Hybrid solar wind energy storage market is forecast to cross USD 1.5 billion mark by 2024. Several go-green initiatives undertaken by the government along with introduction of energy targets to promote the adoption of sustainable energy is likely to drive global hybrid solar wind energy storage industry. To minimize GHG emission, manufacturers are focusing on advancing existing hybrid power systems, to increase energy production capacity along with reducing its environmental impact.

Hybrid power leverages the advantages of the corresponding energy profiles of solar and wind power. The possibilities in the energy industry are immense if the energy generated by these natural sources are utilized simultaneously. Depending on the location, a hybrid solar-wind energy system can optimize energy feed-in, capacity factor and grid stability.

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Connected grid technologies are gaining widespread popularity on account of favorable measures undertaken by the government to promote the deployment of sustainable technologies with attractive incentives. Some of the incentives introduced by regulatory bodies to promote adoption of clean energy systems include net metering, feed in tariff and Carbon credit.

India hybrid solar wind energy storage industry is forecast to witness massive growth due to introduction of several norms pertaining to hybrid energy. In 2016, India launched National Wind-Solar Hybrid Policy in order to install 10 GW hybrid capacity by 2022. The country is also planning to invest over USD 155 million for the construction of a 160 megawatt project.

U.K. hybrid solar wind energy storage market will also witness immense growth due to positive outlook in region towards renewable energy economy structure. The region relies on reliable, effective, and sustainable power generation sources and is looking forward to enhancing capacity utilization factor with the new technologies.

Rapid technological advancements in design of renewable systems with the introduction of strict norms as well as targets to minimize carbon emissions will boost the adoption of systems. Key manufacturers in the industry are consistently working on projects to generate sustainable energy. For instance, in 2017, Vestas, the leading wind turbine company introduced utility scale project that has ability to generate 15 megawatts of solar and 43.2 megawatt of wind energy along with a battery storage capacity of 2 megawatt.

Key market players operating in the hybrid solar wind energy storage market comprise of General Electric, Vestas, Siemens Gamesa, Goldwind, Vattenfall, UNITRON, Suzlon, Tesla, Grupo Dragon

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Table of Content

Chapter 4 Hybrid Solar Wind Energy Storage Market, By Product

4.1 Hybrid solar wind energy storage market 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 Market, By End Use

5.1 market 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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