ASEAN Home Solar Lights

How big is the ASEAN solar lighting market?

The ASEAN solar lighting market size is expected to grow at a CAGR of 7.20% between 2023 and 2028. The major drivers of the market include introduction of incentives by various governments to promote the utilisation of solar operated electrical devices and the increasing demand for energy efficient lighting.

What are the key trends affecting the ASEAN solar lighting market?

Another crucial trend aiding the growth of the ASEAN solar lighting market is the low cost of solar lighting systems. The cost-efficient nature of solar lighting is expected to increase their utilisation over the forecast period. The zero costs of drop meters and grid power have made the adoption of solar lighting cost effective and preferrable.

What are the key components of solar lighting?

The essential components of solar lighting include solar panels, high-efficiency fixtures, controllers, and rechargeable batteries. The key trends boosting the growth of the ASEAN solar lighting market include the rising demand for decorative lighting in residential and commercial sectors.

How many solar panels are installed in Thailand in 2022?

According to the International Renewable Energy Agency, the total solar PV installed capacity accounted for 3060 MW in Thailand in 2022. The solar PV capacity is expected to grow in the forecast period as demand for renewable power and greener energy increases.