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Hybrid Power Systems : Wind-Solar-Diesel-Hybrid, PV-Diesel-Hybrid, (Residential, Rural Facility Electrification) - Emerging Evolution, Innovation and New Product Development

04-12-2017 11:46 AM CET | Energy & Environment

Press release from: MarketResearchReports.biz

Hybrid Power Systems : Wind-Solar-Diesel-Hybrid,

The technology-driven hybrid power systems market is characterized by high initial investments and low switching costs. The lack of grid connectivity in remote and rural areas and its sheer unreliability has boosted the installation of these power systems in recent years. Hybrid power systems combine renewable energy sources such as wind and solar and energy produced by conventional means such as diesel generators. By type, hybrid power systems include wind-solar-diesel hybrid, PV-diesel hybrid, and others such as wind-hydro-diesel hybrid, solar thermal, and hybrid-solar biomass. Solar-wind-diesel systems, is immensely expensive. Installation of Hybrid Power Systems to Rise as Energy Industry Preference Centers on Renewable Sources.

Hybrid Power Systems major advantage is the ability of these systems to reduce carbon emissions.“Controlling carbon footprint is among the top priorities of most energy producing companies and factors such as climate change and growing social responsibility have contributed toward these companies focusing on using energy-efficient technologies in their networks.”

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Hybrid Power Systems Market will account at US$703.5 mn by 2024 at a 6.1% CAGR. Over the past few years, wind-solar-diesel hybrid systems for rural electrification have been enormously developed by various stakeholders across developing countries such as Indonesia, India, China, and South Africa. Hybrid power systems has been geographically segmented into North America, South and Central America, Asia Pacific, the Middle East and Africa, and Europe. Asia Pacific held the largest share.

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