U.S. Commercial Solar Carport Market Size, Share & COVID-19 Impact Analysis, By Type (One-Row Vehicle Arrangement Carport, Two-Row Vehicle Arrangement Carport, and Two-Row Dual Slope Vehicle Arrangement Carport), By Capacity (Less Than 500 kW, 500 kW to 1 MW, and Above 1 MW), By Design (T-frame Structures and V-frame Structures), and Country Forecast, 2023-2030

The U.S. commercial solar carport market size was worth USD 257.50 million in 2022 and is projected to grow at a CAGR of 8.53% during the forecast period. 

Businesses are increasingly focused on sustainability and reducing their carbon footprint. Solar carports offer a dual benefit by providing a covered parking area for employees and customers while generating clean, renewable energy. This aligns with corporate social responsibility goals and environmental regulations. Commercial solar carports help businesses reduce their electricity bills by generating solar energy that can be used on-site or fed back into the grid. This can lead to significant cost savings over time, making them an attractive financial investment. The U.S. government and many states offer various incentives and tax credits to encourage the adoption of solar energy. These incentives can significantly reduce the upfront costs of installing solar carports, making them more financially viable for businesses.

Advances in solar panel technology and carport design have made commercial solar carports more efficient and cost-effective. These improvements have led to increased adoption as the technology becomes more accessible. The solar industry relies on global supply chains for materials, such as solar panels, inverters, and mounting structures.

The COVID-19 pandemic disrupted these supply chains, leading to delays in project timelines and increased costs. On the positive side, some governments, including the U.S., introduced stimulus packages to support renewable energy and infrastructure projects as part of their economic recovery plans. These incentives boosted the U.S. commercial solar carport market growth by making it more attractive to businesses looking to reduce energy costs and stimulate economic growth.

Growing awareness and commitment to sustainability and renewable energy practices have driven businesses to seek clean energy solutions. Solar carports provide an opportunity for companies to generate on-site renewable energy while utilizing existing infrastructure. All these factors are estimated to increase the share of the market in the U.S.

U.S. Commercial Solar Carport Market Trends

Increasing Adoption of Smart and IoT Technology to Increase Energy Generation, Storage, and Distribution to Drive Market Growth

Internet of Things (IoT) technology allows for real-time monitoring and control of solar panels, enabling them to track the position of the sun and adjust to the optimal angle for energy generation. This results in higher energy yields and greater efficiency, maximizing the financial benefits for businesses. IoT sensors can monitor the health of solar panels, inverters, and other components in real time. By detecting issues early, businesses can schedule maintenance and repairs to minimize downtime and ensure the long-term reliability of their solar carport systems. IoT technology enables businesses to monitor their energy consumption and generation closely. By analyzing data collected through IoT sensors, businesses can make informed decisions about energy use and optimize their overall energy efficiency, leading to cost savings.

IoT can facilitate load shifting, allowing businesses to control when and how they use the electricity generated by commercial solar carports. This can involve using excess energy during the day to charge batteries or power energy-intensive processes during sunny periods. IoT technology can help manage energy storage systems efficiently, determining when to charge or discharge batteries based on energy generation, demand, and pricing. This ensures that stored energy is used optimally to reduce peak energy costs. IoT-enabled solar carports can communicate with the grid, enabling businesses to participate in demand response programs or feed excess energy back into the grid. This can provide additional revenue streams for businesses through grid services or net metering.

U.S. Commercial Solar Carport Market Growth Factors

Increasing Awareness of Solar Carports in U.S. is Creating Opportunities in Market

Emerging countries such as the U.S. often experience rapid economic growth and urbanization, leading to increased energy demand. Solar carports offer an environmentally friendly solution for meeting this rising energy demand while reducing the reliance on fossil fuels. In many emerging economies, there are concerns about energy security and the reliability of the power grid. Solar carports with energy storage can provide a degree of energy resilience, ensuring a more stable power supply during outages and grid disruptions.

As awareness of environmental issues grows, businesses and governments in emerging countries are looking for ways to reduce their carbon footprint and combat air pollution. Commercial solar carports offer a clean and sustainable source of energy, aligning with these environmental objectives. Emerging economies are introducing policies and incentives to promote renewable energy adoption, including solar. Governments often provide subsidies, tax incentives, and regulatory support to encourage the installation of these solar carports. Solar carports can significantly reduce a business's energy costs, which is a particularly attractive prospect in regions where energy expenses are high. This cost-saving potential can drive the adoption of these solar carports.

RESTRAINING FACTORS

Competing Energy Sources to Restrain Commercial Solar Carport Market Growth in the U.S.

