-Growing)

In the US MENA solar energy market, the installation type segment showcases a diverse range of opportunities. Rooftop installations currently hold the largest market share, leveraging existing structures for solar energy generation. Ground-mounted installations are rapidly gaining traction, particularly in open spaces, representing a significant portion of the market due to their scalability and efficiency in harnessing solar power. Additionally, emerging segments like carport and floating solar systems are slowly gaining acceptance as complementary solutions in urban settings. The growth trends are driven by technological advancements and governmental policies promoting renewable energy. Ground-mounted systems, in particular, are becoming popular due to decreasing land costs and increased demand for utility-scale solar projects. Meanwhile, rooftop solar benefits from favorable regulations and tax incentives for residential buyers, further enhancing its attractiveness. As awareness of sustainability grows, the installation type segment is poised for substantial evolution over the coming years.

Rooftop (Dominant) vs. Floating Solar (Emerging)

Rooftop solar installations continue to dominate the US MENA solar energy market due to their convenience and efficiency. They allow homeowners and businesses to utilize existing rooftops, effectively reducing initial investment costs while providing immediate energy savings. In contrast, floating solar is an emerging segment that leverages bodies of water to install solar panels. This innovative approach not only saves land but also reduces water evaporation and can improve solar panel efficiency due to cooler temperatures. As interest in sustainable practices grows, floating solar is gaining momentum in the market, marking it as a viable alternative to conventional installations and highlighting the diversification within the solar energy landscape.

By Financing Model: Direct Purchase (Largest) vs. Power Purchase Agreement (Fastest-Growing)

In the US MENA solar energy market, the financing model segment is characterized by various avenues including direct purchase, power purchase agreements (PPAs), leasing, government incentives, and crowdfunding. The largest share goes to direct purchases, which provide consumers with complete ownership of their solar installations. PPAs, on the other hand, are rapidly gaining traction due to their affordability and ease of access, appealing mainly to commercial customers and boosting their market share significantly.

Financing Model: Direct Purchase (Dominant) vs. Power Purchase Agreement (Emerging)

Direct purchases dominate the financing model landscape in the US MENA solar energy sector, allowing customers to invest in their solar systems and retain long-term benefits such as tax credits and increased property value. This method often appeals to homeowners and businesses with adequate capital. Conversely, power purchase agreements represent an emerging trend, wherein customers can install solar panels with little or no upfront costs while paying for the energy generated. This low-risk option is attractive, particularly for businesses looking to reduce energy expenses without the capital burdens associated with ownership.

Get more detailed insights about US MENA Solar Energy Market

Key Players and Competitive Insights

The competitive dynamics within the solar energy market are characterized by a robust interplay of innovation, strategic partnerships, and regional expansion. Key players such as First Solar (US), SunPower (US), and Enphase Energy (US) are at the forefront, each adopting distinct strategies that collectively shape the market landscape. First Solar (US) emphasizes technological innovation, particularly in thin-film solar technology, which enhances efficiency and reduces costs. SunPower (US), on the other hand, focuses on premium product offerings and customer-centric solutions, positioning itself as a leader in residential solar installations. Enphase Energy (US) leverages its expertise in microinverter technology, enhancing system performance and reliability, thereby appealing to both residential and commercial sectors.The market structure appears moderately fragmented, with a mix of established players and emerging companies vying for market share. Key tactics such as localizing manufacturing and optimizing supply chains are prevalent among these companies, allowing them to respond swiftly to market demands and reduce operational costs. The collective influence of these major players fosters a competitive environment where innovation and efficiency are paramount, driving overall market growth.In November 2025, First Solar (US) announced a strategic partnership with a leading energy storage provider to enhance its solar-plus-storage solutions. This move is significant as it aligns with the growing demand for integrated energy solutions, enabling customers to maximize their energy independence and efficiency. By combining solar generation with storage capabilities, First Solar (US) positions itself to capture a larger share of the residential and commercial markets, particularly in regions with high energy costs.In December 2025, SunPower (US) launched a new line of high-efficiency solar panels designed specifically for urban environments. This initiative reflects a strategic focus on addressing the unique challenges of urban solar installations, such as space constraints and aesthetic considerations. By catering to this niche market, SunPower (US) not only differentiates its product offerings but also enhances its appeal to environmentally conscious urban consumers, potentially increasing its market penetration.In January 2026, Enphase Energy (US) unveiled a new software platform aimed at optimizing solar energy management for residential users. This platform integrates advanced analytics and AI capabilities, allowing homeowners to monitor and manage their energy consumption more effectively. The introduction of this technology underscores Enphase Energy's commitment to digital transformation and positions the company as a leader in the smart energy management space, likely enhancing customer loyalty and driving future sales.As of January 2026, the solar energy market is increasingly defined by trends such as digitalization, sustainability, and the integration of AI technologies. Strategic alliances among key players are shaping the competitive landscape, fostering innovation and enhancing operational efficiencies. Looking ahead, competitive differentiation is expected to evolve from traditional price-based competition to a focus on technological innovation, reliability of supply chains, and the ability to offer comprehensive energy solutions. This shift may redefine market dynamics, compelling companies to invest in R&D and strategic partnerships to maintain their competitive edge.

