Solar Bio-gas Hybrid Power System Market Size & Share, by Component (Solar PV Module, Bio Gas Generator, Diesel Generator, Battery, Converters); Location (On-Grid, Off-Grid); End-Use (Residential, Industrial, Commercial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5447
  • Published Date: Dec 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Solar Bio-gas Hybrid Power System Market size is predicted to reach USD 335 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of solar bio-gas hybrid power system was over USD 50 Billion. With the goal of ensuring a sustainable future, a number of national and international policies have been devised, along with government incentives to minimize the use of fossil fuels. These are being put into practice as a result of recent initiatives to protect the environment from greenhouse gas emissions. The United Nations Framework Convention on Climate Change reports that in order to meet the objectives of the Paris Agreement-which aims to keep the average temperature worldwide below 2 degrees Celsius-many manufacturers are eager to transition to a new technology by putting an integrated power system model into place. It also strengthens the country's ability to adapt to the consequences of the changing climate and provides the path for better energy supply in the direction of a future that uses renewable energy.

Growing demand for clean energy has resulted from growing knowledge of and acceptance of sustainable development goals, which has opened up profitable business prospects in the solar bio-gas hybrid power system industry. The need for more affordable, renewable power production and distribution infrastructure is increased by the demand for better energy choices in both rural and urban areas. Therefore, it is projected that the overall market size would grow during the forecast period due to a surge in the adoption of sustainable energy.


Solar Bio-Gas Hybrid Power System Market
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Solar Bio-gas Hybrid Power System Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~5%

Base Year Market Size (2023)

~USD 50 Billion

Forecast Year Market Size (2026)

~USD 335 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Solar Bio-gas Hybrid Power System Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increasing Need to Reduce Carbon Dioxide Emission - Compared to standalone diesel generators, hybrid power systems are more carbon dioxide-efficient and therefore more convenient. According to studies, the annual carbon dioxide produced by solar biogas hybrid power systems was 599.75 kg, but diesel generator systems produced 60 times more carbon dioxide than the hybrid systems. The market is anticipated to grow over the forecast period due to increased global awareness and a desire to reduce carbon emissions.
  • Increasing Integration in Semi-Urban Areas - Hybrid solar-biogas power generating systems are becoming more and more popular in peri-urban areas like Ghana, Africa, and other developing nations worldwide. A green usage technology, the solar-biogas hybrid power production system is anticipated to improve rural areas by supplying clean energy to meet people's fundamental needs and remove their reliance on fossil fuels. In addition to providing green energy in place of fossil fuels like coal, charcoal, and petroleum, the solar-biogas hybrid power generation system is probably going to provide social advantages and boost the welfare of that country's economy. This is anticipated to drive the growth of solar bio-gas hybrid power system market in the forecast period.

Challenges

  • Growing Upfront Costs - The upfront costs for solar bio-gas hybrid power systems can be high, which can make them unaffordable for some potential customers. This is owing to the high cost of solar photovoltaic panels and biogas digesters. This is set to hamper the market growth by the end of 2036.
  • Technical Complexities Associated with the System is Predicted to Pose Restriction on Market Growth in the Upcoming Period
  • Policy and Regulatory Obstructions are Anticipated to Restrict the Market Expansion during the Projected Period.


Solar Bio-gas Hybrid Power System Segmentation

Location (On-Grid, Off-Grid)

On the basis of location, the off-grid segment is anticipated to hold 60% share of the global solar bio-gas hybrid power system market by 2036. One of the more demanding markets for solar bio-gas hybrid power system deployment is off-grid sites, where major OEMs could find opportunity. Off-grid sites are places where people do not have access to power via a grid connection. The majority of off-grid sites are found in isolated locations, giving manufacturers the chance to increase their market share of solar bio-gas hybrid power systems in those particular locales. In the near future, this is anticipated to generate employment opportunities and help society and the economy in addition to supplying electricity to off-grid locations.

