Hybrid Power System Market, By Type (Solar-diesel Hybrid, Wind-diesel Hybrid, Hydro-diesel Hybrid, and Others), By End-use (Commercial, Industrial, Residential, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Aug 2024

Code : CMI7227

Pages :120

Formats :

Excel and PDF

Industry : Energy

Market Concentration and Competitive Landscape

Hybrid Power System Market Concentration By Players

Close-monitor your Competitor's Move, Request sample copy

Rising electricity needs of remote communities

While power grids are expanding to reach new areas, plenty of remote locations across the world still lack access to centralized electricity. Reliance on costly and polluting diesel generators to meet their needs is not a sustainable long-term solution. Hybrid systems offer a reliable alternative by leveraging the natural renewable energy sources found near these communities. Solar-wind-battery hybrids can be easily set up to provide electricity for homes, farms, schools, and small enterprises located far from existing transmission networks. They reduce fuel transportation costs and are less prone to price volatility in oil markets.

Remote regions with good solar irradiance and wind potential like villages in Australia, islands in Southeast Asia, and off-grid mines in Africa are rapidly adopting hybrid power. As populations grow in these areas, their energy demands will also rise steadily which can be sufficiently met through an optimized hybrid system design. Some communities are even generating surplus power using hybrids that is sold back to main grids or nearby markets. This helps improve rural livelihoods and bridge the energy access divide. With their versatile ‘anywhere’ capability, hybrid systems will continue playing a pivotal role in electrifying the world’s most inaccessible areas.

Key Players Insights