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Hybrid Solar Wind Market Trends, Industry Outlook Report - 2024 with Siemens Gamesa, Polar Power Inc., Zenith Solar, Grupo Dragon, ReGen Powertech, Blue Pacific Solar, Alternate Energy Company

01-18-2019 07:39 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Hybrid Solar Wind Market

Hybrid Solar Wind Market

Growing popularity of off grid electricity, favorable legislations, and rising ecological concerns will boost hybrid solar wind market trends over the coming years. Moreover, improved efficiency and high reliability offered via hybrid solar wind technology will further enhance the industry growth. According to Global Market Insights, Inc., “Hybrid solar wind industry size is estimated to reach USD 1.47 billion by 2024.” Rise in environmental pollution along with depletion of non -renewable energy resources such as fossil fuels have forced various governments to look for other alternate renewable energy sources such as Solar Energy and wind energy. Furthermore, low operating costs along with rising preference for clean energy have resulted in heavy demand for these renewable energy sources, thereby driving hybrid solar wind market.

Hybrid solar wind industry finds wide applications in industrial, residential, and commercial sectors. Stringent government norms to curb greenhouse gas emissions is expected to boost the demand for hybrid solar wind systems across various industrial applications. Hybrid solar wind market size in the residential sector is projected to grow at a rate of 14% over the coming seven years, driven by the rise in electrification programs in emerging economies. Furthermore, increasing demand to overcome power supply shortages is expected to catalyze the hybrid solar wind market share in the commercial sector.

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Financial incentives for the integration of establishment renewable energy station will help to drive Australia hybrid solar wind market in future. which include solar and wind farms. Arena has allocated a USD 9.9 Million grant to build a 10 MW solar plant along Gullen Range Wind Farm. These initiatives will help to reduce the construction cost of solar farm by 20% of the total cost.

Governments across the world have started electrification programs to fulfill off grid electricity demand. North America, in this regard, is expected to contribute substantially towards the global hybrid solar wind market revenue, driven by the rising inclination towards using the renewable energy sources. US is likely to lead the regional demand, surpassing a revenue of USD 300 million by 2024, driven by the initiatives towards reducing carbon emissions as well as energy consumption.

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Over the next few years, effective hybrid solar systems with high energy conserving capacities and lower greenhouse gas emissions will be on the top priority of the manufacturers. Key hybrid solar wind industry participants include:
1. Siemens Gamesa
2. ReGen Powertech
3. Polar Power Inc.
4. Zenith Solar
5. Grupo Dragon
6. Blue Pacific Solar
7. Unitron Energy Systems Pvt. Ltd. - India
8. Alternate Energy Company
9. Supernova Technologies Pvt Ltd
10. Alpha Windmill (BEDALE) Limited

Hybrid Solar Wind Market Application Potential, Competitive Market Share & Forecast, 2016 – 2024 in detail along with the table of contents@

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.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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