Solar Street Lighting Market (Lighting Source - Compact Fluorescent Lamps and Light Emitting Diode; Application - Commercial, Industrial and Residential; Region - North America, Europe, Asia-Pacific, And Rest of the World): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024

Rising Demand for Eco-Friendly Sustainable Energy Applications to Promote the Growth of Solar Street Lightning Market

Tennessee firm completes the solar-powered project in Puerto Rico

In August 2018, a middle Tennessee-based solar company announced the completion of a new project in Puerto Rico to install new street lighting. The firm stated that extended batteries installed with the lights, allow them to stay lit for three straight days without power or sunlight. The lights can also be monitored remotely. The firm says the new lights provide efficient and inexpensive lighting while operating independently of the power grid.

PowerGrid to install solar lighting systems in E. Godavari district

In August 2018, PowerGrid Corporation of India Ltd has signed a memorandum of understanding (MoU) with New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) for the supply and installation of solar lighting systems at Jaggampeta and Irripaka villages in East Godavari district of Andhra Pradesh.

According to a company release, solar lighting will help in improving the living conditions of the villagers. It will also result in the savings of energy bills and optimum use of natural light. Under this PowerGrid’s CSR initiative with an estimated amount of Rs 20.82 lakh, 18 LED-based 50 solar street lighting systems for Jaggampeta and 25 for Irripaka villages will be installed by NREDCAP, a Andhra Pradesh Government Undertaking.

Rising demand for eco-friendly sustainable energy applications to promote the growth of solar street lightning market over the forecast period

Various government and associations are taking initiative to adopt the sustainable energy sources to provide eco-friendly and energy saving solutions. The rising demand for eco-friendly sustainable energy applications drives the growth of the solar street lighting market. The solar street lighting is able to provide high-quality, clear lighting with considerable energy savings in an eco-friendly way that is likely to boost the growth of solar street lightening market. The solar street lighting system also offers the improved color rendering and slower depreciation than traditional street lights which in turn, drives the demand for solar street lighting products.  Moreover, the reduction of cost of various solar street lighting components including LED, CFL, and others are contributing to the growth of the solar street lighting market.  The rising consumer’s inclination towards the eco-friendly and renewable and energy saving solutions are projected to create several opportunities for the solar street lighting market in upcoming years.

North America dominates the solar street lightning market

North America to hold the largest market share in the solar street lighting market owing to the Rising demand for enhanced energy management coupled with rising solar energy installations. In addition, the Asia Pacific is the fastest growing region in the solar street lighting market. The governments of various countries in the Asia Pacific region promotes the adoption of solar systems for the various application that drives the growth of the solar street lighting market in the Asia Pacific region.

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