The Analysis of Solar Street Light Industry in India
April 08, 2023
The Solar Street Light industry in India is a rapidly growing sector, with the potential to provide significant benefits to both the country and its citizens. Solar street lights are a clean, renewable source of energy that can help to reduce India's reliance on fossil fuels. They are also more efficient than traditional street lights, and can save money on energy costs. In addition, solar street lights can help to improve public safety by providing better lighting in areas that are prone to crime. The Indian LED lighting market is expected to grow at a CAGR of 24.3% during 2021-2026. In the current market state, LED has become the mainstream of the lighting market. Key factors behind this are the continued decline in LED prices in the country and favorable government initiatives such as UJALA and SLNP, which offer LED and LED installation projects for street lighting respectively at subsidized costs. For example, in April 2019, 210 million LED light bulbs were distributed in the country under the Indian government's energy efficiency scheme, saving consumers INR 110 billion. State-run Energy Efficiency Services Ltd (EESL), which has implemented the UJALA scheme to distribute LED bulbs to consumers, has reduced the purchase price of these lamps to Rs 38 per unit. The plan aims to deploy more than 770 million LED lights across the country by 2020.
Apart from this, increasing cost-effectiveness and environmental awareness of LED lights among consumers is expected to continue to drive the demand for LED lighting in both residential and commercial sectors. In recent years, India has demonstrated the possibility of rapid large-scale deployment of LEDs with appropriate financing and market mechanisms. Following the UJALA programme, India is now one of the largest LED lighting markets in the world, offering LED bulbs that are 50% more energy efficient than other available luminaires. However, the market has been impacted by the recent outbreak of COVID 19, and companies have been forced to adjust their strategies to deal with the ongoing pandemic. Companies like Telensa and signify have been hit hardest by the pandemic. In February 2020, Signify plans to upgrade its solar-connected street lights with a Philips Combo Charge Controller to switch between solar and grid. But due to the COVID outbreak, the company was already in financial trouble, announcing in March 2020 that it was taking a 20% pay cut for its staff. The Indian solar street light market is expected to reach a value of $2.5 billion by 2025. This growth is being driven by a number of factors, including the increasing availability of solar power, the falling cost of solar panels, and the government's support for the solar energy sector. The solar street light industry in India is made up of a number of different players, including manufacturers, distributors, and installers. The leading manufacturers of solar street lights in India include Tata Power Solar Systems, Luminous Power Technologies, and Vikram Solar. The leading distributors of solar street lights in India include Havells India, Crompton Greaves Consumer Electricals, and Bajaj Electricals. The leading installers of solar street lights in India include Tata Power Solar Systems, Luminous Power Technologies, and Vikram Solar. The solar street light industry in India is facing a number of challenges, including the high cost of solar panels, the lack of awareness about solar energy, and the lack of skilled manpower. However, the industry is also seeing a number of opportunities, including the increasing demand for solar energy, the falling cost of solar panels, and the government's support for the solar energy sector. Overall, the solar street light industry in India is a promising sector with the potential to provide significant benefits to both the country and its citizens. The industry is facing some challenges, but it is also seeing a number of opportunities. With the right support, the solar street light industry in India has the potential to grow rapidly in the coming years. Here are some of the benefits of solar street lights: They are a clean, renewable source of energy. They are more efficient than traditional street lights. They can save money on energy costs. They can help to improve public safety by providing better lighting in areas that are prone to crime. Here are some of the challenges facing the solar street light industry in India: The high cost of solar panels. The lack of awareness about solar energy. The lack of skilled manpower. Here are some of the opportunities for the solar street light industry in India: The increasing demand for solar energy. The falling cost of solar panels. The government's support for the solar energy sector. The above content is provided by WOSEN. WOSEN is a professional manufacturer and supplier of Led Flood Light, Led Street Light, Led Solar Light, etc. For more information, please visit https://www.wosenled.com/ or contact admin@wosenled.com or WhatsApp +86-13425434349
