The global hybrid solar wind energy storage market growth is driven by introduction of several targets and norms to promote the adoption of sustainable energy across the commercial buildings along with growing service industry focusing on achieving energy efficiency.
Selbyville, United states - July 16, 2018 /MarketersMedia/ —
UK hybrid solar wind energy storage market share will witness growth owing to positive outlook toward renewable energy economy structure by increasing their dependency on effective, reliable and sustainable power generation sources. In 2014, European Union introduced EU “20-20-20” target with an objective to reduce GHG emissions to 20% by increasing renewable energy share in the total energy mix by 2020.
Growing funding from private and public institutions including International Finance Corporation, Asian and African Development Bank toward the electrification across the isolated and off grid areas will propel the hybrid solar wind energy storage market. According to International Energy Agency, USD 718 billion was invested toward electrification worldwide in 2016.
Technological innovation in design of renewable systems to enhance capacity utilization factor will further augment the industry growth. Advancement in technology along with introduction of targets and norms to minimize carbon emissions will drive the Australia hybrid solar wind energy storage market share. In 2017, Vestas introduced utility scale project that has ability to generate 15MW of solar & 43.2 MW of wind energy and 2MW battery storage.
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Major players in hybrid solar wind energy storage market include, Siemens Gamesa, UNITRON, Grupo Dragon, ReGen Powertech, General Electric, Goldwind, Suzlon, Blue Pacific Solar, Vestas, Vattenfall, Tesla and Zenith Solar Systems.
Rising awareness toward adoption of renewable technologies coupled with growing electricity demand primarily across the commercial and residential establishments will stimulate the U.S. hybrid solar wind energy storage market. In 2017, General Electric joint ventured with Juhi Energy to build 4.6MW of community-based hybrid project consisting of both wind and solar technologies across Minnesota. Grid connected segment is predicted to witness growth owing to favorable government measures to promote the deployment of sustainable technologies. Carbon credit, net metering and feed in tariff are some of the incentives introduced by government to promote adoption of clean energy systems. Rising concern to get reliable and continuous supply of electricity to execute daily business operations effectively will further complement the business outlook.
Introduction of several norms pertaining to hybrid energy will positively influence the India hybrid solar wind energy storage market. In 2016, India introduced National Wind-Solar Hybrid Policy to achieve installations of 10 GW hybrid by 2022. The country also announced to invest USD 155 million to construct 160 MW project.
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Major Chapters from Table of Contents of this report include:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Hybrid Solar Wind Energy Storage Industry Insights
Chapter 4 Hybrid Solar Wind Energy Storage Market, By Product
Chapter 5 Hybrid Solar Wind Energy Storage Market, By End Use
Chapter 6 Hybrid Solar Wind Energy Storage Market, By Region
Chapter 7 Company Profiles.
Complete report titled Global hybrid solar wind energy storage Market Analysis & Forecast 2017-2024 of 180 pages and published in March, 2018 is now available at https://www.marketstudyreport.com/reports/hybrid-solar-wind-energy-storage-market
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