End-Use (Residential, Industrial, Commercial)

Solar bio-gas hybrid power system market from the residential segment is projected to hold the notable share of 30% during the projected period. The growth of this market can be attributed to the account of the increasing adoption of solar bio-gas hybrid power systems in the residential sector comprising heating and cooking in domestic applications. Biomass energy source serves as a significant energy source for numerous developing nations in Asia. This owing to the fact that these regions are home to households that totally rely on biomass energy sources such as compost, leaves, and agricultural wastes. According to the International Energy Agency report, in the year 2019 wide amount of electricity demand was accounted for from the residential sector which was around 27%.

Our In-Depth Analysis of the Global Market Includes the Following Segments:

                          Component

  • Solar PV Module
  • Bio Gas Generator
  •  Diesel Generator
  •  Battery
  • Converters

                          Location

  • On-Grid
  • Off-Grid

                          End-Use

  • Residential
  • Industrial
  • Commercial

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Solar Bio-gas Hybrid Power System Industry - Regional Synopsis

APAC Market Forecast

The solar bio-gas hybrid power system market in the Asia Pacific region is poised to account for the largest revenue share of 33% by the end of 2036. The Asia Pacific region continues to experience constant development and biomass is a major source of energy for its people. To address the intermittent nature of renewable energy in this region, various methods are currently being developed for providing a continuous power supply from renewables such as large utility-sized battery storage or hybrid facilities. The Asia Pacific region is home to some of the fastest-growing economies in the world, and this leading to increasing demand for electricity. Solar bio-gas hybrid power systems can provide a reliable and sustainable source of electricity to meet this demand. In the Asia Pacific region, primary energy consumption was 277.6 terajoules in 2022, which represents an increase of around 2.1 % compared to last year. The number of units increased by almost 165 exajoules over the period considered, reaching a consumption peak in 2022.

European Market Statistics

The solar bio-gas hybrid power system market in the North American region is predicted to hold a substantial revenue share by the end of 2036. The market value of solar-biogas hybrid power generation systems in Europe is set to increase during the forecast period due to certain government regulations to reduce carbon emissions to achieve the goals set by the Paris Agreement for the next 30 years. It is expected to continue to increase further in the future.  This is expected to boost the market growth of solar bio-gas hybrid power systems in the Europe region during the projected period.  

Research Nester
Solar Bio-Gas Hybrid Power System Market size
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Companies Dominating the Solar Bio-gas Hybrid Power System Landscape

top-features-companies
    • Kestrel Renewable Energy
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • SMA Solar Technology
    • Eaton Corporation
    • Schneider Electric
    •  Siemen Gamesa
    • General Electric Company
    • GE Renewable Energy
    • Husk Power Systems
    • Iberdola
    • RWE International SE

In-the-news

In The News

  • The Spanish energy group Iberd y Bilbao and the British company rolabp plc announced their intention to set up a strategic collaboration in August 2022, which is expected to help speed up transition towards renewable energies.
  • Husk Power Systems, a leading provider of rural clean energy services across Africa and Asia, has opened the first six solar hybrid mini grids located in Nigeria's Nasarawa region in November 2021. This is the first time that a company is deploying multiple mini-grids simultaneously under the Nigeria Electrification Project. The Nigeria Electrification Project is an initiative funded by the World Bank and the African Development Bank and implemented by the Rural Electrification Authority.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5447
  • Published Date: Dec 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand for sustainable sources of energy and need to reduce carbon dioxide emission are some of the major factors anticipated to drive the growth of the solar bio-gas hybrid power system market.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024-2036.

The major players in the market are of SMA Solar Technology, Eaton Corporation, Schneider Electric, Siemen Gamesa, General Electric Company, GE Renewable Energy, Husk Power Systems, Iberdola, RWE International SE, and others.

The off-grid segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Solar Bio-gas Hybrid Power System Market Report Scope
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