+1-888-308-5802     
News Contact Us

Hybrid Solar Wind Energy Storage Market Analysis by Business Tactics and Regional Growth Drivers to 2024

Author : Ronak Bora | Published Date : 2020-09-10 

UK hybrid solar wind energy storage market share will witness growth owing to positive outlook toward renewable energy economy structure by increasing their dependency on effective, reliable and sustainable power generation sources. Technological innovation in design of renewable systems to enhance capacity utilization factor will further augment the industry growth.

Advancement in technology along with introduction of targets and norms to minimize carbon emissions will drive the Australia hybrid solar wind energy storage market share. In 2017, Vestas introduced utility scale project that has ability to generate 15MW of solar & 43.2 MW of wind energy and 2MW battery storage.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2438

Hybrid solar wind energy storage market size is expected to cross a capacity of 1GW by 2024. As initiatives for renewables adoption increase across myriad geographies, hybrid solar wind energy storage industry is expected to witness a tremendous surge in terms of volume and sales.

Mounting government support with regards to the adoption of renewable energy has majorly propelled hybrid solar wind energy storage market. Regulatory bodies across the globe have set strict deadlines to drastically diminish the amount of greenhouse gases and to create a sustainable environment for the future of the planet. This has resulted in such initiatives like the EU 20-20-20 established in 2014, aimed at reducing greenhouse gases, increasing the renewable energy, and improving energy efficiency, each by 20% by the year 2020. Other regional governments are also catching up quickly on the trend, augmenting hybrid solar wind energy storage industry. For instance, the Ministry of New and Renewable Energy of India is planning to build the world’s largest solar-wind hybrid mega project that will have a capacity of 160 MW, with the help of funding by the World Bank.

Such large-scale projects not only validate the potential of renewable energy generation using hybrid systems but also the importance of energy storage. It thus goes without saying that the growth of hybrid renewable energy industry and hybrid solar wind energy storage market is directly proportional. The combination of two major renewable energies is slated to ensure a reliable and flexible source of energy as compared to standalone solutions. The storage system ensures resilient solution for providing energy even when faced with prolonged cloudy days with low wind speeds.

Rising awareness toward adoption of renewable technologies coupled with growing electricity demand primarily across the commercial and residential establishments will stimulate the U.S. hybrid solar wind energy storage market. In 2017, General Electric joint ventured with Juhi Energy to build 4.6MW of community-based hybrid project consisting of both wind and solar technologies across Minnesota.

Grid connected segment is predicted to witness growth owing to favorable government measures to promote the deployment of sustainable technologies. Carbon credit, net metering and feed in tariff are some of the incentives introduced by government to promote adoption of clean energy systems. Rising concern to get reliable and continuous supply of electricity to execute daily business operations effectively will further complement the business outlook.

Introduction of several norms pertaining to hybrid energy will positively influence the India hybrid solar wind energy storage market. In 2016, India introduced National Wind-Solar Hybrid Policy to achieve installations of 10 GW hybrid by 2022. The country also announced to invest USD 155 million to construct 160 MW project.

Request for customization @ https://www.gminsights.com/roc/2438

Eminent participants in hybrid solar wind energy storage market includes Siemens Gamesa, UNITRON, Grupo Dragon, ReGen Powertech, General Electric, Goldwind, Suzlon, Blue Pacific Solar, Vestas, Vattenfall, Tesla and Zenith Solar Systems.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1   Methodology

1.1.1    Initial data exploration

1.1.2    Statistical model and forecast

1.1.3    Industry insights and validation

1.1.4    Market definition and forecast parameters

1.2   Data Sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2   Executive Summary

2.1   Hybrid solar wind energy storage 3600 synopsis, 2013 – 2024

2.1.1    Business trends

2.1.2    Product trends

2.1.3    End use trends

2.1.4    Regional trends

Chapter 3   Hybrid Solar Wind Energy Storage Industry Insights

3.1   Industry segmentation

3.2   Industry landscape, 2013 – 2024

3.3   Industry ecosystem analysis

3.3.1    Vendor matrix

3.4   Innovation & sustainability

3.5   Regulatory landscape

3.5.1    U.S.

3.5.2    India

3.5.3    Europe

3.5.3.1   France

3.5.3.2   Germany

3.5.3.3   UK

3.5.4    Australia

3.5.5    China

3.5.6    South Africa

3.5.7    Chile

3.5.8    International Battery Standards and Testing

3.5.9    International hybrid grid standards

3.6   Industry impact forces

3.6.1    Growth drivers

3.6.1.1   Enhanced power quality and security of supply

3.6.1.2   Improved system efficiency and longevity

3.6.1.3   Growing electricity demand

3.6.1.4   Positive outlook towards renewable energy

3.6.1.5   Increasing off-grid electricity demand

3.6.2    Industry pitfalls and challenges

3.6.2.1   High initial investment

3.7   Price trend analysis

3.7.1    Normalized price trend

3.7.2    Price trend analysis, by battery

3.8   Growth potential analysis

3.9   Porter’s Analysis

3.10    Competitive landscape, 2016

3.10.1   Strategy dashboard

3.10.1.1    Siemens AG

3.10.1.2    Vestas

3.10.1.3    GE

3.11    PESTEL Analysis

3.12    Renewable energy storage trends & outlook

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/hybrid-solar-wind-energy-storage-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

Related News

North America Beverage Refrigeration Market Growth Predicted at 5% CAGR through 2024

Published Date: 2020-09-21         Author: Ronak Bora

The research report on North America Beverage Refrigeration Market offers a thorough understanding on this industry with significant details subject to its overall foothold in the global landscape and its application across major end-user industries and sectors. According to this report, North Am... Read More

North America Breast Implants Market Size to Expand at Over 9% CAGR through 2025

Published Date: 2020-09-21         Author: Ronak Bora

The study on North America Breast Implants Market provides a complete view on the industry with intricate details subject to its overall stance in the global landscape along with specifying various applications across major end-user sectors. North America Breast Implants industry, as per the gi... Read More

North America Automotive Camera Market Revenue to Surpass USD 5 Billion by 2025

Published Date: 2020-09-21         Author: Ronak Bora

The research report on North America Automotive Camera Market provides a comprehensive understanding of the overall market with substantial details including its position in the global economy and its applications across myriad end-users segments. According to the given report, the North America aut... Read More

© 2020 Fractovia. All Rights Reserved