Key Companies in the US MENA Solar Energy Market include

Industry Developments

Recent developments in the US MENA Solar Energy Market have shown a notable increase in activity and investment. Companies such as Enphase Energy and First Solar continue to innovate with advanced solar technology, while NextEra Energy is bolstering its commitment to renewable energy sources, contributing to the market's growth. Tesla has reportedly accelerated its solar product deployments, enhancing its offerings in energy generation and storage. In terms of mergers and acquisitions, notable activity was observed in March 2023 when Brookfield Renewable Partners announced its acquisition of a majority stake in a significant solar project, further expanding its renewable portfolio.

Meanwhile, Trina Solar and JinkoSolar are focusing on enhancing supply chains to meet growing demand in the region. The overall market valuation in the US has been positively impacted by increasing government support for renewable initiatives, aiming for substantial reduction in carbon emissions by 2030. Growth in solar energy capacity reflects escalating investments and infrastructure development, with companies such as Canadian Solar and SunPower stepping up their game to meet ambitious targets set by federal policies promoting clean energy solutions.

Future Outlook

US MENA Solar Energy Market Future Outlook

The US MENA solar energy market is projected to grow at a 6.5% CAGR from 2024 to 2035, driven by technological advancements, regulatory support, and increasing demand for renewable energy.

New opportunities lie in:

  • Development of integrated solar-plus-storage solutions for commercial sectors.
  • Expansion of solar leasing models to enhance customer accessibility.
  • Investment in solar technology R&D to improve efficiency and reduce costs.

By 2035, the US MENA solar energy market is poised for robust growth and innovation.

Market Segmentation

US MENA Solar Energy Market End Use Outlook

  • Electricity Generation
  • Heating
  • Transportation
  • Desalination
  • Agriculture

US MENA Solar Energy Market Technology Outlook

  • Photovoltaic
  • Concentrated Solar Power
  • Thin-Film Solar
  • Bifacial Solar
  • Building-Integrated Photovoltaics

US MENA Solar Energy Market Application Outlook

  • Residential
  • Commercial
  • Utility Scale
  • Off-Grid
  • Hybrid Systems

US MENA Solar Energy Market Financing Model Outlook

  • Direct Purchase
  • Power Purchase Agreement
  • Leasing
  • Government Incentives
  • Crowdfunding

US MENA Solar Energy Market Installation Type Outlook

  • Rooftop
  • Ground-Mounted
  • Carport
  • Floating Solar
  • Building-Integrated

Report Scope

MARKET SIZE 20242.53(USD Billion)
MARKET SIZE 20252.7(USD Billion)
MARKET SIZE 20354.75(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)6.5% (2025 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Billion
Key Companies ProfiledFirst Solar (US), SunPower (US), Canadian Solar (CA), JinkoSolar (CN), Trina Solar (CN), Enphase Energy (US), Sunnova Energy (US), SolarEdge Technologies (IL), ACWA Power (SA), Masdar (AE)
Segments CoveredApplication, Technology, End Use, Installation Type, Financing Model
Key Market OpportunitiesExpansion of solar energy storage solutions to enhance grid reliability in the us mena solar energy market.
Key Market DynamicsGrowing regulatory support and technological advancements drive the US MENA solar energy market's competitive landscape.
Countries CoveredUS
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FAQs

What is the projected market valuation of the US MENA solar energy market by 2035?

The projected market valuation of the US MENA solar energy market is expected to reach 4.75 USD Billion by 2035.

What was the market valuation of the US MENA solar energy market in 2024?

The overall market valuation of the US MENA solar energy market was 2.53 USD Billion in 2024.

What is the expected CAGR for the US MENA solar energy market during the forecast period 2025 - 2035?

The expected CAGR for the US MENA solar energy market during the forecast period 2025 - 2035 is 6.5%.

Which companies are considered key players in the US MENA solar energy market?

Key players in the US MENA solar energy market include First Solar, SunPower, Canadian Solar, JinkoSolar, Trina Solar, Enphase Energy, Sunnova Energy, SolarEdge Technologies, ACWA Power, and Masdar.

What are the projected valuations for the residential segment of the US MENA solar energy market by 2035?

The projected valuation for the residential segment of the US MENA solar energy market is expected to reach between 1.25 USD Billion by 2035.

How does the utility scale segment perform in the US MENA solar energy market?

The utility scale segment was valued at 0.89 USD Billion in 2024 and is projected to grow to 1.5 USD Billion by 2035.

What is the expected growth for the photovoltaic technology segment in the US MENA solar energy market?

The photovoltaic technology segment is projected to grow from 1.5 USD Billion in 2024 to 2.5 USD Billion by 2035.

What financing models are prevalent in the US MENA solar energy market?

Prevalent financing models in the US MENA solar energy market include direct purchase, power purchase agreements, leasing, government incentives, and crowdfunding.

What is the projected valuation for the off-grid segment by 2035?

The projected valuation for the off-grid segment of the US MENA solar energy market is expected to reach 0.4 USD Billion by 2035.

How does the ground-mounted installation type segment perform in the US MENA solar energy market?

The ground-mounted installation type segment was valued at 0.85 USD Billion in 2024 and is projected to grow to 1.4 USD Billion by 2035.

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