MENA sees fastest growth in commercial solar PV

The commercial solar photovoltaic (PV) market is showing quite a strong upward trend these days, mainly thanks to shifting business priorities that now focus more on sustainability and cost savings. Solar PV systems are becoming increasingly popular as a dependable, clean, and long-term energy option for commercial and industrial clients all around the world. This surge in growth is driven by technological breakthroughs, more investment in research and development, and a global movement toward renewable energy sources—mostly because of environmental concerns and rising energy prices.

Interestingly enough, Asia Pacific took the lead in the 2024 commercial solar PV scene. Their dominance comes from a bunch of factors like the rapidly dropping costs of solar panels—thanks, in large part, to China’s manufacturing might—and supportive government policies along with the region’s abundant sunshine. Countries like China, India, and Japan really stand out—they’ve all put a lot of resources into incentives for renewables, infrastructure, and green policies. For example, China’s aggressive push with renewable policies and its hefty R&D budgets really help push the market forward in that region. Meanwhile, India’s growing rooftop solar projects and Japan’s focus on clean energy after the Fukushima incident keep driving steady expansion.

On the other hand, the Middle East and Africa are expected to see the fastest growth rates — the kind of impressive compound annual growth rate (CAGR) you don’t see every day. This is thanks to their forward-thinking governments aiming for renewable energy targets, plus the region’s incredible solar potential, and the rapid development of urban and industrial sectors looking for power sources that are both affordable and sustainable. To illustrate, Oman’s recent opening of its first solar panel manufacturing plant—the Sheida Solar factory in Suhar—is a significant milestone, showing their dedication to building local renewable manufacturing capacities. They’re also aligning with bigger goals like green hydrogen and expanding their renewable energy footprint.

When it comes to different system types, grid-tied PV installations are still the biggest slice of the pie in 2024. They’re popular mainly because they’re cheaper and dependable—they don’t need costly batteries and can even generate credits by feeding excess power back into the grid. However, hybrid systems—those combining solar with storage—are expected to grow the fastest later on. Why? Well, they help smooth out the natural intermittency of solar power, which is crucial if a business needs guaranteed power without interruptions. Plus, they help cut down on expensive grid electricity during peak times.

As for components, solar modules lead the charge, making up the largest part of the market share in 2024. Advances like mono Passivated Emitter Rear Cell (PERC) technology have boosted both efficiency and affordability of modules. Plus, energy storage options—especially lithium-ion batteries—are evolving fast, getting cheaper and more accessible even for smaller companies. These improvements make storage more practical, giving businesses more flexibility with their power use, enabling better self-consumption of solar, and providing backup in case of outages.

Crystalline silicon PV tech remains at the forefront, partly because it’s plentiful, reliable, durable, and environmentally friendly—fitting well with global green goals. But, emerging tech like perovskite solar cells is gaining traction too, due to their lightweight and flexible nature, plus their lower carbon footprint during manufacturing. Those qualities open up exciting new possibilities, like integrating into building materials (BIPV) or portable devices. Recently, China’s Tongwei has made notable progress in perovskite research, enhancing tandem solar cell efficiency by tweaking how wide-bandgap perovskites crystallize on textured silicon surfaces. Such innovations could really boost both performance and cost-effectiveness for future commercial PV systems.

Rooftop installations, of course, continue to dominate deployment types in 2024—mainly because they’re a cost-effective choice for businesses with high power needs. They tend to pay back faster thanks to better technology and government support, such as subsidies and tax incentives. Building-integrated PV (BIPV) is a smaller segment right now but is expected to grow quickly. BIPV involves replacing traditional building materials with solar elements, which not only generate power but also improve the aesthetics and sustainability of buildings. The global BIPV market is predicted to jump from around USD 19 billion in 2024 to over USD 74 billion by 2032. Europe currently leads in this area, but markets in Asia Pacific are also booming, driven by infrastructure projects and major solar module manufacturers like Trina Solar and JinkoSolar.

In terms of applications, office buildings and corporate campuses make up the biggest part of the market in 2024. These sites benefit from lower operational costs and more predictable energy prices, which help shield them from the volatility of fossil fuel markets. Manufacturing plants and industrial operations, with their heavy and continuous energy demands, are expected to adopt solar at an even faster clip—mainly because they need affordable, stable power sources that align with national goals to cut carbon emissions.

Of course, challenges are still present. The variability of sunlight—solar intermittency—makes grid integration tricky, and energy storage remains a key concern. High upfront costs, disputes over land or roof space, and panel wear over time all present hurdles. Still, turning more toward on-site generation creates a lot of opportunities. Many businesses are eager to gain energy independence and cut costs—making conversions to solar an increasingly attractive option.

Recent innovations continue to push the market forward. For instance, in September 2025, Mission Solar released new high-efficiency 435-Watt N-type modules with a 22.8% efficiency rating and a warranty that promises 30 years of power output. This development makes rooftop projects more viable than ever. It’s part of a trend toward better, longer-lasting, and more efficient panels to meet commercial-scale needs. At the same time, research into perovskite technology, like what Tongwei is doing in China, is opening the door to next-gen solar cells that could really transform the industry.

The market’s value chain involves many key players working across different segments—power generation, distribution, and energy storage. Companies like Adani Green, Tata Power Solar, JinkoSolar, and Trina Solar lead the charge by pushing innovation and expanding the global capacity for solar energy.

All in all, the commercial solar PV market is really at an exciting crossroads. Driven by technological advances, supportive policies, and growing environmental awareness, it’s likely to keep expanding. For example, the UAE’s climate tech scene can learn a lot from these developments, especially as it aims to accelerate renewable energy use tailored to regional solar potential and economic goals. With ongoing improvements in solar efficiency, energy storage, and smart management—including AI-driven systems—the sector looks set to keep growing robustly. For businesses eager to lower costs and their carbon footprints, investing in solar is becoming more and more of a smart choice.

Source: Noah Wire Services