The spotlight on renewable energy resources has risen significantly over the past few years. With the order of the environment declining as each day progresses, the excessive utilization of fossil fuels for energy generation, governments of different countries are now focusing and showing interest towards renewable energy resources.
In addition, the populace around the globe has been escalating at an extremely fast pace, and the declining rate of fossil fuels has made them inadequate to accommodate the energy needs of people after a few years. Credited to these factors, governments, as well as the common public, are trying to increase the share and widespread energy generated through ecological sources.
The solar energy sphere of influence is also constantly witnessing technical advancements, making the solutions more viable for people. Smart solar solutions are a significant technological advancement resulting in the rapid adoption of which is probable to increase speedily, thus driving the global smart solar market in the coming years.
Thus, today with Boaz Augustin Madurai, an environmentalist and ecological enthusiast, who believes to bring huge changes through the power of solar energy, we discuss quite an important topic in reference to using of energy resources.
What Is Smart Solar Technology?
Smart solar solutions essentially assist in increasing the effectiveness of solar components and reducing electricity expenses for users. These solutions help users monitor their energy consumption and communicate in real-time with the components, thereby enabling them to decrease the consumption of power. The chief reasons smart solar solutions are becoming popular are:
• Need for reducing the wastage of energy
• Need for increasing the efficiency of existing solar devices
Smart solar solutions are often incorporated into the already existing PV setup, to improve the functional capabilities, including controlling and monitoring, of these components.
Smart Solar Products
Generators, inverters, and PV cells are the major products via which smart solar solutions are deployed. Out of these, the request for PV cells is predicted to be considerably high in the years to come, which can largely be credited to technological advancements. Innovations in the PV cell technology have enabled manufacturers to decrease the cost of these products, thereby facilitating their increasing adoption. In addition to this, companies in the industry are making use of the triboelectric effect for the development of hybrid PV cells, which can generate electricity during rainy weather as well.
Smart Solar Solutions
The major smart solar solutions are:
• Asset management
• Remote metering
• Supervisory control and data acquisition
• Meter data management
• Network monitoring
in the red to the strict regulations and technological advancements in North America and Europe, the demand for asset management solutions is expected to be high in the coming years.
Need for Demand Response Services To Be High in Coming Years
Between two of the main smart solar services offered — demand response and consulting — the necessity for demand response is expected to be higher. This would be due to the intensifying need for energy across the globe. Demand response services aid in decreasing or shifting the power consumption during peak hours, as a response to time-based rates and other types of financial incentives.
In such a model, the utility company communicates with power consumers instantaneously, telling them when the electricity demand is high or low. During periods of low demand, the utility may decide to charge a lower price per unit, while during periods of peak demand, it might ask the customer to either pay a higher price or find ways of reducing their energy resources.
The rising attention and interest in renewable energy sources and increasing investments by governments are leading to the high adoption of smart solar solutions all across the globe.