Off-grid solar lighting products are rapidly becoming the primary mode of illuminating remote areas in developing and under-developed countries where grid infrastructure is either non-existent or is highly unreliable and incompetent. Nearly 18% of the world’s population had no access to electricity as of 2013, making the demographic directly dependent on solid fuels such as coal and wood and liquid fuels such as kerosene for lighting purposes.

Of these, kerosene takes a major share and is estimated to account for nearly US$30 bn in expenses directly incurred by millions of households across the globe every year for lighting purposes only. Off-grid solar lighting products are efficient contenders to this supposedly cleaner fuel (as compared to solid fuels such as wood and coal) and are gaining increased attention from governments and consumers alike.TMR projects that by completely replacing kerosene with off-grid solar power products, the annual costs on lighting incurred by the world’s off-grid population can be brought down by 10% to 15%. Savings of this level can have a major impact on the overall development of developing economies. Environmental benefits of switching to a cleaner energy source such as solar power are also vast.

Read Report Overview @ https://www.transparencymarketresearch.com/off-grid-solar-lighting-market.html

Owing to these factors, governments are focusing on raising consumer awareness about the increased use of off-grid solar lighting techniques and promoting the development of more efficient products by initiating funds and tax-abatements for vendors. The rising prices of kerosene,

Solar Lanterns to Rank High in Consumer Preference List

Solar lantern systems and solar home systems are currently two of the most popular off-grid solar lighting products in the market. Of these, solar lantern systems have been more preferred than solar home systems in the past years, majorly owing to portability, low cost, and fewer constituent elements in these systems, which make their maintenance easy. TMR states that 6.42 mn units of solar lantern systems were sold across the globe. With 3.56 mn units sold in the global market in the same year, solar home systems accounted for a comparatively low share in the market.

Request Report Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11273

Over 2014-2024 as well, solar lantern systems will be the dominant product type and their sales are expected to rise to 47.53 mn units by 2024. Sales of solar home systems are projected to rise to 34.44 mn units by 2024. In terms of revenue, the market for solar lantern systems is expected to rise from US$386.31 mn in 2014 to US$2360 mn by 2024

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Mr. Rohit Bhisey
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com