Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Market definition and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Hybrid solar wind energy storage 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 End use trends
2.1.4 Regional trends
Chapter 3 Hybrid Solar Wind Energy Storage Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Innovation & sustainability
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 India
3.5.3 Europe
3.5.3.1 France
3.5.3.2 Germany
3.5.3.3 UK
3.5.4 Australia
3.5.5 China
3.5.6 South Africa
3.5.7 Chile
3.5.8 International Battery Standards and Testing
3.5.9 International hybrid grid standards
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Enhanced power quality and security of supply
3.6.1.2 Improved system efficiency and longevity
3.6.1.3 Growing electricity demand
3.6.1.4 Positive outlook towards renewable energy
3.6.1.5 Increasing off-grid electricity demand
3.6.2 Industry pitfalls and challenges
3.6.2.1 High initial investment
3.7 Price trend analysis
3.7.1 Normalized price trend
3.7.2 Price trend analysis, by battery
3.8 Growth potential analysis
3.9 Porter’s Analysis
3.10 Competitive landscape, 2016
3.10.1 Strategy dashboard
3.10.1.1 Siemens AG
3.10.1.2 Vestas
3.10.1.3 GE
3.11 PESTEL Analysis
3.12 Renewable energy storage trends & outlook
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 Hybrid solar wind energy storage 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
Chapter 6 Hybrid Solar Wind Energy Storage Market, By Region
6.1 Hybrid solar wind energy storage market share by region, 2016 & 2024
6.2 North America
6.2.1 North America market, 2013 - 2024
6.2.2 North America market by product, 2013 - 2024
6.2.3 North America market by end use, 2013 - 2024
6.2.4 U.S.
6.2.4.1 U.S. market, 2013 - 2024
6.2.4.2 U.S. market by product, 2013 - 2024
6.2.4.3 U.S. market by end use, 2013 - 2024
6.2.5 Canada
6.2.5.1 Canada market, 2013 - 2024
6.2.5.2 Canada market by product, 2013 - 2024
6.2.5.3 Canada market by end use, 2013 - 2024
6.3 Europe
6.3.1 Europe market, 2013 - 2024
6.3.2 Europe market by product, 2013 - 2024
6.3.3 Europe market by end use, 2013 - 2024
6.3.4 UK
6.3.4.1 UK market, 2013 - 2024
6.3.4.2 UK market by product, 2013 - 2024
6.3.4.3 UK market by end use, 2013 - 2024
6.3.5 Germany
6.3.5.1 Germany market, 2013 - 2024
6.3.5.2 Germany market by product, 2013 - 2024
6.3.5.3 Germany market by end use, 2013 - 2024
6.4 Asia-Pacific
6.4.1 Asia-Pacific market, 2013 - 2024
6.4.2 Asia-Pacific market by product, 2013 - 2024
6.4.3 Asia-Pacific market by end use, 2013 - 2024
6.4.4 China
6.4.4.1 China market, 2013 - 2024
6.4.4.2 China market by product, 2013 - 2024
6.4.4.3 China market by end use, 2013 - 2024
6.4.5 India
6.4.5.1 India market, 2013 - 2024
6.4.5.2 India market by product, 2013 - 2024
6.4.5.3 India market by end use, 2013 - 2024
6.4.6 Australia
6.4.6.1 Australia market, 2013 - 2024
6.4.6.2 Australia market by product, 2013 - 2024
6.4.6.3 Australia market by end use, 2013 - 2024
6.4.7 Japan
6.4.7.1 Japan market, 2013 - 2024
6.4.7.2 Japan market by product, 2013 - 2024
6.4.7.3 Japan market by end use, 2013 - 2024
6.5 Latin America
