MarketStudyReport.com Adds New Hybrid Power Solutions Market 2018 – 2024 research report providing information and data By Technology, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 330 Pages with table and figures in it.
Selbyville, Delaware – January 10, 2019 —
U.S. hybrid power solutions market is projected to surpass the cumulative capacity of 900 MW by 2024. Increasing awareness toward standalone power generation units primarily for the consumption across residential establishments will foster the industry growth. Advancement in technology coupled with the growing need for uninterrupted power supply will complement the product penetration.
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Hybrid Power Solutions Market share is predicted to surpass USD 60 billion by 2024. Growing focus toward grid integration for renewable sources will stimulate the hybrid power solutions market. Increasing penetration of renewable technologies along with ongoing adoption of sustainable solutions will foster the business landscape. In 2017, Vestas, Tesla and Windlab has initiated the backup support to Clean Energy Finance Corporation for the construction of Kennedy Energy Park which will be capable to generate 60 MW of electricity from hybrid solar wind technology.
Paradigm shift towards decentralized power generation coupled with rising demand for environment friendly technology will complement the hybrid power solutions market share. Introduction of favorable regulatory norms including subsidies, leverage schemes and FIT?s will positively influence the product demand. In 2010, the government of India has initiated the promotion of hybrid power generation by facilitating a subsidy of USD 1,450 per kW to the community users.
Rising demand for clean fuel off grid electricity along with favorable regulatory measures to supply electricity to remote areas will foster the hybrid solar-wind power solutions market. Developers are significantly focusing toward the improvisation of capacity utilization factor along with shifting focus toward raising the dependency on effective and sustainable power generation.
Growing adoption of sustainable building codes and standards pertaining to energy efficiency along with development of advanced energy solutions for environment friendly buildings will propel the standalone hybrid power solutions market. In addition, the increasing adoption of low cost, smart integrated technologies and energy efficient systems will impact product adoption. In 2017, the U.S. has witnessed the development of community-based hybrid project powered by Juhl energy accounting for a capacity of 4.5 MW.
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China hybrid power solutions market will grow over 3% by 2024. Introduction of targets to overcome the growing electricity demand along with government measures toward installation of renewable energy systems will positively impact the industry growth. Economies of scale and technology advancement resulting in significant decline in component cost for renewable power generation stations will further stimulate the industry outlook.
Eminent players serving the hybrid power solutions market includes Tesla Windlab, General Electric, Blue Pacific Solar, Gamesa Wartsila, Unitron Energy, Polar Power, Zenith Power Systems, Star Sight, VONK, Vestas, Grupo Dragon, Danvest, Alpha Windmills, BWSC, A123 systems, FlexGen, and Sterling & Wilson.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Hybrid Power Solutions Industry Insights
Chapter 4 Hybrid Power Solutions Market, By Product
Chapter 5 Hybrid Power Solutions Market, By End Use
Chapter 6 Hybrid Power Solutions Market, By Technology
Chapter 7 Hybrid Power Solutions Market, By Region
Chapter 7 Company Profiles
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Global Hybrid Power Solutions Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
The Middle East & Africa is expected to dominate the global hybrid power solutions market during the forecast period, owing to government initiatives towards rural electrification and power generation through renewable sources. The region is expected to be the fastest growing market among other regions, during the forecast period. Solar-diesel segment is estimated to be the largest market owing to rising awareness and installation solar power systems across the globe, especially in developing countries. Combination of diesel with renewable energies (solar and wind among others), is expected to dominate the hybrid power solutions market during the forecast period.
Name: Arun Hegde
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Organization: Market Study Report
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
This news is published on Reuters.