Solar air conditioning systems are the devices, which uses the solar thermal energy that gives out conditioned air from thermally driven refrigeration process. The deployment of conventional air-conditioning devices which excesses the power grid and causes service disruptions. The usage of conventional air conditioning devices drives the concerns over environmental pollution, which adversely influences the climate. The growing demand for energy coupled with government endowments and subsidies for adopting policies, solar devices, and regulations such as renewable portfolio standards. Additionally, the growing focus on renewable energy as important source for energy generation is bolstering the demand for solar air conditioning market.
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Which positive factors is driving growth of the market? Moreover, what are the potential drivers of the market?
The rising consumption of electricity for using air-conditioning is increased theatrically globally. This usage of solar energy for air-conditioning as an alternative to the electricity an array of alternatives and a massive untapped potential for market players. The technology is relatively new and the global market for solar air-conditioning is in its budding stage. These factors are boosting growth of the global solar air conditioning market.
Despite, strong interest of investors in this new technology is manifest. Also, the shortage of knowledge about availability of this technology is hindering growing as they are emphasizing more on the development of modified training programs. Adoption of alternatives and growing exploration of alternatives are offering opportunities for growth of the global solar air conditioning market.
Which is the key consumer of the global solar air conditioning market?
Europe is anticipated to hold a leading share in the global solar air conditioning market due to initiatives by the numerous governments in the regions for increasing usage of renewable sources of energy. Countries such as Germany, France, Greece, and Spain are increasingly adopting the deployment of solar air conditioning devices at very small-scale especially for commercial buildings.
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