Renewable energy market is a fundamental part of the energy transformation across the globe in coming years. Cheap technologies, rising awareness of environment & sustainability, and stringent government regulations and incentives are the main factors driving renewable energy market in the future. Since Paris Agreement 2016, more than 170 nations across the globe have established renewable energy targets. Of these, 150 nations have put forth policies and regulations in action to gain required investment in renewable energy technologies. Public administrations across regions are looking forward to partnerships and collaborations with private renewable energy technology & service providing companies.
In 2017, one out of every five units of energy across the globe is being delivered via renewable energy. Renewable energy technologies are looked forward as a first option in modernising and upgrading energy systems across the planet. In 2016, more than 90% of the total renewable energy investments were focused on solar and wind power systems. Other notable investments in renewable energy market in 2016 were in areas of geothermal, waste to energy, biomass, biofuels, marine energy, and small hydropower plants. Amid increasing investment, market for both solar and wind power systems have become competitive. Competition has resulted in price war amongst the key players, thereby reducing overall cost of solar and wind power technology. Since 2009, overall cost of both solar and wind power has reduced by nearly a third. Falling technology prices would motivate consumers and grid companies to invest in solar and wind power in the medium term.
For renewable energy market, we are focusing on technologies and services. Renewable energy market reports from OBRC showcases strategic analysis through models like see-saw analysis, 360-degree analysis, Porters five force and so on. The market value is estimated keeping consumer demand, technology pricing, adoption, and product lifecycle into perspective. The report segmentation is charted out with consultation from industry experts. The final estimation values of niche market are also rectified from industry experts via primary research. Our reports provide company profiling for top fifteen players within each of the niche renewable energy market. For each company, we offer their product portfolio, strategic initiatives, and SWOT analysis.
Renewable energy comes from distributed source. With increasing capacity of solar and wind energy, distributed generation is bound to bring about challenges and opportunities into the sector. Power companies (especially in developed countries) are looking forward to integrate the distributed sources of energy to form a sustainable smart grid network. Accelerating renewable energy market would constantly bring about changes in policies and regulations supporting market deployment. In the long term as the renewable energy market matures, governments and regulators are bound to adopt policies to suit changing market conditions. In the medium term, policy trend shows power sector shifting from conventional tariff based system to auction based one. Over 67 countries have so far carried out auctions to deploy renewable energy systems in 2016, an increase from six in 2005. Auctions of renewable power have resulted in recording low prices for both solar and wind power in 2016. At OBRC, our analysts are constantly keeping tab on changing regulatory environment. OBRC reports provides regulatory framework within each of the niche renewable energy market for leading regions.
Recent reports on renewable energy markets are global smart solar market, global solar tracker market, global fuel cell market, global concentrated solar power market, global power boilers market and so on. Renewable energy market reports are constantly being updated and researched by our analysts. Some of the reports our analysts currently working on are global offshore wind market, global direct methanol fuel cell market, global virtual power plant market, global synchronous condenser market, global string inverter market, global direct methanol fuel cell market and so on.