Global Solar Water Pumps
Market stood at USD484.46 million in 2021 and is forecast to grow at a CAGR of 8.46%
by 2027. A solar water pump system is
basically an electrical pump system that is powered by one or more Photovoltaic
(PV) panels. A typical solar pumping system includes a solar panel array that
runs on electricity, which in turn powers a bore or ground pump. Moreover, it
operates on the photovoltaic principle. PV (photovoltaic) systems absorb
radiant solar energy and convert it into electricity while a solar pump is
operating. This generated electricity for the entire system is used for many
purposes such as irrigation, potable drinking water and community water supply.
Rising Environmental
Consciousness and Growing Demand to Reduce Reliance on Fuel Sources
The growing use of solar
water pumps in areas without grid electricity is propelling the solar water
pump market through 2027. Farmers in India, for example, are increasingly using
solar pumps for irrigation due to unplanned power outages, with government
assistance in the form of subsidies. Such policies to encourage the use of
solar pumps, combined with stringent government regulations on carbon
emissions, are boosting the growth of the market. Numerous advantages provided
by solar water pumps, such as higher efficiency, cost-effectiven