A Solar Wind Hybrid power system is an especially efficient solution as it comprises a battery to accumulate the energy generated via a wind mill as well as a solar energy panel. Owing to the increasing concerns about climate change, nations around the world are focusing on availing alternative energy sources to sustain their energy needs for the future. As issues about power and energy supply continue to increase, businesses cannot overlook the importance of accepting renewable energy solutions and clean energy initiatives to assure a maintainable source of energy supply in the near future.
One of the major needs for the efficient economic development of a country is continuous and reliable power supply. Across the world, fossil fuel reserves are reducing at a rapid pace. Currently, the majority of demand for energy is met by fossil fuels. A small portion of the demand is primarily met by the renewable energy technologies such as wind, geothermal, solar, and biomass. With a fuel shortage imminent, renewable energy is the way ahead. Over the past few years, solar and wind power sources have experienced rapid growth because they’re renewable and comprise abundant power.
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The world’s biggest hybrid renewable energy project was recently unveiled in Jamaica by WindStream Technologies, where the array is predicted to generate over 106,000 kWh annually. The installation includes 50 of WindStream’s SolarMill devices. WindStream believes that the power supply gap can be addressed with aggressive deployment of renewable and clean energy devices. WindStream Technologies also introduced solar Wind Hybrid system, the SolarMill in the U.S. for the early adopters. The 1.2 kW SolarMill system offers high renewable energy density and incorporates both solar panels and wind turbines. The SolarMill system can produce clean electricity with power generation even after the sun goes down.
Solutions such as this are setting a benchmark for companies in the solar Wind Hybrid Systems market.
Progress in Asia Pacific to make it a Significant Consumer of Energy
The growing energy demand across the globe has prompted leading players to introduce various Solar Wind hybrid systems. By geography, the global solar wind hybrid system market is divided into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. Owing to high economic growth rate, the Asia Pacific solar wind hybrid system market is expected to dominate the global market in the years to come. Irrespective of the financial crises, the demand for energy in Asia Pacific will continue to rise. India is expected to be a significant consumer of energy for agricultural, residential, and commercial purposes.
What is Driving Demand for Solar Wind Hybrid Systems?
Higher standard of living and the increasing investments are two of the primary factors expected to drive the growth of global demand for solar wind hybrid systems. Considering rapid industrialization, especially in Asia Pacific, the global solar wind hybrid systems market is set for swift expansion in the years to come. However, the high installation costs of solar wind hybrid systems are predicted to hamper the growth of the global solar wind hybrid systems market in the near future.
Blue Pacific Solar Products Inc., Zenith Solar Systems, Unitron Energy Systems Pvt. Ltd., Alternate Energy Company, Alpha Windmills, New Ventures, and UGE International Ltd. are some of the leading players operating in the global market for solar wind hybrid systems.
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