Press release
Global Hybrid Solar Wind Energy Storage Market Report Till 2024
Hybrid Solar Wind Energy Storage market is expected to surpass USD 1.5 billion by 2024. Introduction of several targets and norms to promote the adoption of sustainable energy across the commercial buildings will fuel the hybrid solar wind energy storage market growth. Growing service industry across urban area with an objective to achieve energy efficiency will further complement the business outlook. In 2014, European Union introduced EU 20-20-20 target with an objective to reduce GHG emissions to 20% by increasing renewable energy share in the total energy mix by 2020.
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Growing funding from private and public institutions including International Finance Corporation, Asian and African Development Bank toward the electrification across the isolated and off grid areas will propel the hybrid solar wind energy storage market. According to International Energy Agency, USD 718 billion was invested toward electrification worldwide in 2016.
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.
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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.
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:
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 360 degree 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
Chapter 4 Hybrid Solar Wind Energy Storage Market, By Product
4.1 Hybrid solar wind energy storage market share by product, 2016 & 2024
4.2 Standalone
4.2.1 Global market from standalone, 2013 - 2024
4.2.2 Global market from standalone, by region, 2013 - 2024
4.3 Grid connected
4.3.1 Global market from grid connected, 2013 - 2024
4.3.2 Global market from grid connected, by region, 2013 - 2024
Chapter 5 Hybrid Solar Wind Energy Storage Market, By End Use
5.1 Hybrid solar wind energy storage market share by end use, 2016 & 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 Utility/Industrial
5.4.1 Global market from utility/industrial, 2013 - 2024
5.4.2 Global market from utility/industrial, by region, 2013 - 2024
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