Solar Power Meter Market Summary
The market for solar power meters is expected to increase at a compound annual growth rate (CAGR) of 10.7% from 2025 to 2030, from an estimated USD 3.52 billion in 2024 to USD 6.46 billion. The increasing global usage of solar energy systems, aided by financial incentives from the government and growing environmental consciousness, is what is driving this increase.
Key Market Trends & Insights
- North America dominated the solar power meter industry with a revenue share of over 30% in 2024.
- The U.S. solar power meter industry is expected to grow significantly in 2024.
- By integration type, the on-grid solar power meters segment led the market in 2024, accounting for over 68% of global revenue.
- By product, the net meter segment accounted for the largest market revenue share in 2024.
- By measurement, the current measurement segment accounted for the largest market revenue share in 2024.
Market Size & Forecast
- 2024 Market SizeUSD 3.52 Billion
- 2030 Projected Market SizeUSD 6.46 Billion
- CAGR (2025-2030)10.7%
- North AmericaLargest market in 2024
- Asia PacificFastest growing market
In order to maximize energy efficiency, solar power meters are critical for tracking and enhancing solar panel performance. Improvements in wireless connectivity and sensor accuracy further increase product demand in the commercial, industrial, and residential sectors.
The integration of smart grid infrastructure and the increased emphasis on energy saving are also driving market growth. Additionally, growing solar power capacity around the world, particularly in emerging nations where off-grid solar projects and rural electrification are gaining traction, supports market growth. Advanced metering technologies that can measure energy flow in both directions and provide remote monitoring are necessary due to the growing investments in smart grid infrastructure and the integration of Distributed Energy Resources (DERs).
Better energy management, predictive maintenance, and data analytics are made possible by the development of digital and Internet of Things-enabled solar power meters, and these features are becoming crucial for both utilities and customers. Adoption of solar power meters is also encouraged by more stringent regulatory frameworks and net metering rules in different locations.
The current size of the market is further supported by technological developments in metering devices, such as digital meters with real-time data capabilities, which improve system efficiency and dependability. For example, EcoFlow replaced the PowerStream line with its second-generation balcony solar system, the Stream series, in April 2025. Distributed batteries across a home can now function networked and plug-and-play thanks to the new series' improved battery integration and AI-powered coordination.
Furthermore, there are a lot of prospects for solar power meter deployment in new solar installations due to the ongoing industrialization and urbanization in emerging nations. The need for accurate and dependable metering solutions is driven by the increased emphasis on energy conservation and the reduction of carbon emissions. Moreover, market expansion is supported by end users' increasing knowledge of energy conservation and cost savings through optimal solar energy use.
Integration Type Insights
Due to the widespread installation of grid-connected solar systems across the globe, the on-grid solar power meters segment dominated the market in 2024, generating over 68% of global revenue. To enable efficient net metering and invoicing, these meters are necessary for precisely measuring the electricity that is fed into and taken out of the utility system. On-grid solar system adoption has risen, primarily in developed countries, due to government regulations and incentives encouraging the integration of renewable energy sources into current electricity networks. On-grid meters are essential for utilities and customers because the growing use of Distributed Energy Resources (DERs) calls for accurate metering systems to balance energy flows.
The market for off-grid solar power meters is expected to develop at the quickest rate during the forecast years due to the expansion of solar electrification projects in rural and isolated areas with inconsistent or limited grid connectivity. In off-grid applications like telecom towers, agricultural irrigation, and rural homes, these meters provide effective monitoring of standalone solar systems, guaranteeing ideal battery management and energy consumption. The market for off-grid solar meters is being driven mostly by government initiatives and international development projects that concentrate on rural electrification, particularly in growing economies in Asia, Africa, and Latin America.
Report Coverage & Deliverables
The PDF report & online dashboard will help you understand
- Competitive benchmarking
- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
Product Insights
By monitoring the net energy that a user consumes or exports, the net meter segment, which held the greatest market revenue share in 2024, plays a crucial role in grid-tied solar installations. This feature facilitates net metering rules, which let customers use energy credits for excess solar power they supply to the grid to reduce their electricity costs. The adoption of net meters has been fueled by the extensive use of such policies in different places. The fact that utilities depend on net meters to maintain grid stability and provide equitable compensation further solidifies their standing as the go-to metering option for solar PV systems.
Due to its capacity to offer precise, in-depth information on energy flows, the dual meter market is anticipated to expand at the fastest rate throughout the forecast period. Customers and energy managers can examine consumption trends, maximize solar energy use, and spot inefficiencies thanks to this division. The expansion of dual meter installations in the residential and commercial sectors is supported by the growing emphasis on energy management and transparency as well as advancements in smart metering technologies. They can be used in hybrid energy systems and microgrids, where accurate monitoring is crucial.
