U.S. 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 Design (T-frame Structures and V-frame Structures), By Capacity (Less Than 500 kW, 500 kW to 1 MW, and Above 1 MW), and By Application (Commercial and Others), and Country Forecast, 2023-2030

The U.S. solar carport market size was worth USD 44.26 million in 2022 and is projected to grow at a CAGR of 8.21% during the forecast period. 

With the growth of Electric Vehicles (EVs), solar carports can be integrated with EV charging stations. This alliance aligns well with the sustainable transportation trend. It promotes the utilization of clean energy for transportation and powering charging infrastructure and finds applications in both commercial and residential settings. Businesses install them to generate on-site renewable energy, reduce energy costs, and demonstrate environmental responsibility. Homeowners can use solar carports to generate power for their homes and EVs. Many governments offer incentives, tax credits, and subsidies to encourage the adoption of solar power systems comprising solar carports. These incentives reduce the upfront costs of installation and make these carports more attractive to businesses and individuals. Many commercial enterprises set renewable energy goals as part of their sustainability initiatives. These carports offer a dual benefit by providing renewable energy generation and covered parking, aligning with corporate environmental objectives.

The COVID-19 pandemic affected the solar industry similarly to others, experiencing disruptions in the global supply chain due to factory closures, transportation restrictions, and logistical challenges. Delays in the production and delivery of solar components affected the implementation of solar carport projects.

LATEST TRENDS

Technological Advancements in Solar Panel Efficiency to Drive Market Demand

Efficient solar panels can generate higher amounts of electricity from the same amount of sunlight. This means that solar carports equipped with efficient panels can produce more energy, making them more attractive to potential users looking to maximize their energy generation and savings. These carports are often built in areas with limited available space, such as parking lots. Higher efficiency panels allow for greater energy production within these constrained spaces, making solar carports a viable option even in areas where ground-mounted solar installations may not be feasible. These projects can be substantial investments. With more efficient panels, the energy output per square meter or square foot increases. This, in turn, leads to faster payback periods and improved Return On Investment (ROI) for project owners and investors. The financial feasibility of these carports often depends on how much energy they can generate over their lifespan. Higher efficiency panels extend the project's productive life as they continue to produce meaningful energy even as they age, further enhancing the project’s financial viability.

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In 2022, net solar power generation in the U.S. attained its highest point at 145,598 gigawatt hours of solar thermal and photovoltaic power.

DRIVING FACTORS

Rising Energy Costs are the Major Factor Driving the U.S. Solar Carport Market

Rising energy costs directly impact the operational expenses of businesses, institutions, and households. By generating their solar energy through carport installations, these entities can significantly reduce their reliance on grid electricity and lower their overall energy bills. Solar carports offer a fixed and predictable source of energy generation. This stability contrasts with the volatility of traditional energy prices, providing greater budget certainty for businesses and organizations. Solar carport installations have a lifespan of several decades. By investing in solar now, entities can secure cost savings and energy independence for the long term, mitigating the impact of continually rising energy costs. For businesses in energy-intensive sectors, rising energy costs can affect their competitiveness. These companies can reduce overhead costs by adopting solar carports, making their products or services more competitive in the U.S. market.

RESTRAINING FACTORS

Limited Space and Site Suitability are the Major Factors Restraining the U.S. Solar Carport Market Growth

Solar carports require considerable space to accommodate both the vehicles parked underneath and the solar panels on top. Available space might be limited in urban areas or densely populated locations, making it challenging to find suitable areas for large-scale solar carport installations. This limitation can hinder the U.S. solar carport market growth, especially in areas where land is at a premium. Solar panels require adequate sunlight exposure to generate sufficient electricity. Shading from nearby buildings, trees, or other structures can significantly reduce the efficiency of the solar panels and, consequently, the energy output of the carport. Identifying sites with optimal sun exposure throughout the day is crucial for the economic viability of these carports. Sites with poor solar access might not be suitable for such installations, limiting potential deployment locations.

SEGMENTATION

By Type Analysis

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

The two-row dual slope vehicle arrangement carport segment held a larger share in 2022.  The two-row dual slope arrangement allows for maximum space utilization by accommodating two rows of vehicles parked underneath the solar panels. This can be particularly advantageous in areas with limited space. The dual-slope design enables the solar panels to capture sunlight from multiple angles throughout the day, optimizing energy generation. This can lead to increased energy output compared to other configurations.

By Design Analysis

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

The T-frame structures segment accounted for the highest U.S. solar carport market share as they are relatively straightforward to design and manufacture, which can help reduce overall project costs. This simplicity can make them an attractive option for both small-scale and large-scale solar carport installations. The T-frame design allows for efficient use of space by providing clear spans between support columns, enabling vehicles to park underneath without obstruction.

By Capacity Analysis

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

The less than 500 kW segment held a dominant share. The smaller-scale solar carport installations are often more accessible to a wider range of businesses, institutions, and property owners. They may require lower upfront investments and be more feasible for entities with limited resources. Many commercial and industrial facilities have parking areas that are suitable for these carport installations. Smaller-scale projects can be more readily integrated into these existing spaces, providing a way for businesses to generate renewable energy without significant disruption.

By Application Analysis

Based on application, the market is segmented into commercial and others.

The commercial segment held the largest market share in 2022. Commercial entities, such as businesses, retailers, and office complexes, often have higher energy consumption. By investing in solar carports, they can significantly reduce their electricity bills and achieve long-term cost savings. Many businesses increasingly adopt sustainable practices as part of their corporate social responsibility initiatives. Installing these carports aligns with these initiatives, helping businesses demonstrate their commitment to environmental sustainability and reducing their carbon footprint.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, the market depicts the presence of established and emerging solar carport companies. In the U.S., SunPower is estimated to dominate the market in 2023. SunPower declared that its 750 kilowatts of high-efficiency SunPower E-series solar panels are generating three new carports in Grenoble, the southeastern city of France. Regional utility GEG has conducted the project in integration with OSER and Grenoble Alpes Metropole as a portion of its PARKOSOL program.

Some of the other companies with a considerable presence in the U.S. market include Solaire Generation, Quest Renewables, Borrego Solar, Envision Solar, and Solar Dock.

LIST OF KEY COMPANIES PROFILED:

• SunPower (U.S.)


• Solaire Generation (U.S.)


• Quest Renewables (U.S.)


• Borrego Solar (U.S.)


• Premier Carports (U.S.)


• Schletter Group (U.S.)


• Envision Solar (U.S.)


• Innovative Solar Systems, LLC (U.S.)


• SolarDock (U.S.)


• Pivot Energy (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023 – Six Flags Entertainment Corporation declared the installation of a modern energy storage system and 12.37-megawatt solar carport at Six Flags Magic Mountains in Los Angeles. With the partnership with Solar Optimum and DSD renewables, the company will continue to enhance environmental programs with added waste energy reduction targets and initiatives.


• June 2022 – Terrasmart contributed its racking system for Chicago’s highest commercial solar installation.  The carport and rooftop solar installations incorporate 213-kilowatt DC of solar generating capacity for the Chicago Urban League.


• May 2020 – Pivot Energy placed a 431 kW solar carport at Colorado Electric Co-op. Pivot Energy elongated with procurement, design, and construction management services for the solar carport installation.

REPORT COVERAGE

The 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 the industry in the U.S., and pricing analysis. Additionally, it includes information about new product launches, key industry developments such as mergers, partnerships, 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 aforementioned factors, it encompasses several factors that have contributed to the growth of the market over recent years.

An Infographic Representation of U.S. Solar Carport Market

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