UK Hybrid Solar Wind Energy Storage Market to Gain Sizeable Returns By 2024

With the prominent use of renewable energy, standalone hybrid solar wind energy storage market is anticipated to witness a profitable growth in the years ahead

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. Technological innovation in design of renewable systems to enhance capacity utilization factor will further augment the industry growth.

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Mounting government support with regards to the adoption of renewable energy has majorly propelled hybrid solar wind energy storage market. Regulatory bodies across the globe have set strict deadlines to drastically diminish the amount of greenhouse gases and to create a sustainable environment for the future of the planet. This has resulted in such initiatives like the EU 20-20-20 established in 2014, aimed at reducing greenhouse gases, increasing the renewable energy, and improving energy efficiency, each by 20% by the year 2020.

Other regional governments are also catching up quickly on the trend, augmenting hybrid solar wind energy storage market. For instance, the Ministry of New and Renewable Energy of India is planning to build the world’s largest solar-wind hybrid mega project that will have a capacity of 160 MW, with the help of funding by the World Bank.

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.

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.

With the prominent use of renewable energy, standalone hybrid solar wind energy storage market is anticipated to witness a profitable growth in the years ahead. A number of private sector-based companies have started to offer standalone hybrid solar wind energy systems for homes and businesses. For example, Maine based Pika Energy offers its users the combination of 1700 watt producing wind turbines and 6000-watt range of solar panels. With these, they add an energy storage unit such as the Tesla Powerwall and a very viable standalone hybrid solar wind energy system is created.

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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.

Eminent participants in hybrid solar wind energy storage market includes Siemens Gamesa, UNITRON, Grupo Dragon, ReGen Powertech, General Electric, Goldwind, Suzlon, Blue Pacific Solar, Vestas, Vattenfall, Tesla and Zenith Solar Systems.

Some Points From Table Of Content: -

Chapter 4 Hybrid Solar Wind Energy Storage Market, By Product
4.1 Hybrid solar wind energy storage industry share by product, 2016 & 2024
4.2 Standalone
4.2.1 Global market from standalone, 2013 - 2024
4.2.2 Global market from standalone, by region, 2013 – 2024
4.3 Grid connected
4.3.1 Global market from grid connected, 2013 - 2024
4.3.2 Global market from grid connected, by region, 2013 – 2024

Chapter 5 Hybrid Solar Wind Energy Storage Industry, By End Use
5.1 Hybrid solar wind energy storage industry share by end use, 2016 & 2024
5.2 Residential
5.2.1 Global market from residential, 2013 - 2024
5.2.2 Global market from residential, by region, 2013 – 2024
5.3 Commercial
5.3.1 Global market from commercial, 2013 - 2024
5.3.2 Global market from commercial, by region, 2013 – 2024
5.4 Utility/Industrial
5.4.1 Global market from utility/industrial, 2013 - 2024
5.4.2 Global market from utility/industrial, by region, 2013 – 2024

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