Measurement Insights
In 2024, the biggest market revenue share was held by the current measurement sector. It precisely tracks the electrical current flow, which is essential for evaluating the performance of solar systems and identifying issues. Their extensive use in utility-scale, commercial, and residential solar installations highlights how crucial they are to maintaining system efficiency and dependability. Real-time data gathering and predictive maintenance are now possible thanks to technological advancements, including enhanced sensor accuracy and integration with digital monitoring platforms, which have further increased their acceptance.
Because of the increasing need for comprehensive energy analytics, which include voltage, current, power factor, and energy consumption data, the power measurement segment is anticipated to develop at the greatest CAGR throughout the forecast period. These meters provide sophisticated grid management features like demand response and load balancing, which are becoming more and more crucial as the use of renewable energy grows. Power measuring meters' increased capacity to provide actionable insights through integration with IoT and cloud-based platforms propels their uptake in commercial solar and smart grid applications.
End Use Insights
The residential segment accounted for the largest market revenue share in 2024 due to the rapid adoption of rooftop solar PV systems by homeowners seeking to reduce electricity expenses and increase energy self-sufficiency. Residential solar installations rely heavily on accurate metering for net metering, energy monitoring, and billing purposes. Factors such as declining solar panel costs, government incentives, and rising consumer environmental consciousness contribute to this segment's strong demand for solar power meters. In addition, smart home integration and energy management systems improve the functionality of advanced metering solutions in residential applications by enabling real-time monitoring, automated energy usage adjustments, and optimized consumption of solar-generated power.
The commercial segment is anticipated to grow at the highest CAGR during the forecast period as businesses increasingly invest in solar energy to lower operational expenses, meet sustainability targets, and comply with regulatory requirements. Large commercial solar installations require advanced metering solutions that provide detailed energy monitoring, performance optimization, and comprehensive reporting. The rise of smart buildings and corporate sustainability initiatives drives demand for solar power meters that offer real-time data, analytics, and integration with energy management systems. Additionally, energy trading and demand response programs, which rely on precise metering, benefit commercial users.
Technology Insights
Because of its exceptional precision, real-time data processing, and compatibility with communication networks for remote monitoring, the digital category held a significant portion of the market in 2024. Modern solar installations require it because of its capacity to offer sophisticated features like automated data logging, problem detection, and energy analytics. Regulations and the need for intelligent energy management, particularly in industrialized areas with established solar markets, are driving the shift from analog to digital metering.
Over the course of the projected period, the analog category is expected to grow dramatically. Analog meters are still important, especially in underdeveloped nations where there are financial limitations and less complicated energy management regulations. They are appropriate for basic solar metering applications due to their simple design and simplicity of installation, particularly in small-scale and off-grid installations. Analog meters are still useful because they are dependable and reasonably priced, even though the world is moving toward digital meters. This helps rural and emerging markets adopt solar.
Regional Insights
With a revenue share of more than 30% in 2024, North America led the solar power meter market. This expansion is supported by favorable legislative frameworks, extensive solar technology adoption, and large investments in smart grid infrastructure. Established net metering regulations, Advanced Metering Infrastructure (AMI) installations, and a robust presence of major industry companies propelling innovation are all advantages for the area. The use of solar power meters is further accelerated by consumer awareness and corporate pledges to green energy.
U.S. Solar Power Meter Market Trends
The U.S. solar power meter industry is expected to grow significantly in 2024. The U.S. market growth is supported by expanding solar capacity across residential, commercial, and utility-scale sectors, supported by federal and state incentives such as the Investment Tax Credit (ITC). The country’s focus on grid modernization and integrating distributed energy resources necessitates advanced metering solutions to support grid stability and consumer engagement.
Europe Solar Power Meter Market Trends
The solar power meter market in Europe is expected to grow significantly over the forecast period, driven by stringent renewable energy targets, regulatory mandates for smart metering, and substantial investments in solar infrastructure. Countries such as Germany, France, and the UK lead in solar adoption and require accurate and reliable metering solutions to monitor energy generation and consumption. The region’s commitment to energy efficiency and decarbonization, combined with the rollout of smart grid technologies, supports the increasing deployment of advanced solar power meters.
Asia Pacific Solar Power Meter Market Trends
The solar power meter industry in the Asia Pacific region is anticipated to register the highest CAGR over the forecast period due to rapid urbanization, increasing energy demand, and aggressive government policies promoting renewable energy adoption. Major markets such as China, India, Japan, and Australia invest heavily in solar power generation capacity and grid modernization, creating substantial demand for reliable and accurate solar power meters. Rural electrification programs and off-grid solar projects in developing countries further contribute to the rising adoption of metering solutions. The region’s expanding manufacturing capabilities and growing awareness about energy management also support rapid market growth.
Key Solar Power Meter Company Insights
Some key companies in the solar power meter industry are FLIR Systems, Fluke Corporation, Amprobe, and Jaycar Electronics.
