Solar Flower Market: Introduction
- Solar flower is an all-in-one ground-mounted solar system with a tracker that follows the sun
- It uses advanced robotics and automation to intelligently track the sun, making up to 40% more energy than traditional stationary solar panels. Furthermore, every day at sunset, solar flower automatically folds up and cleans itself to maintain peak solar utilization.
- Solar flower offers several unique features such as self-cleaning function
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Key Drivers and Restraints of Solar Flower Market
- Increase in awareness about the usage of solar energy and favorable initiatives toward promotion of renewable energy are major factors driving the global solar flower market
- Solar flower offers unique features that distinguishes it from other solar panel systems. It has a self-cleaning function, which ensures that dirt or other grime on the panels do not cause reduced energy production. Installation of the system takes just two to three hours, and disassembly is similarly easy. This is boosting the solar flower market.
- Implementation of stringent regulations to support environmental conservation is prompting the power industry to shift to clean and eco-friendly energy resources. Furthermore, the cost of electricity generated using solar energy is expected to decline in the near future owing to technological developments. This is anticipated to create lucrative opportunities for the solar flower market in the near future.
- High initial investments and lack of skilled professionals are major factors restraining the global solar flower market.
Schools & Universities Application Segment to Offer Significant Opportunities for Global Solar Flower Market
- The global solar flower market can be segmented based on connectivity, application, and region
- In terms of connectivity, the global market can be bifurcated into on-grid and off-grid. The off-grid segment is estimated to expand at a faster CAGR during the forecast period.
- Based on application, the global solar flower market can be classified into residential areas, schools & universities, recreational parks, mountainous regions, and others. The schools & universities segment is projected to expand at a rapid pace during the forecast period, owing to the large-scale installation of solar flowers in universities based in the U.S. and Europe.
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North America to Hold Major Share of Global Solar Flower Market
- Based on region, the global solar flower market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global solar flower market in 2018. This trend is likely to continue during the forecast period. Growth in investment in solar installation is the key factor expected to boost the market in the region in the near future.
- The U.S. dominated the solar flower market in North America in 2018. In August 2018, Virginia Wesleyan University became one of the first universities in the country to install the SmartFlower, a new type of solar paneling system.
- Asia Pacific is another important region of the global solar flower market. The market in the region is anticipated to expand at a prominent CAGR during the forecast period. In terms of revenue, China, India, Japan, Bangladesh, and Indonesia are key contributors to the solar flower market in Asia Pacific. High demand for electricity and low electric grid connectivity in Asia Pacific are driving the solar flower market in the region. Furthermore, supportive government schemes for renewable energy are fueling the market in the region.
- Europe is estimated to contribute significantly to the global solar flower market during the forecast period
Key Players in Global Solar Flower Market
The global solar flower market is highly concentrated, with the top manufacturers accounting for approximately 40% to 45% share. SmartFlower is a key player operating in the global solar flower market.
Major Developments
- In September 2019, SmartFlower launched its new integrated battery storage system, the Smartflower +Plus, at Solar Power International (SPI), a solar power conference, in Utah, the U.S. The Smartflower +Plus is a self-contained solar energy system with 5.5 kWh of battery storage and is fully integrated. The inverter for the Smartflower +Plus can work in both on- and off-grid situations. It an external generator input, and a built-in internal transfer switch that provides safe integration for grid-connected applications.
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Global Solar Flower market: Research Scope
Global Solar Flower market, by Connectivity
- On-grid
- Off-grid
Global Solar Flower market, by Application
- Residential Areas
- Schools & Universities
- Recreational Parks
- Mountainous Regions
- Others
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