Hybrid Power Solutions Market: COVID-19 Impact and Global Analysis Forecast to 2028

Hybrid power solutions furnish turnkey hybrid installations in order to minimize the overall operation emissions and costs. This is achieved by integrating renewable energy resources into diesel power plants and also ensures a constant and reliable supply of power. For those systems which are without a grid connection, the reliability is generally safeguarded by diesel based power plants. These power plants can be easily combined with other renewable sources of energy to reduce the overall fuel costs which are associated with emissions and logistics, while ensuring the same level of electricity generation and reliability in supply of power. Hybrid Power Solutions furnishes consistent power and integrates with higher levels of wind and solar energy combined with diesel power plants. This hybridization of energy resources leads to a considerable reduction in the overall operating costs and harmful carbon emissions.

The growth of the global hybrid power solutions market is attributed to the rapid growth of hybrid power generation projects especially in the off grid sites. Moreover, consistent power generation as well as minimized fuel consumption and reduced maintenance and operation costs are some of the key factors driving the growth of the global hybrid power solutions market. In addition, hybrid power solutions are widely deployed in commercial, residential, telecom and other industries, thus, higher investments and payback time period are some of the key aspects fuelling the growth of the global hybrid power solutions market. Moreover, rapid growth especially in the hybrid power generation in off-grid sites, and constantly increasing demand for electricity coupled with limited availability of reserves of fossil fuels has persuaded various economies to import huge quantities of crude gas and oil which in turn is impacting the growth of these economies. Additionally, the rising combustion of fossil fuels also leads to harmful greenhouse gas emissions which is further anticipated to compel these economies to opt for more sustainable renewable sources of energy such as wind, solar and bio-fuels especially for power generation since these fuels can be easily employed as decentralized systems.

Globally the hybrid power solutions market can be divided on the basis of system type, power rating, end-user and geography. Based on system type, the global market segmented into wind-diesel, solar-diesel and solar-wind-diesel. On the basis of power rating, the global market can be segmented into up to 10 KW, 11 KW - 100 KW and above 100 KW. Based on end-user, the global market can be segmented into residential, commercial and others. On the basis of geography, the global can be segmented into Europe, Asia-Pacific, North America and Rest of the World.

Some of the key players in the global market include Electro Power Systems S.A., Danvest Energy As, Flexenclosure Ab, Ltd., Eltek, Huawei Technologies Co. Ltd., Heliocentris Energy Solutions Ag, Poweroasis Ltd., Pfisterer Holding Ag, Sma Solar Technology Ag, Siemens Ag, Vertiv, Vergnet SA and ZTE Corporation among others.

Globally the hybrid power solutions market can be divided:

By Type:
• Wind-diesel
• Solar-diesel
• Solar-wind-diesel

By Power Rating:
• 10 KW
• 11 KW - 100 KW
• Above 100 KW

By End- User:
• Residential
• Commercial
• Others

By Region:
• Europe
• Asia-Pacific
• North America
• Rest of the World