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FLIR Systems offers advanced solar power measurement tools for solar site surveys, installation, and maintenance of photovoltaic (PV) systems. Their product range includes devices such as the FLIR PV78 irradiance meter, which measures solar irradiance and temperature in compliance with IEC standards. The FLIR CM78-PV clamp meter is capable of handling high-voltage DC measurements up to 1,500 V. FLIR Systems integrates features such as Bluetooth connectivity via the METERLiNK app for wireless data collection and reporting, infrared thermography for fault detection, and I-V curve tracing to verify panel performance.
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Fluke Corporation specializes in precision solar testing instruments for electricians, PV installers, and maintenance technicians. Their solar power meters and analyzers, such as the Fluke FLK-IRR1-SOL Solar Irradiance Meter and the 393 FC Solar Clamp Meter, provide accurate measurements of solar irradiance, voltage, current, and temperature essential for installation, troubleshooting, and performance verification of solar PV systems. Its products are designed for field use, with rugged construction, high safety ratings (CAT III 1500 V), and user-friendly interfaces that facilitate efficient data collection and analysis.
Key Solar Power Meter Companies
The following are the leading companies in the solar power meter market. These companies collectively hold the largest market share and dictate industry trends.
- Amprobe
- ATP Instrumentation
- Canstar Blue Pty Ltd.
- FLIR Systems
- Fluke Corporation
- General Tools & Instruments
- Jaycar Electronics
- PCE Deutschland GmbH
- Solar Light Company, Inc.
- TES Electrical Electronic Corp.
Recent Developments
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In April 2025, SolarEdge Technologies, a prominent player in smart energy solutions, launched its ONE Controller for the German residential solar market. The device is designed to comply with Germany’s new Section 14A EnWG regulation, which mandates grid operators' smart integration and remote controllability of high-power household energy assets to ensure grid stability. The ONE Controller enables seamless connection of residential solar and storage systems with Germany’s Smart Meter system (iMSys), facilitating regulatory compliance and advanced energy management.
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In December 2024, Prime Minister Narendra Modi launched a scheme providing free electricity to domestic consumers using up to 300 units per month, enabling them to earn income by selling surplus solar-generated power. Under this initiative, customers installing rooftop solar projects with capacities up to three kilowatts receive subsidies from the central government. A separate net meter is required to accurately measure electricity generated, consumed, and exported to the grid. Previously, customers bore the cost of this meter; however, the Maharashtra State Electricity Distribution Company Limited (MSEDCL) has now committed to supplying solar net meters free of charge to all eligible participants.
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In October 2024, the West Bengal Electricity Regulatory Commission (WBERC) issued draft regulations establishing a comprehensive framework for installing, operating, and managing grid rooftop solar systems. The regulations permit prosumers to install up to 500 kW capacity under net metering, net billing, and gross metering models, encouraging solar adoption across residential, commercial, and industrial sectors.
Solar Power Meter Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2025 |
USD 3.89 billion |
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Revenue forecast in 2030 |
USD 6.46 billion |
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Growth rate |
CAGR of 10.7% from 2025 to 2030 |
|
Actual data |
2017-2024 |
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Forecast period |
2025-2030 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2025 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Technology, end use, measurement, integration type, product, region |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country scope |
U.S.; Canada; Mexico; Germany; UK; France; China; India; Japan; Australia; South Korea; Brazil; UAE; South Africa; KSA |
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Key companies profiled
|
Amprobe; ATP Instrumentation; Canstar Blue Pty Ltd.; FLIR Systems; Fluke Corporation; General Tools & Instruments; Jaycar Electronics; PCE Deutschland GmbH; Solar Light Company, Inc.; TES Electrical Electronic Corp. |
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Customization scope |
We offer free report customization with every purchase, which is equivalent to up to 8 working days for analysts. Addition or alteration to country, regional & segment scope. |
|
Pricing and purchase options |
Avail yourself of customized purchase options to meet your exact research needs. Explore purchase options |
Global Solar Power Meter Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, MIR has segmented the global solar power meter market report based on integration type, product, measurement, technology, end use, and region
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Integration Type Outlook (Revenue, USD Million, 2017 - 2030)
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On-grid Solar Power Meters
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Off-grid Solar Power Meters
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Handheld Solar Power Meters
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Product Outlook (Revenue, USD Million, 2017 - 2030)
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Net Meter
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Bi-Directional Meter
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Dual Meter
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Others
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Measurement Outlook (Revenue, USD Million, 2017 - 2030)
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Current Measurement
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Voltage Measurement
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Power Measurement
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Energy Measurement
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Technology Outlook (Revenue, USD Million, 2017 - 2030)
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Digital
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Analog
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End-Use Outlook (Revenue, USD Million, 2017 - 2030)
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Residential
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Commercial
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Industrial
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Regional Outlook (Revenue, USD Million, 2017 - 2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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Germany
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UK
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France
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Asia Pacific
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China
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Japan
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India
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South Korea
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Australia
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Latin America
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Brazil
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Middle East and Africa (MEA)
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UAE
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KSA
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South Africa
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