Renewable energy market anticipated to exceed US$1.5 trillion by 2025

James Marshall
August 23, 2019

A recent research report by Research Nester titled "Global Renewable Energy Market: Global Demand Analysis & Opportunity Outlook 2027" delivers detailed overview of the global Renewable Energy market in terms of market segmentation by Energy Type, by Application and by end user.

However the constraints associated with high installation costs are expected to negatively impact the market for Renewable Energy. Speaking at the final round of two-day consultations on finalisation of new draft renewable energy policy, Chairman Prime Minister's Task Force on Energy Nadeem Babar stated, "The capacity payments to the thermal IPPs during the last fiscal year have nearly eaten up efforts of present government against theft and recovery drives resulting in the highest-ever recovery figures". The Renewable Energy report also includes a data of the key players performing in this market. The discoms can also buy renewable energy certificates in lieu of mandated clean energy supplies, from the developers or renewable power generators.

During discussing the salient features of the new Renewable Energy Policy, Secretary Power Division said that an attempt has been made to give major role to the Federating Units in major decision making regarding planning and feasibilities of projects by introducing concept of Steering Committee with membership of all Federating Units and the Federal Government. The global Renewable Energy market report executes a thorough study of the chronicled information, current and additionally upcoming market trends of Renewable Energy market and future believable outcomes. However, the Renewable Energy market report stands to be precise in collecting the information that can be viewed by number of users which comprise researchers, Renewable Energy specialists, and consultants.

For now, wind is more popular than solar energy with commercial and industrial (C&I) customers, but Shreve expects power market dynamics and the continued reduction of the cost of solar to place significant competitive pressure on wind.

It provides summary of the Renewable Energy market share analysis of main regions in key countries such as North America, Asia-Pacific, Europe, Latin America, Middle East and Africa.

The Europe renewable energy market is projected to grow at a highest CAGR of almost 6.7%, in terms of revenue, during the forecast period. Players in the Worldwide market are aiming to spread their operations to emerging regions. There are around 145 projects initiated by the provinces under the Renewable Energy Policy 2006 and they have to abandon it unless they are incorporated in the New Draft Renewable Energy Policy, the source said.

Analysis based on competence and estimation of the global Mining Renewable Energy Systems Market is crafted through assessable methods to attain a clear insight of current and expected growth patterns. The key player operating and profiled in the market includes ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc.

The Renewable Energy market report offers a ahead looking anticipation on different factors driving or restraining market growth. In addition to the global effort to fight climate change, this is also driven by highly competitive renewable project economics.

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