Press release
Hybrid Power Solutions Market 2018-2024 By Top Players: General Electric, Vestas, Vattenfall AB, Goldwind, Suzlon, Zenith Solar Systems, UNITRON, Polar Power Inc., Grupo Dragon, Tesla, MPower, SMA Solar, ENEL Green, Contour Global
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Hybrid Power Solutions Market size will exceed USD 60 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Growing demand for reliable and uninterruptible power coupled with increasing focus toward the grid integration of renewable energy will boost the hybrid power solutions market. Favourable initiatives to promote renewable energy along with the growing demand for decentralized power generation systems will augment the business landscape. In 2015, ABB and Vestas have introduced Wind for Prosperity initiative across remote areas of Kenya to ensure the clean power generation through Wind-Diesel technology.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• General Electric
• Siemens Gamesa Renewable Energy
• Vestas
• Vattenfall AB
• Goldwind
• Suzlon Energy Limited
• Alpha Windmills
• Blue Pacific Solar Products
• Zenith Solar Systems
• UNITRON Energy System
• Alternate Energy Company
• Supernova Technologies Private Limited
• Polar Power Inc.
• Grupo Dragon
• Tesla
• A123 systems, LLC
• Automotive Energy Supply Corporation (AESC)
• MPower
• SMA Solar
• ENEL Green
• Contour Global
• Danvest Energy
U.S. hybrid power solutions market has witnessed the cumulative capacity generation of 900 MW by 2024. Schemes including FIT, carbon credit, and green bonds have provided an impetus toward the installation of wind-solar plants, which will further complement the hybrid power solutions market hybrid power solutions market outlook. In 2018, Kauai Island Utility Cooperative (KIUC) has announced the deployment of solar storage hybrid project which will reduce the utility’s peak fossil fuel generation by 55 MW.
Ambitious renewable energy (RE) capacity addition targets coupled with the abundant availability of solar and wind energy will drive the hybrid solar wind market growth. Technological advancement coupled with introduction of norms to reduce carbon footprints will stimulate the business growth. In 2017, Vestas announced the development of world’s largest utility-scale solar-wind project comprising of 43.2 MW of wind and 15 MW of solar capacity.
Standalone hybrid power solutions market is set to grow on account of rising demand for reliable and safe electricity supply primarily across remote off-grid areas. In 2017, Juhl energy announced the development of community based solar-wind hybrid project in U.S. with an overall capacity of 4.5 MW. Growing demand for renewable energy, the need for improving grid reliability and stability, and low installation costs are some of the prominent features that make its adoption viable.
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China hybrid power solutions market is anticipated to grow over 3% by 2024. Growing funding toward the deployment of clean energy sources to reduce carbon footprints along with introduction of various targets to overcome the rising electricity demand will embellish the industry growth. In 2015, the government of China has introduced a solar wind system, with an overall capacity of 300 MW that aims to meet the electricity demand by serving 2000 people across the region.
Declining manufacturing costs of wind turbines, wind blades and solar panels owing to advancement of technology and economy of scale will drive the hybrid power solutions market. In 2016, the average nominal cost for the installation of small wind turbine was recorded from 7000 USD/kW to 7500 USD/kW. In 2016, the cost of PV module has witnessed a decline of 0.5% when compared to 2013.
Browse Full Report: https://www.gminsights.com/industry-analysis/hybrid-power-solutions-market
Key industry participants in the hybrid power solutions market include Blue Pacific Solar, General Electric, Gamesa Wartsila, Zenith Power Systems, Polar Power, Unitron Energy, VONK, Star Sight, Danvest, Vestas, Alpha Windmills, Grupo Dragon, BWSC, FlexGen, A123 systems, Tesla Windlab and Sterling & Wilson
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https://www.openpr.com/news/1377143/Smart-Office-Market-2018-2024-By-Top-Players-ABB-Siemens-Cisco-Johnson-Controls-International-PLC-Honeywell-International-Crestron-Electronics-Inc-United-Technologies-Corporation-Lutron-Electronics.html
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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