Smart Solar Market Trends and Strategic Focus Report by Transparency Market Research

Transparency Market Research Report Added "Smart Solar Market" to its database.


Albany, NY -- (SBWire) -- 01/23/2015 --The increasing energy requirement leading to the depletion of natural energy resources, increasing electricity bills and pollution has created the need for the development of the energy management solutions that can monitor, forecast and control our energy consumptions and requirements. The advancements in the field of electronics and information technology have enabled the development of these devices. These devices are improving the already existing solar energy solutions by providing a way to improve their functional capabilities in terms of energy control and monitoring. The solar energy solution that includes various solar devices and other complete systems provides us the clean power, but lacks in areas associated with the power demand and supply management. The smart solar solutions include services related to smart metering and demand response management.

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The segmentation of the smart solar market can be done on the basis of components, services, solutions, applications and the location of the major smart solar equipments around the globe. The basic smart solar components include the smart metering devices, Supervisory Control and Data Acquisition (SCADA) systems, Radio Frequency Identification (RFID) and others. The major smart solar solutions include automated meter reading by the use of smart metering devices, energy monitoring by the use of Supervisory Control and Data Acquisition (SCADA) systems, to manage and forecast the energy consumption and production. The major services consist of the consulting and management services related to the smart solar. The smart grids are used to improve the operating characteristics of solar installations and individual devices in order to reduce maintenance costs & secure better grid stability as well as optimize performance and proper management of distributed generation. The major application areas of smart solar include the various solar panel installations in industries, homes, solar farms, solar vehicles and other solar devices. The various sectors for the application of smart solar technology include healthcare, transportation, construction and agriculture. The smart solar technologies in these applications will not only create increased demand for new smart solar services but also the smart solar enabled solar panels and other solar devices.

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The increasing research and development related to the field of smart solar technologies, the growing need for better monitoring of demand and supply for the purpose of forecast and cost management and the increasing investments by the companies are the major drivers to the smart solar market. The additional cost related to the deployment of smart solar technologies and high cost involved in the maintenance and manufacturing of smart solar devices are the major restraints to the smart solar market. The increasing solar panel installations in various countries can have direct implications on the smart solar market and thus can act as the opportunity for this market.

Some of the key players in the business of smart solar market are Siemens, Cooper Industries, GE Energy, Smart Solar Solutions LLC, Schneider Electric, Itron, HCL technologies, Intergraph, Smart Solar USA, Echelon and Sun Power.

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