FARMINGTON, Conn. — The Global Solar Power LED Street Light Market is projected to grow at a CAGR of 11.4% during the forecast period 2022-2030, according to a market research study published by Contrive Datum Insights.
Solar LED street lights are systems that get their power from the sun and make electricity and light. The way solar LEDs work is that sunlight is turned into electricity, which lights the lamp directly and heats water for use in the home at night. In a solar street lighting system, photovoltaic panels are put on the top of the lamp post to store energy from the sun. When fossil fuels are used, the chance of climate change goes up. This means that we need to switch to green energy. Solar street lights cut down on how much we rely on traditional energy sources, help cut down on carbon emissions, and help us reach our green energy goals. Solar street lights are a good way to light up places that don’t have enough electricity. Solar street lights are used on many streets, roads, courtyards, parks, airports, and other places.
Request Sample Copy of Report “Solar Power LED Street Light Market Size, Share & Trends Estimation Report By Type (Solar Street Lighting, LED Street Lighting), By Application (Municipal Infrastructure, Residential, Others), By Region, And Segment Forecasts, 2023 – 2030”, published by Contrive Datum Insights.
Recent Developments:
- In April 2018, SEPCO partnered with a local property management company in Woodbury Gardens, Georgia, USA, to provide sidewalk and street lighting in areas where conventional electricity is difficult to introduce. Electric lights are also installed in residential areas and most roads, but many dark areas need to be addressed.
- In March 2018, Signify (Philips Lighting) launched Philips Sunday, a solar-powered street light that integrates a solar panel, battery, and light in one housing, and Philips LifeLight, a solar-powered light with replaceable batteries. With the launch of these products in India, the company is accelerating its strategy for solar lighting.
- In February 2018, the Aurora Department of Parks, Recreation and Open Space (USA) Sol and Sand Creek Park entered into an agreement to install a solar lighting system. Sol installed an EverGen solar lighting system at Sand Creek Park in Aurora, Colorado. Sol has deployed more than 300 solar-powered lighting systems in Colorado.
Market Dynamics:
Growth Factors:
For the market to grow, there must be strict rules and policies about saving energy, and the government must invest in building roads and motorways around cities to reduce traffic congestion. The growth is also due to the fact that the prices of solar energy products like solar panels have gone down. This has slowed the growth of the solar LED street lighting market, which is mostly due to its many benefits, such as low maintenance costs and low costs to install and run. Many countries around the world have started to use renewable energy to light their homes because it is cheaper than other types of energy.
Regional Outlook:
North America is expected to have a certain share of the market, and its global solar LED street lighting market is expected to grow in the next few years because it keeps investing in the development of renewable energy sources. Over the next few years, the market for solar LED street lighting in Latin America is expected to grow. The solar market in Europe is driven by things like the growing need for electricity, the growing concern for the environment, and the growing awareness of consumers. Also, the area has built a large network of clean, green energy sources that can be used to make electricity. One thing the region has going for it is strong government support through policies that are well thought out. Over the next few years, the solar street lighting market is expected to grow a lot in the Asia-Pacific and Middle East and Africa regions. Countries in this area are getting more people, so they need more energy infrastructure like power grids.
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