The rising pace of urbanization has drastically increased the need for outdoor lighting solutions. At the same time, the launch of smart city initiatives in various metropolitan cities and urban areas has further surged the need for different electronic products that provide high-quality illumination. Furthermore, in the past few years, several countries have signed multinational agreements to reduce the carbon footprint of their economy and achieve net zero goals in the latter half of this century. Naturally, to achieve these targets, these governments have enacted laws and regulations promoting renewable energy sources. As a result of all these developments, the demand for and production of outdoor solar LEDs has expanded significantly.
Modern smart city projects powered by outdoor solar LEDs
Over the years, as more people have started migrating toward major metropolitan cities, governments and local authorities have launched smart city initiatives that focus on improving the standard of living of residents in that particular urban area. Outdoor solar LEDs have become an important component of such initiatives as they offer energy-efficient, affordable, and environmentally sustainable illumination solutions. These lighting devices feature a solar panel that converts solar energy into electricity, which is then used to power the LED lamp attached to it. The cost of electricity generation and the carbon emissions associated with street lighting is reduced exponentially with the use of these ingenious gadgets.
Furthermore, the outdoor solar LED market has witnessed several technological advancements that have created new investment opportunities in the industry. For instance, many solar panel manufacturers are gradually shifting to perovskite and thin-film PVs which have much higher absorption capacities. As a result, the panels manufactured using these innovative materials have even better energy efficiency, thereby making them ideal for public areas with low light conditions. Similarly, outdoor solar LEDs with anti-reflective coatings have also become quite popular as they are better at trapping incoming sunlight, thus enhancing the electricity output.
At the same time, the development of high-efficiency LEDs which have better illumination capabilities has also played a major role in the growth of the industry. These solutions offer better color rendering, wider illumination angles, and improved visibility which makes them perfect for street lighting in outdoor areas such as parks, roadways, walkways, etc. Moreover, solar LED manufacturing companies have transitioned toward lithium-ion batteries to improve the performance of these devices. Lithium-ion batteries have much higher energy density compared to conventional lead-acid batteries. Hence, they convert sunlight into electricity in a more effective manner. Also, due to their low self-discharge rate, lithium-ion cells are much better at storing energy for long periods. As per Allied Market Research, the sector is expected to rise at a CAGR of 21.6% during 2023-2032 due to such innovations and technological developments.
Signify’s solar light hub promoting the expansion of the industry
In the past few decades, several multinational companies have launched innovative products, creating new avenues of growth in the sector. For instance, in May 2023, Signify, a leading player in LED lighting systems, announced the launch of Philips Solar Light Hub in India. In its first retail store, the company aims to promote the idea of solar LEDs and encourage their use. Located in Noida, the store features lighting solutions for different spaces including gardens, industrial facilities, roadways, etc.
To conclude, the affordability and reliability offered by outdoor solar LEDs have made them a popular lighting solution for public spaces. Since these devices have higher energy efficiency and offer an eco-friendly alternative, many governments across the globe have started using solar LEDs as part of their smart city projects. The technological advancements in solar PV technologies, lithium-ion batteries, etc., are predicted to strengthen the position of the industry in the coming period.
𝑨𝒓𝒕𝒊𝒄𝒍𝒆 𝒘𝒓𝒊𝒕𝒆𝒓: Akhilesh Prabhugaonkar
Author Bio:
Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of interest and various other societal issues. His love for writing made him enter the professional world of content writing and pursue his career in this direction.
