Tesla, GE, Siemens Gamesa, Suzlon Group, Vestas, Companies Profiled Hybrid Power Solutions Market: Key Players are Vattenfall, ContourGlobal, MPower Group, A123 Systems, ReGen Powertech, AESC, Inc., Zenith Solar, Polar Power Inc., Alternate Energy Inc.

Hybrid Power Solutions Market in United States 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.

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Europe is claimed to be one of the pioneers of renewable energy and boasts of an enviable pipeline of wind, solar, and hydropower projects. The region also stands to gain significant monetary benefits in hybrid power solutions market as well, primarily augmented by the immense contribution of UK. According to estimates, UK hybrid power solutions market is slated to witness 5% CAGR over 2018-2024. The renewable energy directive 2009/28/EC has undoubtedly triggered new growth opportunities for the business space, with increasing deployment of microgrids, two-way power flows, and digital analytics. Incidentally, this has also prompted leading market giants to commercialize innovative solutions in the regional market that could potentially maintain the grid stability.

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

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.

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Global 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.

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.

The large-scale integration of multiple renewable resource in a single platform requires grid operation to be extremely fast, flexible and responsive. The contemporary innovations that hybrid power solutions industry is presently characterized by is majorly influenced by this particular rationale. Another economic factor that has boosted the market trend is the declining price trends of wind turbines manufacturing over the past few years.

Solar wind diesel hybrid power solutions market is predicted to exceed the cumulative capacity of 200 MW by 2024. Rising demand for effective and reliable power supply primarily across remote areas having abundant availability of solar & wind energy will augment the industry outlook. The growing adoption of renewable energy systems coupled with government initiatives to promote sustainable technologies will further propel the business growth.

Residential hybrid power solution market size is anticipated to witness robust growth due to several ongoing electrification programs across developing economies. In 2015, the government of China has introduced a wind solar hybrid system, with an overall capacity of 300 MW with an aim to supply effective power to 2000 residents across the region.

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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.

Hybrid power solutions market has garnered a considerably high traction over the past few years, primarily on account of the increasing demand for power generation with minimized fuel and reduced carbon emissions. In the face of the alarming price trends of petroleum products, potential contenders in the global energy landscape have been scrupulously thriving on renewable sources. The increasing popularity of hybrid power solutions market can be largely credited to this fundamental transition.

SWOT Analysis, ReGen Powertech, General Electric, Siemens Gamesa, 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 Technology AG, Enel Green Power, Contour Global, Danvest Energy

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