6.5.1 Latin America market, 2013 - 2024
6.5.2 Latin America market by product, 2013 - 2024
6.5.3 Latin America market by end use, 2013 - 2024
6.5.4 Brazil
6.5.4.1 Brazil market, 2013 - 2024
6.5.4.2 Brazil market by product, 2013 - 2024
6.5.4.3 Brazil market by end use, 2013 - 2024
6.5.5 Chile
6.5.5.1 Chile market, 2013 - 2024
6.5.5.2 Chile market by product, 2013 - 2024
6.5.5.3 Chile market by end use, 2013 - 2024
6.6 Rest of World
6.6.1 Rest of World market, 2013 - 2024
6.6.2 Rest of World market by product, 2013 - 2024
6.6.3 Rest of World market by end use, 2013 - 2024
Chapter 7 Company Profiles
7.1 ReGen Powertech
7.1.1 Business Overview
7.1.2 Financial Data
7.1.3 Product Landscape
7.1.4 Strategic Outlook
7.1.5 SWOT Analysis
7.2 General Electric
7.2.1 Business Overview
7.2.2 Financial Data
7.2.3 Product Landscape
7.2.4 Strategic Outlook
7.2.5 SWOT Analysis
7.3 Siemens Gamesa Renewable Energy
7.3.1 Business Overview
7.3.2 Financial Data
7.3.3 Product Landscape
7.3.4 Strategic Outlook
7.3.5 SWOT Analysis
7.4 Vestas
7.4.1 Business Overview
7.4.2 Financial Data
7.4.3 Product Landscape
7.4.4 Strategic Outlook
7.4.5 SWOT Analysis
7.5 Vattenfall AB
7.5.1 Business Overview
7.5.2 Financial Data
7.5.3 Product Landscape
7.5.4 Strategic Outlook
7.5.5 SWOT Analysis
7.6 Goldwind
7.6.1 Business Overview
7.6.2 Financial Data
7.6.3 Product Landscape
7.6.4 Strategic Outlook
7.6.5 SWOT Analysis
7.7 Suzlon Energy Limited
7.7.1 Business Overview
7.7.2 Financial Data
7.7.3 Product Landscape
7.7.4 Strategic Outlook
7.7.5 SWOT Analysis
7.8 Alpha Windmills
7.8.1 Business Overview
7.8.2 Financial Data
7.8.3 Product Landscape
7.8.4 SWOT Analysis
7.9 Blue Pacific Solar Products
7.9.1 Business Overview
7.9.2 Financial Data
7.9.3 Product Landscape
7.9.4 SWOT Analysis
7.10 Zenith Solar Systems
7.10.1 Business Overview
7.10.2 Financial Data
7.10.3 Product Landscape
7.10.4 SWOT Analysis
7.11 UNITRON Energy System
7.11.1 Business Overview
7.11.2 Financial Data
7.11.3 Product Landscape
7.11.4 SWOT Analysis
7.12 Alternate Energy Company
7.12.1 Business Overview
7.12.2 Financial Data
7.12.3 Product Landscape
7.12.4 SWOT Analysis
7.13 Supernova Technologies Private Limited
7.13.1 Business Overview
7.13.2 Financial Data
7.13.3 Product Landscape
7.13.4 SWOT Analysis
7.14 Polar Power Inc.
7.14.1 Business Overview
7.14.2 Financial Data
7.14.3 Product Landscape
7.14.4 Strategic Outlook
7.14.5 SWOT Analysis
7.15 Grupo Dragon
7.15.1 Business Overview
7.15.2 Financial Data
7.15.3 Product Landscape
7.15.4 Strategic Outlook
7.15.5 SWOT Analysis
7.16 Tesla
7.16.1 Business Overview
7.16.2 Financial Data
7.16.3 Product Landscape
7.16.4 Strategic Outlook
7.16.5 SWOT Analysis
7.17 A123 systems, LLC
7.17.1 Business Overview
7.17.2 Financial Data
7.17.3 Product Landscape
7.17.4 Strategic Outlook
7.17.5 SWOT Analysis
7.18 Automotive Energy Supply Corporation (AESC)
7.18.1 Business Overview
7.18.2 Financial Data
7.18.3 Product Landscape
7.18.4 Strategic Outlook
7.18.5 SWOT Analysis
Hybrid Solar Wind Energy Storage Market Size
Hybrid Solar Wind Energy Storage Market size for 2016 was over USD 1 billion and the cumulative capacity is set to exceed 1 GW by 2024.
