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Growing Concerns Pertaining to Energy Consumption Raise Demand for Smart Solar Solutions

Press Release   •   Nov 29, 2016 04:57 EST

MarketResearchReports.Biz presents this most up-to-date research on “ Global Smart Solar Market 2016-2020 "

The research report, titled “Global Smart Solar Market 2016-2020,” discusses the future of the overall market and offers a comprehensive outlook. The research report includes an assessment of the drivers and restraints impacting the trajectory of the global smart solar market. The document has been compiled using primary and secondary research methodologies that ensure that the readers gets an accurate and an exact understanding of the market dynamics. The research report also includes comments and recommendations by expert leaders to guide the readers to make profitable business decisions.

According to the research report, the global smart solar market is expected to surge at a CAGR of 15.22% between the forecast years of 2016 and 2020. The global market will be driven by the growing awareness about the importance of solar energy in several nations as governments are striving to find sustainable energy solutions. Smart solar refers to improved version of current solar energy technologies. The enhanced versions are known to offer better support, integration, distribution, communication, planning, and monitoring capabilities. The advanced functions are expected to augment the demand for smart solar solutions in the coming years.

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The increasing support from governments for solar projects that are being developed for better energy management is expected to fuel the demand for smart solar solutions in the coming years. The mounting environmental concerns, increasing investments in smart grid technologies, and accuracy of billing have all made a significant contribution to growth of the global smart solar market in recent years. The global market is also expected to thrive as the cost of PV reduces and deployment of smart grids gains momentum. Distributed energy resources and energy storage is also anticipated to work in favor of the global market.

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The steady market drivers face a few restraints such as the reliability of smart solar solutions remains an unresolved question. High investments and maintenance costs are also dissuading end users. Furthermore, issues pertaining to data management and device replacement are also expected to restrain the overall market in the coming years.

Some of the leading players operating in the global smart solar market are Urban Green Energy (UGE) International, ABB Ltd., Echelon Corp., Schneider Electric SE, GE Power & Water, Siemens AG, Itron, Landis+GYR, Sensus USA, Silver Spring Networks, Sunnova, Solarcity, and Vivint Solar. The research report has assessed the research and development activities, business and marketing strategies, and investment plans of these companies for the coming few years. The research report also an analysis of the intensity of the competitive rivalry in the global market along with an understanding of the threat of new entrants to the existing players.