U.S. Hybrid Power Solutions Market to reach cumulative capacity 900 MW by 2024 - PowerPoint PPT Presentation

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U.S. Hybrid Power Solutions Market to reach cumulative capacity 900 MW by 2024

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More Information @ Solar wind diesel hybrid power solutions market is predicted to exceed the cumulative capacity of 200 MW by 2024. Rising demand for effective and reliable power supply primarily across remote areas having abundant availability of solar & wind energy will augment the industry outlook. The growing adoption of renewable energy systems coupled with government initiatives to promote sustainable technologies will further propel the business growth. – PowerPoint PPT presentation

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Title: U.S. Hybrid Power Solutions Market to reach cumulative capacity 900 MW by 2024


1
Hybrid Power Solutions Market to hit 60bn by
2024 Global Market Insights Inc.
2
Industry Overview
  • Hybrid Power Solutions Market to exceed USD 60
    Billion by 2024 driven by enhanced power quality
    and security of supply. Growing demand for
    reliable and uninterruptible power coupled with
    increasing focus toward the grid integration of
    renewable energy will boost the hybrid power
    solutions market. Favourable initiatives to
    promote renewable energy along with the growing
    demand for decentralized power generation systems
    will augment the business landscape. In 2015, ABB
    and Vestas have introduced Wind for Prosperity
    initiative across remote areas of Kenya to ensure
    the clean power generation through Wind-Diesel
    technology.
  • U.S. hybrid power solutions market has witnessed
    the cumulative capacity generation of 900 MW by
    2024. Schemes including FIT, carbon credit, and
    green bonds have provided an impetus toward the
    installation of wind-solar plants, which will
    further complement the hybrid power solutions
    market hybrid power solutions market outlook. In
    2018, Kauai Island Utility Cooperative (KIUC) has
    announced the deployment of solar storage hybrid
    project which will reduce the utilitys peak
    fossil fuel generation by 55 MW.
  • Ambitious renewable energy (RE) capacity addition
    targets coupled with the abundant availability of
    solar and wind energy will drive the hybrid solar
    wind market growth. Technological advancement
    coupled with introduction of norms to reduce
    carbon footprints will stimulate the business
    growth. In 2017, Vestas announced the development
    of worlds largest utility-scale solar-wind
    project comprising of 43.2 MW of wind and 15 MW
    of solar capacity.

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Continue
  • Standalone hybrid power solutions market is set
    to grow on account of rising demand for reliable
    and safe electricity supply primarily across
    remote off-grid areas. In 2017, Juhl energy
    announced the development of community based
    solar-wind hybrid project in U.S. with an overall
    capacity of 4.5 MW. Growing demand for renewable
    energy, the need for improving grid reliability
    and stability, and low installation costs are
    some of the prominent features that make its
    adoption viable.
  • UK hybrid power solutions market is predicted to
    grow over 5 by 2024. Government focus toward
    raising the dependency on sustainable and
    effective power generation to achieve green
    energy economy structure will positively impact
    the hybrid power solutions market growth.
    Developers across the region are working
    aggressively toward the enhancement of CUF for
    their existing power plants. In 2016, Ecotricity
    announced plans for three new hybrid renewable
    energy parks that will be generating electricity
    with a mix of wind and solar energy with overall
    capacity of 5 MW. The company is approaching 100
    MW generation from solar-wind technology by
    adding green gas mills as a part of new blueprint
    for Britain.

4

Browse Full Market Research Report Of Hybrid
Power Solutions Market _at_ https//bit.ly/2mmMkks
Request for a Sample of this Research
report _at_ https//bit.ly/2NRfEvX
5
U.S. Hybrid Power Solutions Market Size, By
End-Use, 2017 2024 (MW)

6
Industry Coverage

7
Continue
  • China hybrid power solutions market is
    anticipated to grow over 3 by 2024. Growing
    funding toward the deployment of clean energy
    sources to reduce carbon footprints along with
    introduction of various targets to overcome the
    rising electricity demand will embellish the
    industry growth. In 2015, the government of China
    has introduced a solar wind system, with an
    overall capacity of 300 MW that aims to meet the
    electricity demand by serving 2000 people across
    the region.
  • Declining manufacturing costs of wind turbines,
    wind blades and solar panels owing to advancement
    of technology and economy of scale will drive the
    hybrid power solutions market. In 2016, the
    average nominal cost for the installation of
    small wind turbine was recorded from 7000 USD/kW
    to 7500 USD/kW. In 2016, the cost of PV module
    has witnessed a decline of 0.5 when compared to
    2013.
  • Key industry participants in the hybrid power
    solutions market include Blue Pacific Solar,
    General Electric, Gamesa Wartsila, Zenith Power
    Systems, Polar Power, Unitron Energy, VONK, Star
    Sight, Danvest, Vestas, Alpha Windmills, Grupo
    Dragon, BWSC, FlexGen, A123 systems, Tesla
    Windlab and Sterling Wilson.

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