Increasing demand for reliable and uninterrupted power supply will drive the hybrid solar wind energy storage market size. Growing concerns toward ineffective grid infrastructure along with demand supply mismatch primarily across developing economies will augment the industry landscape. Growing demand for clean energy, deployment of smart grid networks, and the need to ensure reliability and stability of RE systems have led to the adoption of these systems.
Favourable government initiatives toward the deployment of sustainable technologies along with robust economic growth primarily across Asia Pacific and Africa will boost the hybrid solar wind energy storage market growth. Growing consumer awareness toward the adoption of sustainable energy mix will favour the business growth. The Government of China has introduced numerous financial incentives, schemes, and subsidies to attract new investments in the country.
Increasing public and private funding toward the electrification across off-grid and isolated areas will positively impact the hybrid solar wind energy storage market share. Growing investments from various financial institutions including of International Finance Corporation (IFC) and regional development banks, including African Development Bank and Asian Development Bank, will further drive the business landscape. In 2016, International Energy Agency (IEA) proclaimed an overall investment of USD 718 billion toward electrification across the globe.
Hybrid Solar Wind Energy Storage Market Analysis
Standalone system is anticipated to witness growth over 5% by 2024. Renewable capacity addition targets along with favourable government incentives to promote the adoption of sustainable systems will boost the hybrid solar wind energy storage market. As per Ministry of New and Renewable Energy (MNRE) the total capacity addition target from renewables for year 2018 is 14,450 MW.
Grid connected systems are predicted witness strong growth on account of growing measures toward uninterrupted power supply. Grid stabilization potential, high capacity generation and effective capacity utilization factor are the key parameters that will fuel the hybrid solar wind energy storage market growth.
Residential hybrid solar wind energy storage market size is predicted to grow over 7% by 2024. Ongoing electrification program across developing economies along with growing awareness toward the adoption of RE systems will stimulate the industry growth. As per National Renewable Energy Laboratory, the Township Electrification Program have facilitated almost 97% of Chinese households with renewable energy.
Growing measures toward the adoption of sustainable systems to execute the industrial operations coupled with stringent norms toward emissions reduction will boost the hybrid solar wind energy storage market. As per European environment agency, the electricity consumption across Europe increased by 26.4% in last decade accounting for 2.4% increase by industrial sector.
U.S. hybrid solar wind energy storage market share is predicted to witness strong growth on account of shifting focus toward renewable energy integration. Increasing electricity demand owing to rapid industrialization and commercialization will fuel the industry growth. In 2015, the Invenergy announced operation Grand Ridge Energy Storage project in the U.S with capacity of 31.5 MW. The project is located at Grand Ridge Energy Centre, which includes 20 MW of solar, 210 MW of wind and 1.5 MW of energy storage unit.
Ongoing technological advancements coupled with declining prices of storage systems will fuel the UK hybrid solar wind energy storage market. Abundant availability of wind and solar energy along with compatible geographical conditions will stimulate the business growth. Government initiatives to promote renewable energy across the nation will further boost the industry landscape. The EU Renewable Energy Directive (Directive 2009/28/EC) introduced the target of 20% final energy consumption from renewable sources by 2020.
Rapid urbanization coupled with the need for reliable grid infrastructure will augment the China hybrid solar wind energy storage market. Rising investments toward the deployment of sustainable technologies with an aim to meet the growing electricity demand will augment the industry landscape. As of 2017, the Zhangbei National Wind and Solar Energy Storage and Transmission Demonstration Project accounts for 18 MW of storage capacity with overall capacity exceeding 200 MW.
Hybrid Solar Wind Energy Storage Market Share
Notable hybrid solar wind energy storage market participants include
Major players across industry are focussing on mergers and collaborations as a part of their strategic move towards product development. Siemens collaborated with AES with an objective to form a new energy storage company. The joint venture, Fluence, will integrate AES’ operational excellence in utility-scale storage with Siemens’ engineering & sales resources.
Hybrid Solar Wind Energy Storage Industry Background
Hybrid solar wind energy storage system is a combination of solar PV module, wind turbine and storage system to store the energy generated from both the sources. The system possesses improved efficiency and reliability along with the capability to mitigate carbon footprints. Government initiatives toward the adoption of sustainable technologies to meet the growing electricity demand is anticipated to be a key factor propelling industry growth.