In 2022, the smart solar market boasted a valuation of USD 9.7 Billion. Projections suggest that by 2032, it will surge to USD 22.3 Billion, exhibiting a compound annual growth rate (CAGR) of 8.8%.

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The driving force behind this growth is the escalating adoption of clean energy solutions to meet power demands. The Paris International Treaty for Climate Change, backed by 195 nations, mandates significant reductions in emissions to cap global temperature increases at 1.5°C above pre-industrial levels. Consequently, there's an increasing urgency to shift towards renewable energy sources to curb emissions.

According to forecasts by the International Energy Agency, solar and wind energy will lead the charge in global renewable energy expansion by 2028, owing to their cost-effective generation capabilities. Solar energy alone is anticipated to contribute more than 25% to global electricity generation. Smart solar systems offer a multitude of benefits, including integrated battery storage and heightened output when compared to conventional solar panels. Moreover, these systems feature sensors and software for monitoring panel health, furnishing consumers with valuable insights into their solar energy installations.

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