Pune, Maharashtra, India, November 10 2020 (Wiredrelease) Allied Analytics :The market is expanding rapidly. According to a report by Allied Market Research, the global solar vehicle market is expected to garner $329.5 million, with a CAGR of 43.3% by 2030. The augmented acceptance of the latest technology for vehicles has increased the demand for solar vehicles which leads to boost the growth of the market. On the other hand, the up surged trend of self-charging vehicles has propelled the growth of the solar vehicle market. Also, the increased income group amon
Solar Vehicle Market to Reach $4.08 Bn, Globally, by 2030 at 43.3% CAGR
New inventions and technological advancements have always wowed the world. Utilizing the suns eternal and most sustainable source of energy for various purpose was one among such. However, nobody knew that solar energy can also be used to run a vehicle. Though solar vehicles are still in its infancy, however, it can become a potential alternative for green-minded consumers.
Solar vehicles are an electric vehicle that uses solar energy. The vehicle is based on photovoltaic cells made up of silicon that convert the sunlight into energy and further recharges the battery. The solar vehicle can also preserve some energy to function smoothly during the night or in the absence of sunlight. Moreover, other than being a reliable nature-friendly option, these sun-powered vehicles offer a number of advantages over the fuel-based vehicles. So, lets dive into some of these advantages.
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Preserves natural resources:
Apart from the resources required to manufacture the vehicle, panels, and other types of machinery, solar vehicles do not require any additional energy contribution. The reliance on solar vehicles on petroleum products is limited for lubrication purposes for wheels. Other than this the sun-powered vehicle doesnt require fuel, or oil, as the motor and other types of machinery in the solar vehicle are maintenance-free, as compared to the fuel-based vehicles.
Electric-based solar vehicles dont require any fuel, which causes no emissions. This is one of the most essential aspects of solar vehicles, as it makes the vehicle more attractive and environmentally friendly. The solar vehicle can help the motorists to have an emission-free vehicle, which reduces air pollution and greenhouse gases.
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Low fuel costs:
The lack of dependence on the solar vehicle on fuel sources makes it free from the associated costs. On the other hand, unlike other conventional vehicles, solar vehicles have a low maintenance cost, which again reduces the costs.
The solar-based electric vehicles are composed of aluminum and other lightweight material, which makes it run faster and smoothly as compared to conventional vehicles. On the other hand, the electric motors used in solar vehicles are usually smaller than the corresponding gas engines. These engines, therefore, generate no noise and less vibration.
Owing to clean energy, fewer uses of resources, and other advantages, solar vehicles are gaining traction as a