Global Hybrid Power Solutions Industry 2018, Deep Market Research Report, Analysis, Forecast and Outlook
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encourage the expansion of the Hybrid Power Solutions Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Hybrid Power Solutions Market are SMA Solar Technology AG, Siemens AG, Huawei Technologies Co., ZTE Corporation, Heliocentris Energy Solutions AG, Danvest Energy, PFISTERER Holding AG, and Flexenclosure AB, LTD.
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Hybrid Power Plants to Combine Wind and Solar Power to Heat Up In India
In June 2018, Combining wind and solar power at dual-use plants could ease land acquisition and variability issues that would impact the country’s renewables market growth. India's Renewable Energy Ministry published a national policy on 16 May that envisions a national grid of "hybrid" power plants integrating both solar and wind power, a concept that potentially addresses threats to renewables' dominance of the energy mix such as inconsistent output and land shortages.
Ksa’s Zahid Group Acquired German Solar PV Firm
OMAS, a wholly-owned subsidiary of Saudi Arabian conglomerate Zahid Group, has acquired a 50% share in Greencells Group, a German provider for solar photovoltaic power plants. Investment from Zahid Group will provide Greencells with finances to undertake new strategic opportunities and it will also strengthen its position in the solar photovoltaic market. Greencells will continue delivering its services out of four regional hubs to cater to a growing demand for solar and hybrid power solutions.
Growing Rural Electrification Programs to Drive the Growth in the Hybrid Power Solutions Market
The hybrid power solution is able to provide a sufficient amount of electrical power to the rural and remote areas that are driving the growth of hybrid power solutions market. The hybrid power generation system uses various energy sources to give eco-friendly solutions to the off Grid sites. The rapidly growing use of hybrid power generation systems in off Grid sites is likely to boost the growth of hybrid power solutions market. In addition, besides from the independent, economic and environmentally friendly solution, the hybrid power solutions also offer a reduction in the fuel, maintenance and operational costs that are anticipated to escalate the growth of hybrid power solution market. For instance, The Horizon 2020 SUNINBOX project has introduced a photovoltaic generator that is able to provide a clean, renewable and economical source of energy that can help reduce consumption of fossil fuels to mitigate global warming. It provides energy off-grid to remote communities with no electricity or as part of a hybrid energy generation system.
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Asia Pacific Region Accounted For the Maximum Market Share in the Hybrid Power Solutions
Among the regions, the Asia Pacific region accounted for the maximum market share in the hybrid power solutions market in 2017 and is expected to remain dominant throughout the forecast period. The rapidly growing use of renewable energy in Asia Pacific region drives the growth of hybrid power solution in this region. The end-user industries in the Asia Pacific region are focusing on the adoption of hybrid power solution to provide the power that led to the rising number of hybrid power plants across this region. For instance, In May 2018, a prolific trio of major companies in natural gas, energy storage, and renewable energy project development have united to take on Asia’s energy storage market, with Japan’s JERA, Australia’s Lyon Group and US-headquartered multinational Fluence announced a partnership.
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