The increasing consumption of conventional energy sources such as natural gas and oil products are one of the most prime issues and concern of 21st century. The limited availability of conventional energy sources has raise awareness about using other non-conventional and alternative energy sources. In coming years society is expected to experience an increased preference towards adoption of alternative energy sources such wind, solar and tidal. Solar energy is one of the most abundant and vastly available non-conventional energy sources
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Smart solar technology is the improvement on existing solar technology with enhanced functionality of components and ability to synchronize with the currently available systems. It offers improved functionality, operational efficiencies, optimized performance and low maintainability. Smart technology provides optimal utilization of available energy, resources with dramatically lower wastage. It enables components with real time monitoring, analytics and communication efficiency, which enables them to deliver improved operational performance and control. Increasing demands for efficient non-conventional energy management solutions across the globe in both developing and developed regions in coming years, will provide ample opportunity of growth for various smart solar solutions and services providers.
Increasing regulatory compliances and government initiatives for adopting non-conventional energy sources along with increasing electricity tariffs and gas prices are some of the factors that are driving the smart solar market. High initial investment cost, low awareness about technology and low Return on Investment (RoI) are few of the reasons that may slow down the adoption of smart solutions among various industry verticals and domains. Evolving solar technology, growing environmental awareness and concerns...