Smart Solar Latest Trends and Future Growth
2022-04-18 10:44:49 UTC | Energy & Power
The increasing consumption of conventional energy sources such as natural gas and oil products are one of the most prime issues and concern of 21st century. The limited availability of conventional energy sources has raise awareness about using other non-conventional and alternative energy sources. In coming years society is expected to experience an increased preference towards adoption of alternative energy sources such wind, solar and tidal. Solar energy is one of the most abundant and vastly available non-conventional energy sources
Increasing regulatory compliances and government initiatives for adopting non-conventional energy sources along with increasing electricity tariffs and gas prices are some of the factors that are driving the smart solar market. High initial investment cost, low awareness about technology and low Return on Investment (RoI) are few of the reasons that may slow down the adoption of smart solutions among various industry verticals and domains. Evolving solar technology, growing environmental awareness and concerns are among the factors that are expected to provide high opportunities for various smart solar market players that are operating in this particular market.