According to Navigant Research global market share for miniature solar photovoltaic systems, including pico solar and solar home systems, will grow from $538 million in 2014 to more than $2.1 billion in 2024. These systems are moving rapidly from specialized niches for solar enthusiasts and early adopters into the mainstream. They are particularly well suited for applications in the developing world where the provide lighting, cell phone charging and power for small direct current (DC) appliances in areas where the grid is unreliable or nonexistent.
“Although the majority of solar consumer product activity is, for now, in developing regions of the world, similar products are also emerging in the developed world in the form of solar PV generators and kits,” said Dexter Gauntlett, senior research analyst with Navigant Research. “NRG’s recent acquisition of Goal Zero exemplifies the growing interest in the sector among major corporations, with more acquisitions and strategic partnerships likely to follow.”
According to the report, in the developing world pico solar systems are providing new alternatives for people who previously had no choice but to pay high prices for low-quality and polluting fuel-based lighting, such as kerosene lamps. In addition to providing inadequate illumination, kerosene lamps pose significant health risks. The spread of pico solar systems gives these communities access to compact, clean, and affordable off-grid lighting and other electric devices.
The report, “Solar Photovoltaic Consumer Products”, analyzes the emerging global market for solar PV consumer products. It focuses on pico solar products and solar home systems, but also analyzes growth opportunities and key players for solar PV generators and kits. The report examines the distinct market issues for each product type in both developed and developing countries, including drivers and barriers, business models, and pricing trends.