Sliding prices of components such as LEDs, batteries, and photovoltaic chips are prompting off-grid solar power product manufacturers in directing investments and funds towards the enhancement of technology, efficiency, and durability of their offerings states TMR in a recent report.
In the fragmented off-grid solar lighting market, featuring few large-scale vendors such as Koninklijke Philips N.V., OSRAM GmbH, Total S.A., and SunnyMoney, and several small- and medium-sized players, pricing of products is a major determinant of success.
Government initiatives in the form of tax abatements and tax-free loans are encouraging vendors to introduce highly cost competitive products; technology innovations and patented technologies are also being introduced at a rapid pace in the market and companies are launching products that can suit the diverse needs of consumers. Recently, in March 2015, market leader Koninklijke Philips N.V. launched the Philips LifeLight, which is a range of zero-energy solar powered LED lighting solutions.
The product range comprises two sophisticated pendant lights and a USB port for charging mobile phones that are connected to a solar panel. The lights in the product have demonstrated 10 times longer lasting light as compared to candles and kerosene lamps. Total S.A. launched an adaptable 48-volt solar house kit in January 2016, whose capacity can be extended with the addition of solar panels and batteries.
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