Solar Chargers: How Are Solar Power Businesses Dominating the Industry with Smart Investments in Latest Technologies?

Key takeaways:

• Introduction
• Latest developments in the solar charger industry
• The rise of the industry in North America

Over the past few years, as the issue of global warming and climate change has intensified, the shift toward renewable energy sources has increased exponentially. The main focus area in this shift to renewables has been on the industrial sector as it is one of the largest users of fossil fuels for energy generation. However, in recent times, environmentalists and economists have raised concerns that while the industrial sector has been quick to accept this change to renewables, the household sector, which is a major consumer of conventional fossil fuels for daily use, is yet to make substantial changes in its consumption patterns.

As per studies, a large chunk of electricity consumption goes into charging electronic appliances which increases the carbon footprint of the household consistently. Hence, using renewable energy to charge electronic gadgets and electrical appliances is one of the surest ways to bring down the greenhouse gas emissions of the household sector. To support this shift, several consumer electronics companies have developed solar chargers to supply electricity to electrical devices.

Advancements in solar chargers to reduce greenhouse gas emissions from the household sector

A typical solar charger consists of miniaturized solar panels that are made from photovoltaic cell blocks for producing electricity. Just like in the case of conventional solar panels, when photons from sunlight hit these PV blocks, they get absorbed and the semiconductor material in these panels converts them to electrons. Their flow generates electricity which is used to charge electronic devices.

Solar chargers have become quite popular in the past few years due to several advantages like zero operating cost, use of clean energy, minimal maintenance costs, cheap alternatives to conventional battery packs, etc. However, one problem regarding the use of solar chargers is their bulky size which makes it hard to carry them to different places. To address this issue, solar technology companies are now increasingly developing advanced solar chargers to cater to the demands of the household sector. Recently in 2023, Namene, a solar power technology provider, announced the launch of Zafi charger, a lightweight portable solar charger that is capable of charging a wide range of electronic devices from mobile phones to fans.

Another trend witnessed in the solar charger market is the development of high-efficiency solar panels for charging electric vehicles. Environmentalists and automobile experts have commented that solar chargers have the potential to make the EV revolution truly non-polluting in nature. To increase their presence in the industry and address the growing demands of their customers, solar technology companies like GoodWe launched advanced solar chargers designed for electric vehicles. This product, which was launched in 2022, has smart charging functionalities and allows users to charge their electric vehicles either directly through rooftop PV systems or via a battery storage system. Both single-phase (7 kW) and three-phase (11/22 kW) variants have been launched by the company.

Growing focus on renewables to have a positive impact on the industry in North America

The solar charger industry is expected to witness huge growth in the North America region in the coming period due to various reasons. Firstly, the rising awareness regarding the importance of environmental sustainability has led to an increase in demand for eco-friendly power generation solutions. This has led to many people in this region shifting to renewable energy sources to charge their electronic devices, electrical appliances, and electric vehicles which is expected to help the market flourish in the years to come.

Additionally, the governments in North American countries have launched several initiatives and schemes to promote the use of renewables like solar power. This has helped private companies invest in solar technologies and develop products that harness solar energy for energy generation. The governmental support for solar power has thus laid the foundation for several R&D activities which have opened numerous growth opportunities for the industry.

To sum it up, the development of portable solar chargers and solar charging systems for electric vehicles has increased the revenue share of the industry in recent times. The advantages offered by these charging systems and the growing awareness regarding environmental sustainability are expected to augment the landscape’s growth rate in the near future.

For a comprehensive study on the different growth drivers and investment opportunities in the industry, feel free to contact us.

 

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