Solar Panel Operation and Maintenance Market Size, Share and Trends 2025 to 2034

Solar Panel Operation and Maintenance Market Size and Forecast 2025 to 2034

The global solar panel operation and maintenance market size was calculated at USD 14.51 billion in 2024 and is predicted to reach around USD 32.63 billion by 2034, expanding at a CAGR of 8.44% from 2025 to 2034. The rising adoption of solar energy systems across the globe is the key factor driving the market growth. Also, increasing demand for O&M services coupled with ongoing government initiatives to support solar operations can fuel market growth soon.

Solar Panel Operation and Maintenance Market Key Takeaways

• Asia Pacific dominated the solar panel operation and maintenance market in 2024. 
• North America is expected to witness the fastest growth in the market over the studied period.
• By service type, the preventive maintenance segment dominated the market in 2024. 
• By service type, the corrective maintenance segment is expected to grow at the fastest rate over the forecast period. 
• By installation type, the ground-mounted systems segment led the global market in 2024.
• By installation type, the roof-mounted systems segment is expected to grow at the fastest rate over the forecast period.
• By end use, the residential segment dominated the market by holding the largest share in 2024. 
• By end use, the commercial segment is expected to grow at the fastest rate over the projected period.

The Role of Artificial Intelligence (AI) in Solar Energy Optimization

Artificial Intelligence is important in stretching the efficiency of the solar panel operation and maintenance market. AI algorithms process large amounts of datasets, such as solar irradiance, weather patterns, and historical performance parameters. AI also ensures that the panel captures a large amount of sunlight to boost the energy output. Furthermore, AI algorithms forecast the production and consumption of energy patterns, and optimizing better energy management ensures the sufficient use of stored energy by maximizing its use.

• In July 2024, American utility and power generation company AES Corporation introduced Maximo, an AI-enabled solar installation robot. The robot is designed to significantly improve the speed, efficiency, and safety of solar panel installation. Maximo can install solar panels in half the time and at half the cost of traditional methods.

Market Overview

The solar panel operation and maintenance market encompasses an extensive range of services required to facilitate maximum performance and long-life solar energy systems. The services include monitoring, inspection, installation, and performance optimization. These factors can ensure the operational efficiency of solar panels to fulfill energy distribution and production targets. Many nations are focusing and investing in solar energy infrastructure; hence this will raise the demand for its proper maintenance services.

Solar Panel Operation and Maintenance Market Growth Factors

• The rising investments in renewable energy are expected to boost the solar panel operation and maintenance market growth soon.
• The surging adoption of solar energy systems in residential and commercial sectors can propel market growth shortly.
• The increasing awareness regarding the environmental benefits of solar energy will likely contribute to the market expansion further.

Market Scope

Market Dynamics

Drivers

Rising adoption of smart solar solutions

The surge in buildings and smart homes is increasing the need for integrated solar solutions with remote diagnostics, smart monitoring, and automated maintenance. This is the latest trend in the market. In addition, sustainable energy solutions are gaining traction as it's now becoming an integral part of solar energy-based systems. These advancements are fuelling the requirement for long-term maintenance services to increase its efficiency.

• In June 2024, Jordan's Ministry of Energy and Mineral Resources (MEMR) launched a tender for the supply, installation, operation, and maintenance of solar photovoltaic systems. The 3 kW solar projects will include all auxiliary devices and will be connected to the electrical network for homes of National Aid Fund beneficiaries, supporting vulnerable families in Mafraq, Al-Aghwar, Jerash, and Ajloun.

Restraint

Lack of standardization

The limited standardization of solar panels from wide technological platforms to the changing regional regulations is the major factor hampering the solar panel operation and maintenance market growth. The lack of standard guidelines makes it difficult to keep constant service quality, proper cost, and operational efficiency. Moreover, the lack of standardization can make O&M services complex, hindering its growth potential further.

Opportunity

Increasing emphasis on efficiency and cost reduction

The solar panel operation and maintenance market players' rising focus on cost reduction and increased efficiency of solar panels is creating lucrative opportunities in the market. Operators are increasingly searching for cost-effective solutions to ensure maximum return on investment along with enhanced performance. Furthermore, innovative analytics and management systems are offering key data about performance metrics and other maintenance tasks to ensure profitability and sustainability in solar energy functions.

• In September 2024, Solarium Green Energy Limited, a company specializing in turnkey solar solutions, filed its Draft Red Herring Prospectus (DRHP) with the BSE SME platform, setting the stage for its initial public offering (IPO), as per an exchange filing. The company plans to issue up to 55,00,000 equity shares in the IPO.

Service Type Insights

The preventive maintenance segment dominated the solar panel operation and maintenance market in 2024. The dominance of the segment can be attributed to its smooth operation in a solar panel system and to its ability to ensure proper maintenance through monitoring tasks and regular inspections, hence avoiding unintended repairs and failures. Additionally, the segment includes tasks such as panel and inverter tests, regular cleaning, connection tests, and voltage measurements to prevent potential failures in other components.

The corrective maintenance segment is expected to grow at the fastest rate over the forecast period. The growth of the segment can be credited to the increasing need to minimize downtime to safeguard the system from potential failures. Also, this segment encompasses all the activities performed by the maintenance team to restore components or equipment and solar PV power plant systems to a point where they can perform all the necessary functions smoothly.

