The research study covers the present scenario and growth prospects of the global solar home lighting market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the market.
The solar home lighting market has two distinct segments that are in absolute contrast with each other. The two segments are the grid-tied solar home lighting and the off-grid solar home lighting. They work on different business principles and cater to completely different customer segments. Despite the existing contrast between the two, both the market segments are expected to grow during the forecast period.
Technavio energy analysts highlight the following three factors that are contributing to the growth of the global solar home lighting market:
- Increased focus on environmental protection
- Higher price of kerosene and falling subsidies
- Decreasing price of lighting units
Increased focus on environmental protection
Since the discovery of the commercial uses of oil and natural gas in the late eighteenth and early nineteenth centuries, the dominance of fossil fuels in satisfying the ever ballooning global energy demand has only grown. Fossil fuels currently account for more than 80% of the world's energy demand. The global energy demand is expected to increase by 35% by 2020, and fossil fuels are expected to meet 75% of this increased demand. The major growth in the demand for this fossil fuel is expected to shift to the non-OECD (Organization for Economic Co-operation and Development) countries such as China and India backed by their booming economies.
Sayani Roy, an industry expert at Technavio, specializing in power says, “The significant impacts that rapid industrialization has had on the environment over the past century are slowly getting more visible. The most significant impact is seen in the rising temperatures of both the land surface and water bodies globally. The primary reason attributed for this is the greenhouse effect, in which an increase in the concentration of greenhouses gases, such as carbon dioxide and methane, significantly causes an increasing amount of solar heat to be trapped.”
Higher price of kerosene and falling subsidies
While considering the scenario on residential lighting, the entire argument is highly contingent upon the accessibility of electricity. For a majority of the houses with access to electricity, the supply can be assumed to be unreliable at most, plagued with long hours of power cuts. In the absence of grid power, these rural and generally low-income households, have had to turn to kerosene for lighting up lamps that provide illumination in the night time.
“One of the major concerns of any government is to provide better living conditions to the citizens. As such, significant amounts of subsidies have been provided by local and national organizations. The amount of subsidies is of gigantic proportions and costs a significant portion of the economic spending budget of these countries,” adds Sayani.
Decreasing price of lighting units
The main target customer segment of the solar home lighting products constitutes of the lower income strata of the rural households. Keeping this in mind, the pricing bracket of the products play a key role in deciding the sales volume, and thus, the associated revenues for the vendors. The historical market for the solar home lighting has seen a relatively higher price of the modules, and thus lesser extent of market penetration.
The price of the solar home lighting products can be gauged by the prices of the individual components of the modules. Solar home lighting product constitutes the following:
- Solar photo-voltaic (PV) cells array
- Battery box
- LED lights
|Panasonic||HIT solar modules|
|Tata Power Solar Systems||Tata solar VENUS|
Lumos SHLC 3009
Lumos Solar Gen
|Shenzhen Yingli New Energy Resources||
Solar Camping lights
Solar Lantern Series
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