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SMART SOLAR PANEL

16 May 2018

Why use Solar Energy

Solar energy is gaining popularity in India & is becoming more affordable & easier to generate than ever. People like you are looking for more ways to be energy smart with RE sources that help protect the environment. Solar energy is the one of the most effective sources of RE because of the reliable amount of sun the world gets. Ever-advancing tech’s that are emerging will continue to harness this source in better, easier & cheaper ways making solar the fastest growing RE source. Carbon footprint of solar PV panels is already quite small and, as the materials used in them are being increasingly recycled, it continues to shrink. Your electricity bills could decrease quite a bit because of the power you are generating & using, & not buying from your supplier. As solar panels are considered ‘permitted development’ you usually don't need a permit to install them on your roof. There are a few limitations you need to bear in mind before installation. Once installed, solar panels require very little maintenance. They are generally installed at an angle which allows rain to run off freely, washing dirt & dust away. As long as you keep them from becoming blocked by dirt, solar panels could last for over 25 years with little loss in efficiency. Investing in a solar power system makes you less reliant on the National Grid for your electricity. As an energy generator, you can enjoy cheaper electricity throughout the day. & if you invest in battery storage, you could carry on using solar energy after the sun goes down. You’ll be contributing to a more efficient way of generating energy. Transmitting energy from power plants across extensive networks to your home inevitably results in energy loss. When your power is coming direct from your rooftop, the loss is minimised, so less energy is wasted. The Feed in Tariff is a Govt. backed scheme offered by your electricity supplier and, if you opt for it, you could get paid for the energy generated by your solar PV system. Solar panels are generally good investment for your home. Current trends in the energy market mean that a home with solar panels could command a higher price in the future than one without. Smart solar is the advanced version of solar energy tech. Converting the solar energy into electrical or thermal with advanced management & efficient utilization is the new global smart solar market. With the increasing demand of energy worldwide, usage of alternative sources is increasing day by day & solar energy is the best evergreen energy option. That is the key development factor for advancement in smart solar energy solution market. Currently smart solar market is valued at $6.47 billion, & it is estimated to achieve $13.89 bn by 2022, at a CAGR of 16.8% during 2016-23. Smart module market gaining momentum These intelligent packages have grown from being just panels equipped with power optimizers. Today’s good smart modules involve any type of module-level electronics with functions like remote monitoring, module-level shutdown, voltage limiting, increasing power harvest & more. The way we think of smart modules is anything that has something built into it that does more than just sit there & generate power from the sun. Smart modules are something where it differentiates a module. In an industry where basic solar modules used to use bankability to differentiate, there’s more & more companies that claim that. This is a way to continue to innovate & be different from all the manufacturers out there. Power optimizers are still the dominant add-on for smart modules. With system owners demanding more from their PV systems & installers demanding more in terms of installation efficiency, module manufacturers can better satisfy the current market requirements by embedding power optimizers. There is an obvious price difference between traditional modules & the smart Smart Solar PanelsSmart Solar PanelsSmart Solar PanelsSmart Solar Panels Smart Solar Panels Smart Solar Panels Smart Solar PanelsSmart Solar Panels Smart Solar Panels : Marketing Strategies : Marketing Strategies: Marketing Strategies: Marketing Strategies: Marketing Strategies: Marketing Strategies : Marketing Strategies : Marketing Strategies: Marketing Strategies variety. With added monitoring & hardware comes added costs, & the potential for added import taxes. Many module manufacturers were paying import tariffs on their finished goods. Integrating power optimizers into the modules meant that they also had to pay tariffs on the power optimizer, thus raising the cost. This offsets the value of integration. Industry is starting to see more strategies from module manufacturers that limit the impact of the import tariff, meaning that these integrated products are starting to drive cost reduction for installers. There have also been some hiccups in relaying to end-users the real benefits smart modules can bring. People who thought solar couldn’t work on their houses because of huge oak trees casting shade now have real generation capability with smart modules. People will see that these technologies work, there will be a longer track record of increasing your energy production, a track record of them working properly. It’s also likely that other industry requirements could spark the rise in smart module popularity. Now is an ideal time in the market for smart modules. Cost reduction for installer is a constant battle. Since integrated modules can reduce hardware costs & decrease installation times, they have potential to drive costs down. Also, smart modules also have the potential to create differentiation for module manufacturers in a highly commoditized & competitive market. An intersection of cost reduction & differentiation creates a highly attractive environment for smart modules going forward. This smart solar technology provides support, communication, distribution, monitoring & planning & enhanced integration systems. Such advancement in technology has led an increase in the demand for smart solar system. Deployment of solar solutions helps user to save electricity expenses, & increase the efficiency of solar components using monitoring & communication technique. Increasing rates of conventional electric energy & high consumption demand for more energy are the major factors driving the market growth. Also the awareness for natural energy solution is increasing, because people are showing their interest in alternatives for energy solution. Moreover govt. is creating policies & regulations to utilize the solar energy which is also driving the solar energy market. Only restraining factor is high cost of installation. Cost of solar panel itself is high. Adding other components for smart purpose makes system highly expensive. But this high cost will eventually cut down by more production & more deployments. Instability & inefficiency in system could be a challenge to the system. Solar energy system is developing in recent years; even economies of nations are increasing rapidly which could offer new opportunity to the solar industries. Evolving solar industry & increasing environmental awareness coupled with technological evolution open major opportunities. Market size for smart solar segment has considerably grown over the past few years on the account of evolving solar industry & the emergence of technologies such as MDM, SCADA, remote metering have further augmented the opportunity areas for this market. Advancement in solar applications, platforms, services coupled with increasing integration of IoT with smart solar solutions has led to sig. investment in smart solar projects globally. Increasing env. awareness about solar industry amongst the public will also act as an opportunity for the smart solar market. High initial investment, inadequate financial incentives for utilities & reduction of solar subsidies in many countries are the major restraints of the overall growth of this market. Meter data management & network monitoring solutions segments are expected to be the most promising segments. Smart solar market has been segmented into solutions, services, applications, & industry sectors. Meter data management & network monitoring solution segment is projected to grow with a high growth rate; hence, will present good market opportunity during the forecast period. System integration & deployment services holds a major share in the smart solar services segment. Increasing integration of smart solar technologies with different industries is considered as the primary driver influencing the growth of the smart solar services market. Presently, North America contributes the maximum market share North America is expected to have the largest market share & would dominate the smart solar market from 2015-20, with growing no. of smart solar projects, increasing smart solar meter roll outs, & increasing grants & solar subsidies from the U.S. govt.. APAC & Middle East & Africa offers potential growth opportunities due to the developing large-scale infra, growing no. of smart city projects, & growing energy requirements. Major vendors covered in the smart solar market for this study include ABB Group, GE Power, Itron Inc., Schneider Electric, Siemens AG, Echelon Corporation, Landis+GYR AG, Sensus USA Inc., Silver Spring Networks, & Urban GreenEnergy Int’l. Smart solar market can be segmented on the basis of Solutions like asset mgt., network monitoring, meter data mgt., analytics, SCADA, remote metering, & outage mgt. Services like system integration & deployment, support & maintenance, consulting, & demand response services Applications like commercial & industrial, residential, Industry Sectors like govt., utilities, healthcare, construction, education, agriculture, others & Geography.

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