Even though governments are beginning to move away from subsidising the use of solar and power technologies, there’s still a bright side to the industries’ futures.
According to market research company ABI Intelligence, growth will depend on the internet of things (IoT), and connected wind and solar installations will grow at a CAGR of 21 percent between now and 2020.
By 2020, connected systems will grow from below two million last year to 6.3 million in 2020.
How will the IoT boost these industries? ABI believes that the most important factor for growth are remote monitoring of energy production as well as condition monitoring of systems coupled to cloud based analytics.
And the impact of the IoT means there’s business opportunities because the remote monitoring market remains fragmented.
IoT features will be important not just for customers but for suppliers too, and cellular connectivity is going to play its part in boosting growth.