Press release
Major Market Shift in Renewable Energy Integration Systems Industry: Introduction of Next-Generation Solar Inverter Solutions
Renewable Energy Integration Systems Market Report
The renewable energy integration systems market has grown rapidly in recent years. It will increase from $132.84 billion in 2024 to $147.96 billion in 2025, at a CAGR of 11.4%. The growth is attributed to renewable portfolio standards (RPS), net metering policies, feed-in tariffs (FITs), public support and advocacy, and electricity market reforms.
The renewable energy integration systems market is projected to see strong growth, reaching $212.42 billion by 2029, at a CAGR of 9.5%. This growth is driven by advancements in energy storage, smart grid solutions, IoT, decentralized energy systems, and transportation electrification. Key trends include grid flexibility, hybrid renewable energy systems, electric vehicle (EV) integration, AI and machine learning, and blockchain technology.
What Factors Are Propelling the Expansion of the Renewable Energy Integration Systems Market?
The rise in investments within the energy sector is expected to boost the renewable energy integration systems market. Investments in the energy sector involve the allocation of financial resources to projects, assets, and activities related to energy production, distribution, and utilization. Renewable energy integration systems (REIS) utilize these investments to optimize renewable energy deployment, improve grid reliability, and support the transition to a sustainable energy future. For instance, in July 2023, GOV.UK, a UK-based public sector information website, reported that total investment in the energy industries in 2022 amounted to $22.45 billion (£16.7 billion), reflecting a 1.4% increase from the previous year. Moreover, in December 2023, the Institute for Energy Economics & Financial Analysis, a US-based nonprofit organization, noted that global investments in solar power generation reached approximately $500 billion in 2022, an $80 billion increase from 2021. As a result, rising investments in the energy sector are fueling the growth of the renewable energy integration systems market.
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Which Businesses Are at the Forefront of Renewable Energy Integration Systems Market Development?
Major companies operating in the renewable energy integration systems market are Hitachi Ltd., Huawei Technologies Co. Ltd., Siemens AG, General Electric Renewable Energy LLC, Schneider Electric SE, ASEA Brown Boveri Ltd., Toshiba Corporation, Exelon Generation Company LLC, Vestas Wind Systems AS, Emerson Electric Co., Delta Electronics Inc., Sungrow Power Supply Co. Ltd., Enercon GmbH, SolarEdge Technologies Inc., Enphase Energy, Advanced Energy Industries Inc., SMA Solar Technology AG, Fronius International GmbH, Cyber Power Systems Inc., Nidec Industrial Solutions, Kaco New Energy GmbH, FlexGen Power Systems, Doosan GridTech, Voltus Inc., Ideal Power Inc.
What Are the Latest Innovations in the Renewable Energy Integration Systems Market?
Companies in the renewable energy integration systems market are launching next-generation solar inverter solutions to improve energy efficiency. These advanced inverters enhance solar energy conversion, reliability, and integration with smart grids and energy storage. For instance, in September 2024, EPC Power Corporation, a U.S.-based manufacturer, introduced the M System, a modular solar inverter platform. This system optimizes energy storage and solar plant design, offering configurations from a single 5.3 MVA inverter block to ten independent 537 kVA inverters. Its adaptable architecture improves production efficiency and supports the expansion of U.S. renewable energy manufacturing.
How Is the Renewable Energy Integration Systems Market Segmented?
The renewable energy integration systems market covered in this report is segmented -
1) By Components: Hardware, Software, Services
2) By Power Sources: Wind power, Solar power, Hydro power
3) By End-User: Residential Consumers, Commercial Consumers, Industrial Consumers, Government Agencies
Subsegments:
1) By Hardware: Inverters, Batteries and Storage Systems, Power Control Systems, Transformers, Switchgear and Protection Devices
2) By Software: Energy Management Software, Grid Management Software, Data Analytics and Monitoring Software
3) By Services: Consulting Services, Integration and Deployment Services, Maintenance and Support Services
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Where Is the Renewable Energy Integration Systems Market Growth Most Prominent?
Asia-Pacific was the largest region in the renewable energy integration systems market in 2024. The regions covered in the renewable energy integration systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Renewable Energy Integration Systems Global Market Report?
- Market Size Analysis: Analyze the Renewable Energy Integration Systems Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Renewable Energy Integration Systems Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Renewable Energy Integration Systems Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Renewable Energy Integration Systems Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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