Solar Home System Market Definition
Solar home systems are the technology used in the homes for energy consumption, the system is the photovoltaic systems that provide the cost-effectiveness in the supply of power for amenities like lighting and other home appliances. The solar home system consists of various components like solar panels, solar array mounting racks, array DC disconnect, inverter, battery racks, and other parts of the systems in the home. These components help in converting the power in AC current supplied for the appliances o be used and maintaining safety.
The market study is broken down, by Application (Online and Offline) and major geographies with country level splits.
Greenlight Planet Inc. (United States), M-KOPA Solar (Kenya), NIWA SOLAR (Hong Kong), Schneider Electric (France), Renewit Solar Limited (Hong Kong), Sunrun Inc. (United States) and ENGIE (France) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Solar Home System market by Type, Application and Region.
On the basis of geography, the market of Solar Home System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Solar Panels will boost the Solar Home System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity Range, the sub-segment i.e. 1 Kw will boost the Solar Home System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 3rd September 2019, Engie expands presence in Africa with the acquisition of Mobisol. Already active through subsidiary Fenix International and start-up Engie PowerCorner, the French energy giant is expanding further by acquiring Mobisol, an off-grid systems specialist with operations in Kenya, Tanzania, and Rwanda.
On 7th July 2020, Sunrun to Acquire Vivint Solar, Creating Home Solar Giant. The leading U.S. home solar installer will gobble up its biggest rival, in a significant consolidation for the industry. The acquisition would roll together two companies with significantly overlapping business models and similar visions for a distributed energy future. Though Sunrun and Vivint Solar have slightly different geographic coverage areas, both install rooftop solar across much of the country through leases, loans, and direct sales.
- Introduction of the IoT based Solar Home System
- Continuous Research and Development in the Solar Technology
- Demand for the Energy Efficient and Sustainable Home System
- Increasing Need for Energy Consumption Worldwide
- Rising Energy Consumption Awareness Through Government Program will Boost the Solar Home System Market
- High Cost Associated with the Installation of Solar Home System
- Lack of Reachability and Affordability of Solar Home System in Under Developing Economies
Key Target AudienceSolar Home System Manufacturers, Solar Home System International Traders, Solar Home System Distributors and Suppliers, Research and Development Institutes, Regulatory Bodies, Potential investors and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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