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Hybrid Power Solutions Market Segmented by Type, Top Manufacturers, Geography Trends & Forecasts to 2024

Author : Ronak Bora | Published Date : 2020-09-09 

Hybrid power solutions market is estimated to be driven by growing demand for reliable and uninterrupted power supply coupled with shifting trends toward integration of sustainable energy technologies. Positive outlook towards adoption of renewable energy assets along with supportive government initiatives and regulations for decarbonization reforms and other energy security measures will foster hybrid power solutions market trends over the coming years.

In addition, subsidized power project development prices in order to reduce component costs along with increasing requirement for renewable energy is estimated to further boost industry growth. For instance, Indian government initiated the promotion of hybrid power generation by providing a subsidy of USD 1,450 per kilowatt to community users in 2010.

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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.

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.

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.

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.

In the year before last, Swedish power giant Vattenfall, commenced its construction project as a part of its first solar project in the . Located on the site of a signature Vattenfall’s windfarm in Wales that has been operational for near about 14 years, this Parc Cynog Solar Farm of 4.99MW is marked as a breakthrough project in UK hybrid power solutions industry. If reports are to be relied on, this is a part of a pilot project by the company, as it seeks to maximize the renewable energy generation potential from its existing sites in UK.

The year 2016 has proved to be a roller coaster of sorts for UK hybrid solar power solutions industry. Just few months after Vattenfall made its way to the headlines, Ecotricity, another formidable player in hybrid power solutions market, won approval for its new hybrid renewable energy project in Britain. Reportedly, the green signal to its sun parks’ project in Devon and Dalby, gave Ecotricity a scope to expand its already existing portfolio in the lucrative business space. Sources also claimed that through this deal, the company even planned to generate 100 MW power from its solar-wind portfolio.

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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 Contents (ToC) of the report:

Chapter 5 Hybrid Power Solutions Market, By End Use

5.1 Hybrid power solutions industry share by end use, 2017 & 2024

5.2 Residential

5.2.1 Global market from residential, 2013 - 2024

5.2.2 Global market from residential, by region, 2013 – 2024

5.3 Commercial

5.3.1 Global market from commercial, 2013 - 2024

5.3.2 Global market from commercial, by region, 2013 – 2024

5.4 Industrial

5.4.1 Global market from industrial, 2013 - 2024

5.4.2 Global market from industrial, by region, 2013 – 2024

Chapter 6 Hybrid Power Solutions Market, By Technology

6.1 Hybrid power solutions industry share by technology, 2017 & 2024

6.2 Solar-Wind-Diesel

6.2.1 Global market from Solar-Wind-Diesel, 2013 - 2024

6.2.2 Global market from Solar-Wind-Diesel, by region, 2013 – 2024

6.3 Solar-Wind

6.3.1 Global market from Solar-Wind, 2013 - 2024

6.3.2 Global market from Solar-Wind, by region, 2013 – 2024

6.4 Solar-Diesel

6.4.1 Global market from Solar-Diesel, 2013 - 2024

6.4.2 Global market from Solar-Diesel, by region, 2013 – 2024

6.5 Wind-Diesel

6.5.1 Global market from Wind-Diesel, 2013 - 2024

6.5.2 Global market from Wind-Diesel, by region, 2013 – 2024

6.6 Others

6.6.1 Global market from Others, 2013 - 2024

6.6.2 Global market from Others, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/hybrid-power-solutions-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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