About Hybrid Renewable Energy System
A hybrid renewable energy system is a combination of more than one power source, where one is a renewable source, and the other is a conventional source of power. Some of these sources include solar PV, wind energy systems, fuel cells, and energy storage systems. The hybrid system harnesses the renewable sources that are freely available to generate electricity combined with a diesel generator. Thus, it reduces the fuel cost and the emissions from diesel power generation. The hybrid system can also be combined with other technologies such as battery storage to improve its effectiveness.
Technavio’s analysts forecast the global hybrid power systems market to grow at a CAGR of 5.87% during the period 2016-2020.
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Covered in this report
The report covers the present scenario and the growth prospects of the global hybrid power systems market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio’s report, Global Hybrid Power Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.