Increasing Shift towards Solar Energy Prompts Adoption of Solar Street Lighting Globally

In recent times, solar street lighting (SSL) has become the most preferred option for outdoor lighting. The world, nowadays, is resorting to unconventional energy solutions, with solar energy being the leading preference as an alternative for non-renewable energy. Since SSL units function autonomously and do not require a grid connectivity, their popularity has been increasing by leaps and bounds across the world. Experts predict the trend to continue in the years to come.

According to a report published by Transparency Market Research (TMR), the global market for solar street lighting presented an opportunity of US$2.72 bn in 2015. Rising at an impressive CAGR of 23.23%, it is likely to increase to US$17.7 bn by the end of 2024.

In this blog post, analysts at TMR answer important questions regarding the worldwide market for solar street lighting.

What are the key factors fueling the adoption of solar street lighting?

The growing trend of clean energy is the key factor that has encouraged the adoption of SSL across the world. As these lighting systems purely depend on solar energy for operation, they provide a much viable energy solution for outdoor lighting at any location without grid connectivity.

With high-performance batteries, SSL units also decrease the overall energy consumption in the locations where they are deployed, resulting in more energy savings and, consequently, monetary savings. The rising awareness regarding the fiscal gains that SSL units can provide is also increasing their adoption rate around the world. In addition to this, the negligible need for maintenance and marginal deployment cost of SSL units is likely to increase their application in outdoor lighting over the forthcoming years.

Which of the regional markets is likely to report the most promising growth?

Asia Pacific, among all the regions, has been leading the global market due to a higher production rate of SSL units since the last few years. The presence of a large pool of skilled workforce at much lower wages has positively impacted the market for solar street lighting in this region.

Africa, however, is likely to surpass Asia Pacific in the coming years, thanks to increased consumption. The increasing count of government initiatives such as subsidies and campaigns, and various programs supported by the International Finance Corporation (IFC) and the World Bank to promote solar street lighting products is expected to encourage the adoption of SSL units considerably over the next few years.

Which are the latest developments in the business landscape of the global solar street lighting market?

Philips, a leading player in the solar lighting industry, has recently introduced Solar Gen2, which, the company claims, is the most effective and cost-efficient street lighting solution in the world. With this, the company expects to expand its presence to remote areas where electricity is still a luxury.

Another key organization, The Danish Outdoor Lighting Lab (DOLL), has recently unveiled a new test facility in which the latest designs of city street lights will be tested. The firm has developed streetlights that are circular, rectangular, and square- and halo-shaped in a bid to capture both, solar and wind energy to light these units.

Other prominent players in this market are Omega Solar, Solektra International, Urja Global Ltd., and Bridgelux Inc.


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