Solar Street Lighting Market Size

Solar Street Lighting Market size

Solar Street Lighting Market size was valued over USD 3 billion in 2017 with annual installations to exceed 9 million units by 2024

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Stringent regulatory reforms toward sustainable infrastructure development coupled with global commitment pertaining to climate change mitigation will stimulate the solar street lighting market growth. Rising private and public funding through various schemes, investments along with proposed long-term legislative programs pertaining to the electrification of off-grid areas will foster the industry growth. In addition, burgeoning awareness toward renewable energy assets accompanied by aggressive regulatory mandates to curtail carbon emissions will positively impact the business landscape

Rising potential of solar technologies coupled with growing demand for clean energy sources will drive the industry growth. Increasing investments toward refurbishment of conventional electricity generation sources along with rapid technological advancements toward product efficiency, flexibility and operation will stimulate the product demand. In addition, continuous innovations, declining battery costs and advancement in product design have substantially lowered the remote areas lighting component prices, making it a required alternative for households and municipalities.