Natural gas is a readily available and relatively low-cost energy source. Combined with advances in natural gas technologies, such as Combined Heat and Power (CHP) systems, it can be a compelling alternative for businesses looking to reduce energy costs. Wind turbines and wind farms can generate a significant amount of electricity, especially in regions with strong and consistent wind resources. Wind power is considered a reliable renewable energy source and competes with solar carports for businesses seeking sustainability. Many businesses may continue to rely on grid-supplied electricity, especially in areas with low electricity prices. Grid electricity can be observed as a more convenient and hassle-free option for some companies. Some businesses might explore biomass and bioenergy solutions, such as using organic materials for energy generation. These sources can be an alternative to renewable energy.

In regions with access to water resources, businesses may consider hydropower as a clean and reliable energy source. Hydropower can offer advantages in terms of energy stability and reliability. CHP systems, also known as cogeneration, can simultaneously generate electricity and proper heat. They are considered energy-efficient and can be an attractive option for businesses seeking to optimize energy use. In regions with geothermal resources, geothermal energy can be a competitive source of renewable energy, offering consistent power generation without weather-related variability.

U.S. Commercial Solar Carport Market Segmentation Analysis

By Type Analysis

Based on type, the market is segmented into one-row vehicle arrangement carport, two-row vehicle arrangement carport, and two-row dual slope vehicle arrangement carport.

The two-row dual slope vehicle arrangement carport segment held a larger U.S. commercial solar carport market share. Dual slope carports often have a sleek and modern appearance, making them aesthetically appealing. This design can complement the architecture of commercial properties and enhance their overall look. The two-row dual slope design typically requires less ground area compared to flat-top solar carports, allowing businesses to make the most of their available space for parking while still generating significant solar power.

One-row vehicle arrangements are efficient in utilizing available space, particularly in settings where land is limited. This layout can maximize the number of parking spaces linearly, making it suitable for areas with spatial constraints.

By Capacity Analysis

Based on capacity, the market is segmented into less than 500 kW, 500 kW to 1 MW, and above 1 MW.

The above 1 MW segment dominated the market in 2022. Commercial properties often have more available space to accommodate larger solar carports. Utilizing this space efficiently by installing carports with a capacity above 1 MW allows businesses to generate more electricity from the same physical footprint.

The 500 kW capacity range is often considered cost-effective for commercial installations. It strikes a balance between capacity and affordability, making it an attractive option for businesses looking to invest in solar energy without undertaking extremely large projects.

By Design Analysis

Based on design, the market is segmented into T-frame structures and V-frame structures.

The T-frame structures segment accounted for the largest share of the U.S. market. The dominance of T-frame structures in the market suggests that businesses and organizations prefer them for various reasons, including ease of installation, stability, and overall cost-effectiveness. It could also indicate that T-frame structures have received positive feedback from users and have proven to be a reliable solution for commercial solar installations.

List of Key Companies in U.S. Commercial Solar Carport Market

In terms of the competitive landscape, the market depicts the presence of established and emerging global commercial solar carport companies in the U.S. In June 2020, SunPower Corporation closed a new program with Bank of the West that will allow SunPower Commercial dealers a new financing option as part of a one-stop-shop complete solution.

Some of the other companies with a considerable presence in the U.S. market include SunPower Corporation, Quest Renewables, Inc., Cenergy Power, Chiko USA, KDC Solar LLC, and Borrego Solar.

LIST OF KEY COMPANIES PROFILED:

• SunPower Corporation (U.S.)


• Quest Renewables, Inc. (U.S.)


• Cenergy Power (U.S.)


• Chiko USA (U.S.)


• KDC Solar LLC (U.S.)


• Baja Carports (U.S.)


• Borrego Solar (U.S.)


• Schletter Group (U.S.)


• Inovateus Solar LLC (U.S.)


• Wright Solar Energy LLC (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• October 2021: Schletter presented a number of upgrades for its systems at Intersolar Europe. These upgrades include Proline for the pitched roof system and FixGrid Pro for more flexibility on flat roofs, among others.


• September 2021: Quest Renewables provided its solar canopy solutions to Maryknoll at Ossining, NY campus. The product features a 2,184-panel canopy system and consists of 12 QuadPod solar canopies. The system covers two parking lots, helping to offset Maryknoll’s energy consumption with renewable energy, and provides clean energy access and electricity bill discounts to local community members.


• December 2021: KDC Solar LLC, a wholly owned subsidiary of CI Renewables LLC, began commercial operations of its 1.6 megawatt (MW) solar carport at CentraState Medical in Freehold, New Jersey. The new system will produce approximately 2.1 million kilowatt hours of solar electricity every year.

REPORT COVERAGE

The U.S. commercial solar carport market research report provides a detailed analysis of the market. It focuses on key aspects such as an overview of the technological advancements, the prevalence of solar carport in the U.S., and pricing analysis. Additionally, it includes information about new product launches, key industry developments such as mergers, partnerships, and acquisitions, and the impact of COVID-19 on the market. Besides this, the report also offers insights into the market trends and highlights key industry dynamics. In addition to the factors above, it encompasses several factors that have contributed to the market’s growth over recent years.

Report Scope & Segmentation