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U.S. Hybrid Power Solutions Market growth will be driven by increasing awareness toward standalone power generation units primarily for the consumption across residential establishments | Key Players; GE, Siemens Gamesa, Vestas, Suzlon Group, Tesla

04-03-2019 08:07 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Hybrid Power Solutions Market

Hybrid Power Solutions Market

Global Market Insights, Inc. provides a detailed overview of hybrid power solutions market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Hybrid Power Solutions Market in U.S. is projected to surpass the cumulative capacity of 900 MW by 2024. Increasing awareness toward standalone power generation units primarily for the consumption across residential establishments will foster the industry growth. Advancement in technology coupled with the growing need for uninterrupted power supply will complement the product penetration.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/2552

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 solution 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:

1. GE
2. Siemens Gamesa
3. Vestas
4. Vattenfall
5. Goldwind
6. Suzlon Group
7. Tesla
8. SMA Solar Technology AG
9. Enel Green Power
10. ContourGlobal
11. A123 Systems
12. ReGen Powertech

Make an inquiry for buying this report @ www.gminsights.com/inquiry-before-buying/2552

Hybrid Power Solutions Market growth in China will be driven by increasing electricity demand along with government measures toward installation of renewable energy systems. Economies of scale and technology advancement resulting in significant decline in component cost for renewable power generation stations will further stimulate the industry outlook.

Rising demand for clean fuel off grid electricity along with favorable regulatory measures to supply electricity to remote areas will foster the hybrid solar-wind power solutions market. Developers are significantly focusing toward the improvisation of capacity utilization factor along with shifting focus toward raising the dependency on effective and sustainable power generation.

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 solution market can be largely credited to this fundamental transition. Moreover, lack of grid connectivity across remote belts and the subsequent unreliability in power supply often compel electric utilities to incline toward hybrid power system installation in recent years. The abundant availability of various governmental incentives such as feed-in-tariffs, subsidies, and leverage schemes further complements the business growth.

Browse key industry insights spread across 330 pages with 912 market data tables & 38 figures & charts from the report, Hybrid Power Solutions Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/hybrid-power-solutions-market

Growing adoption of sustainable building codes and standards pertaining to energy efficiency along with development of advanced energy solutions for environment friendly buildings will propel the standalone hybrid power solutions market. In addition, the increasing adoption of low cost, smart integrated technologies and energy efficient systems will impact product adoption. In 2017, the U.S. has witnessed the development of community-based hybrid project powered by Juhl energy accounting for a capacity of 4.5 MW.

Paradigm shift towards decentralized power generation coupled with rising demand for environment friendly technology will complement the hybrid power solutions market share. Introduction of favorable regulatory norms including subsidies, leverage schemes and FIT?s will positively influence the product demand. In 2010, the government of India has initiated the promotion of hybrid power generation by facilitating a subsidy of USD 1,450 per kW to the community users.

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. As per the reports, in 2016, the average nominal installation cost of a small wind turbine recorded around 7000 USD/kW – 7500 USD/kW. Also it has been reported that average cost of solar PV module witnessed a decline of almost 0.5% over 2013-2016. These aforementioned factors in tandem with tremendous technological advancements in renewable energy technology is certain to push hybrid power solutions industry to attain remarkable heights over the ensuing years. Global Market Insights, Inc. forecasts the overall business space to exceed a massive valuation of USD 60 billion by 2024.

Global players in hybrid power solutions market include ReGen Powertech, GE, Siemens Gamesa, Vestas, Vattenfall, Goldwind, Suzlon Group, Alpha Wind Energy, Blue Pacific Solar, Zenith Solar, Alternate Energy Inc., Polar Power Inc., Grupo Dragon, Tesla, A123 Systems, AESC, Inc., MPower Group, SMA Solar Technology AG, Enel Green Power, ContourGlobal, and Danvest - Hybrid Power.

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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
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org

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