Solar Roadways Overview:
- Solar Roadway (SR) is a modular system of specially designed solar panels whose primary purpose is to generate clean renewable energy on roadways or on any other surface that can be walked or driven.
- The panels have LED lights to create lines and unpainted signage, microprocessors that make them smart and allow the panels to communicate with each other, the central control station, and the vehicles.
- Solar roadway panels are made of specially formulated tempered glass that has a tractional surface which is equivalent to asphalt, which can support the weight of semi-trailers.
- Key advantages of Solar Roadways are, the roadways have solar panels underneath them that have benefits such as wireless charging, digitally assisting driverless cars, powering streetlights, signs, charging stations, and so on
- Solar Roadways market can be classified by material type as Monocrystalline Silicon and Polycrystalline Silicon
- Some of the key applications of Solar Roadways include parking lots, sidewalks, driveways, bike paths, playgrounds, garden paths, swimming pools surroundings, courtyards etc.
With sufficient infrastructure, all current centralized power stations can be replaced with Solar Roadways, which can become the smart grid for each nation
Solar Roadways Market Outlook:
- Possibility of significant expansion in The Solar Roadways industry during the forecast period exists owing to reduction in cost of solar photovoltaic components across the globe.
- During the forecast period the solar highway market in Asia Pacific is expected to expand at a rapid pace due to increasing demand for electricity in China, Japan, and South Korea.
- Major countries like China and France are increasing their focus towards R&D initiatives for the development of highly efficient photovoltaic materials to increase efficiency to convert solar energy into electric power.
- China is planning to implement “Autonomous Driving Future”, a solar integrated technology which consist of solar panels, mapping sensors, and electric battery rechargers.
- In addition, developing countries in Asia Pacific such as China, India, Indonesia, and Vietnam offer lucrative opportunities due to rising demand for solar photo voltaic panels for parking lots in the building & construction industry.
- In terms of share of the global solar highway market during the forecast period, Europe is likely to follow Asia Pacific due to increase in R&D investment in technologically advanced countries such as the Germany, France and the U.K.
Primary factors that drive the Solar Raday ways Infrastructure market are:
- High Maintenance and expensive concrete Roadways
- Converting parking lots into glossy solar surfaces
- Growing Demand for EV’s
- Fueling enough energy from the sun to power nearby communities
- Facilities to charge electric vehicles with clean energy from the sun
- Low accidental damages
- Water resistant
- Self -electricity generator
- Smart and superior physical characteristics of conventional roadways
- Value-added R&D in solar technology to offer attractive opportunities
Increasing demand for renewable energy across the globe is likely to fuel the solar highway market soon due to advancements in solar technology and improved R&D from major companies.
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Challenges disrupting the market:
- Need of high technology glass that will hold up in the fast lane of a highway
- Self-cleaning type of glass to cope with the grit and grime of heavy use over time
- Requirement of sophisticated energy storage capability
- High investment cost, need of complex glass manufacturing and assembling infrastructure for solar panels
- Chances of overheating of Solar panel which in turn may lead to energy efficiency loss.
- High maintenance cost
Solar Roadways Market Players Perspective:
- Solar Roadway panel market is fragmented in nature due to the presence of many manufacturers. It is characterized by the presence of many market players in the U.S, China, and Japan.
- Some of the key players operating in the Solar Roadways market profiled in this Avalon Global Research report are Solar Roadways, Inc (USA). Wattway (USA), Shandong Pavenergy (China),
- The U.S.-based Wattway Inc., a solar highway company has effectively developed & implemented a solar highway that can power LED lights and melt snow. This is likely to boost the demand for solar highway in the next few years.
- The market is highly competitive in nature with participants involved in continuous product innovation and R&D activities Energy.
- Some recent projects which give more pathways to future projects are;
- The Jinan City Expressway-China
- Dutch SONOB highway –Netherlands
- Solar roads in Tokyo for 2020 Olympics
Solar Roadways Research Scope:
The base year of the study is 2019, with a forecast up to 2025. The study presents macro analysis of the competitive landscape, taking into consideration the concept be new and evolving
These give the key market participants with the required business intelligence and help them perceive the long run of the Solar Roadways market.
The assessment includes the future trends, an outline of the competitive structure, future demand drivers, market challenges and products analysis.
Market drivers and limitations are evaluated to assess their impact over the forecast period.
The report further identifies key growth opportunities, while also detailing key issues and potential threat.