Author: Vikas Kumar
21 June 2024
Solar power is booming. The global solar PV capacity increased from 1.4 GW in 2000 to 760 GW in 2020, and solar power currently generates nearly 4% of the world’s electricity. In the present scenario, solar lights are majorly utilized in commercial and residential sectors, but with the penetration and worldwide adoption of LEDs with increased efficiency and brightness, the adoption is rapidly increasing in the highway and roadways sectors.
Solar Lighting System offers numerous benefits. Firstly, solar lighting systems are environmentally friendly as they rely on sunlight, a renewable and clean energy source. This reduces dependence on fossil fuels and helps combat climate change. Additionally, solar lighting systems are cost-effective in the long run. While the initial installation may require an investment, they operate with no electricity costs, resulting in significant savings over time. Moreover, these systems require minimal maintenance, making them convenient and hassle-free. Solar lighting systems are also versatile and can be installed in remote areas where electricity access is limited or expensive. They provide reliable, independent lighting solutions for outdoor spaces and pathways, enhancing safety and security. Furthermore, solar lighting systems are easy to install as they do not require cabling system, allowing for quick and flexible deployment. Overall, solar lighting systems offer a sustainable, cost-effective, and efficient lighting solution that benefits both individuals and the environment.
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In addition to the above benefits, rising investments and increasing government initiatives and subsidies further increase the adoption of solar lighting technologies. Moreover, the reduction in the cost of solar panels and other Pico components, including LED and battery, has further increased the adoption of solar lighting systems over the years.
Forecast and split of the median Pico component cost USD (2012-2022)
In recent years, numerous startups have originated that are offering off-grid solar products. These startups are offering more innovative solar products and providing solar lights to remote areas with the help of their local presence. These factors are further anticipated to increase the adoption of solar lighting systems in the coming years.
Geographical origins of start-ups working in off-grid solar PV sector globally
Moreover, the growing need for a reliable light source in remote areas, particularly in regions with limited access to grid connections, such as the Asia-Pacific (APAC) and African regions, is driving the adoption of solar lighting systems. People living in rural areas suffer from inadequate or non-existent electricity grids, making it challenging for individuals and communities to access conventional lighting sources. According to IEA, the number of people living without electricity is set to rise by nearly 20 million in 2022, reaching almost 775 million. These can be potential adopters of solar lighting systems.
Furthermore, falling prices of solar panels have played a significant role in the growing adoption of solar lighting systems in these remote areas. Advances in solar technology and economies of scale have led to a reduction in the cost of solar panels, coupled with government initiatives and subsidies, has made solar lighting systems more affordable for end-users in remote areas. According to NREL, since 2010, there has been a 64%, 82%, and 69% reduction in the cost of residential, utility-scale, and commercial rooftop PV systems.
Conclusion
Solar Lighting System offers various advantages, including a reduced cost over time, reduction of carbon emissions, to provide reliable source of electricity in the remote locations, and minimum maintenance. However, there are still a few challenges including the high initial cost of investment coupled with dependency on solar energy, especially where the solar radiations are low and uneven. According to the UnivDatos Market Insights analysis, the surge in adoption of solar lighting driven by increasing need to provide reliable source electricity to remote areas and adoption of solar streetlights in the urban areas driven by the global scenario of the Solar Lighting System market. As per their “Solar Lighting System Market”report, the global market is at a CAGR of 11% during the forecast period from 2023 – 2030 to reach USD 28.24 Billion by 2030.
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