With minds starting to drift towards the hope and expectation of a sunny summer holiday, the focus on the sun and all the benefits it brings is a hot topic of conversation in technology sectors. This conversation is becoming increasingly loud in construction circles as products are now developing far beyond the solar panels we have all become accustomed to. Solar power is supporting other new technologies and helping them to overcome certain barriers that may be restricting their market penetration. A fine example is demonstrated by Assa Abloy’s Share Technologies division that has been focusing on ‘energy harvesting’ and developing smart locks that are powered by solar and kinetic energies. The use of solar energy has also been pioneered by Tesla and with the recent announcement in the US that Tesla’s Solar Roof System has achieved compliance with the code requirements of the International Building Code, the system’s move into the roofing market will accelerate. This comes at an interesting time for our own conservatory market, or should I refer to it by its more fashionable and on-trend title ‘The Glazed Extension Sector’?
We have seen a massive change in the conservatory sector and nowadays it is dominated by some truly inspirational innovations. The growth of the solid roof variant has transformed the conservatory sector’s proposition. If you look at some of the products that Tesla plans to launch, you really can begin to envisage how solar energy and conservatory roofs are perfect partners. It’s one of those marriages that you know is made in heaven, but may need a little encouragement! The pleasing aspect is that we know it will happen and when it does, it will revolutionise further the conservatory roofing sector. As with any tech-related fenestration innovation, time is needed for development. We are seeing a surge in interest and product availability for smart locking products. Although this has all taken time, the likelihood is that in the next 2 to 10 years smart locking products will be the standard offering on windows and doors.
The evolution of the conservatory market has been slightly faster paced and the signs are that this is set to continue. A key target audience ‘the stay-put generation’ are very active in this market. Typically aged between 38-55, these people purchased their houses in the boom years and with growing families could really do with moving again. However, with high house prices and stamp duty, a move may be unaffordable. Market data has revealed that last year 221,800 households increased their mortgage to free up funds, a massive jump from 146,000 in 2013. The equity-release market is now worth £41.3bn and estimates are that one in every five homeowners is using the funds to finance home improvements that offer more space. It’s not just householders looking to create space, the data also reveals that remortgaging for home improvements is also growing in popularity amongst fifty-somethings, who instead of downsizing, are re-vamping their properties with items such as new windows and doors. For hardened industry folk it will always be the ‘conservatory market’. However, if it means more orders and sales, I think we’ll all be happy to call it the ‘glazed extension market’. Whatever the description, products are in abundance to wow your customers well into the future….