The surging need for clean and renewable energy in the industrial and residential sectors is massively pushing up the demand for monitoring and tracking the consumption, production, and transmission of solar energy to improve the overall efficiency. Due to this factor, the adoption of smart solar solutions is soaring rapidly across the world as these solutions play a major role in reducing the electricity expenditure and increasing the efficiency of the components used for producing solar power. This is achieved by the real-time monitoring of these devices. 

Apart from the advancements in the IT and electronics sectors, the surging initiatives being taken by the governments of various countries are also fueling the rise in the sales of solar power panels. For example, the U.S. government recently launched the investment tax credit (ITC) or the federal solar tax credit for promoting the adoption of solar panels in the country. Under this tax credit, the citizens of the country are provided a subsidy of 26% of the total cost of installing a solar energy system from the federal taxes.

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The major application areas of the smart solar solutions are the commercial and industrial and residential sectors. Out of these, the adoption of these solutions is presently being observed to be the highest in the commercial and industrial sector. This is credited to the fact that the smart solar solutions and services have very high costs of deployment and are thus not extensively used in residential applications. Moreover, the high costs of these solutions make them unaffordable for many residential applications. 

Apart from North America, the Asia-Pacific (APAC) region is also observing large-scale usage of these services, on account of the rising popularity of renewable energy in the region and the increasing government initiatives being taken in the various APAC countries such as India, Japan, and China for encouraging the adoption of solar energy.

Therefore, it is clear from the above paragraphs that the demand for smart solar solutions will surge across the world in the coming years, mainly because of the growing adoption of solar energy in the commercial, industrial, and residential sectors throughout the globe.