Installation Type Insights

The ground-mounted systems segment led the global solar panel operation and maintenance market in 20244. The dominance of the segment can be linked to its ability to hold many solar arrays efficiently, specific to energy needs in wide land areas. The most substantial benefit of this system is its ability for higher energy efficiency and less risk of roof damage. However, ground-mounted systems offer flexibility in position switching and panel shifting to capture the maximum amount of sunlight.

• In September 2024, Fiji launched a tender for ground-mounted solar. Energy Fiji Ltd. has started accepting bids for the development, operation, and maintenance of three ground-mounted solar plants in Fiji with a combined capacity of 21.93 MW. The chosen bidder will be responsible for financing, designing, constructing, managing, insuring, operating, and maintaining the sites.

The roof-mounted systems segment is expected to grow at the fastest rate over the forecast period. The growth of the segment can be driven by increasing the use of this solar installation system in the commercial and residential sectors, offering a space-sufficient solution that utilizes existing structures. Furthermore, this system is more affordable and cost-saving than other installation systems. Also, it can function in a diverse range of climates, making it highly adaptive across the globe.

• In October 2024, Capri Global Capital launched its Rooftop Solar Finance product under the MSME Loans. The creditor will help individuals and businesses harness the power of solar energy for self-use, paving the way for a more sustainable future. Capri Solar Finance offers a hassle-free financing solution with no collateral and minimal documentation.

End Use Insights

The residential segment dominated the solar panel operation and maintenance market by holding the largest share in 2024. The dominance of the segment is due to the growing adoption of solar installations among normal people searching for green energy solutions and cost reductions. In addition, the use of solar panel systems in home settings can enhance home value by reducing carbon footprint and decreasing the overall maintenance and installation costs of the system.

• In April 2024, Berlin-based Zolar secured €100 million to launch a new financing solution for residential solar customers. With this solution, the climate-tech is expanding its product offering for German households. Solar Easypay is a groundbreaking, completely flexible, and individual installment loan to own solar systems and related energy management products.

The commercial segment is expected to grow at the fastest rate over the projected period. The growth of the segment can be credited to the optimal longevity and performance of the solar panels. Cleaning, performance, and routine inspections and monitoring are important to avoid efficiency losses from debris, dirt, and system malfunctions. Additionally, commercial sectors benefit from catering O&M solutions to decrease operational costs and increase energy savings.

Regional Insights

Asia Pacific dominated the solar panel operation and maintenance market in 2024. The growth of the region can be credited to the increasing demand for sustainable energy solutions coupled with favorable government policies supporting solar panel system infrastructure. Furthermore, emerging economies such as China and India are making heavy investments in the solar energy market. These countries have also set renewable energy targets for upcoming years.

North America is expected to witness the fastest growth in the solar panel operation and maintenance market over the studied period. The dominance of the region can be attributed to the increasing installation of solar power systems. Governments are also increasingly focusing on providing sustainable energy solutions. Moreover, in North America, the U.S. led the market owing to the presence of major market players such as SunPower Corporation and First Solar Inc., etc. The country is also witnessing the presence of aging solar systems that need to be changed or repaired.

• In June 2024, a U.S. startup launched an online platform for residential PV system purchases. Two-year-old Monalee has developed an online platform for U.S. homeowners looking to buy solar PV and storage systems. Its software enables the process from quotes to financing, installation, and after-sales support.

Solar Panel Operation and Maintenance Market Companies

• ReneSola
• Hec Solar
• Enphase Energy
• JinkoSolar
• NextEra Energy
• SMA Solar Technology
• First Solar
• Canadian Solar
• Talesun

Latest Announcement by Market Leaders

• In August 2024, SunPower Corp, a leading residential solar technology and energy services provider, announced it has entered into an asset purchase agreement (the "APA") with Complete Solaria, Inc. ("Complete Solaria") to serve as the Stalking Horse Buyer for the assets associated with SunPower's Blue Raven Solar business. New Homes business and non-installing Dealer network.
• In December 2024, SolarEdge Technologies announced it is now shipping the new SolarEdge Home Battery "USA Edition," completing its comprehensive portfolio of domestically manufactured solar and storage products designed to qualify for the domestic content bonus credit as currently guided by the U.S. Department of Treasury and the Internal Revenue Service.

Recent Developments

• In April 2024, in a significant move towards advancing renewable energy solutions in Southern Africa, SolarWorld Africa joined forces with Risen Energy, a leading Chinese solar panel manufacturer renowned for its efficient and durable solar panels.
• In March 2024, Maxeon Solar Technologies, Ltd., a prominent solar innovation company, announced the release of its SunPower Performance 7 solar panels, designed for distributed generation (DG) projects. The panels are distinguished by their unique TOPCon cell technology and shingled-cell design, which offer enhanced power, efficiency, and reliability.

Segments Covered in the Report

By Service Type

• Preventive Maintenance
• Corrective Maintenance
• Monitoring Services
• Repair Services

By Installation Type

• Ground-Mounted Systems
• Roof-Mounted Systems
• Building-Integrated Photovoltaic

By End Use

• Residential
• Commercial
• Industrial

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa