Rising renewables investment to power solar panel cleaning market
It is estimated that the solar panel cleaning industry may register greater prominence on account of enhanced emphasis toward improving power conversion efficiency in solar plants. Increasing adoption of concepts like decarbonization, decentralization, decoupling, distributed generation and digitization may fuel solar PV installation, thereby bolstering product demand across larger scale as well as commercial applications. Meanwhile, Global Market Insights, Inc. estimates that the global solar panel cleaning market may grow at a rate of over 14% by 2025.
Fast growing autonomous solar panel cleaning market
Following its emergence in numerous industrial landscape, automation is steadily marching towards the solar energy sector. In fact, studies suggests that the autonomous solar panel cleaning market may surpass US$ 1,080 million by 2025.
The use of drones and robots would allow faster and effective solar panel cleaning operations. Such technological advancements may help optimize the performance, power output of PV panels as well as reduce labor costs. Government regulations that aim on restricting the use of labor in harsh, high-temperature conditions may generate new proceeds in autonomous solar panel cleaning market.
Decarbonization of the power market as driver
Increasing federal initiatives focused on reducing dependency on fossil-based power generation, primarily to reduce carbon footprints and harmful emissions, would stimulate solar panel cleaning market. Soaring investments in solar energy generation, to increase the overall share in the total power generation and facilitate decarbonization of the energy sector, will complement industry outlook. According to reports, in 2018, investment in the solar energy accounted for around 605 of all new renewable energy investments.
Studies claim that Asia Pacific is endowed with vast untapped potential for solar energy generation. Governments in the region are funding heavily on ongoing large-scale PV projects. Ambitious renewable energy targets, favorable regulatory norms and feed-in-tariff programs may accelerate the deployment of solar panels.
Constant technological innovations
Constant technological innovations in the PV technology supported by government subsidies and incentives have aided the demand for solar panel cleaning systems in the region. Moreover, rise in addition of solar capacity owing to favorable regulatory environment and continuously declining PV panel cost may stimulate APAC solar panel cleaning market share. Citing IRENA reports, in 2018, the solar installed capacity across China reach around 175 GW, showing an upsurge of around 33% compared to prior attained capacity.
On a global scale, the solar panel cleaning industry includes key players like Solbright, Ecoppia, Clean Solar Solutions amongst others. Companies in this market are focused on providing dry cleaning technologies or techniques that utilize organic cleaning concentrates.
Partnerships with utilities
Profits generation through service provisions along with long term partnerships with utilities may enable major strategic breakthroughs in this industry. Moreover, increased emphasis on deploying solar farms in arid areas of Asia Pacific, and the Middle East & Africa (MEA) may offer lucrative growth proceeds to companies operating in solar panel cleaning market, the report states. (HCN)