Energy & Power Global Solar Pumps Market | Page 3

to get escalated from formulations of mandatory government regulations
regarding use of clean fuels in industries to curb the detrimental effects of
global warming.
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Environment and Energy Saving Concerns
Factors related to environmental concern such as carbon emission, global
warming and increasing consumer awareness regarding benefits of using
solar powered technologies are driving the growth of solar powered
products. Further, wide range applications of solar pumps such as drinking
water supply, drip irrigation, pond management, aquarium and swimming
pool water circulation are expected to bolster the growth of global solar
pumps market in near future.
Favourable Government Initiatives and Programmes
Governments of developed countries are encouraging the solar energy
generating additions. For instance, U.S. has observed and inclination in its
solar energy additives from 4% to 39% from 2010 to 2016. These
encouragements are increasing the consumer awareness which is further
anticipated to increase the demand for solar pumps. For instance, Indian
government announced a target to install 1 million solar water pumps,
equivalent to approximately 3,000 MW, for irrigation and drinking water
by 2021. However, availability of alternative technologies and high required
initial investment are some of the factors that are likely to inhibit the
growth of the solar pumps market in the near future.
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