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Technological Breakthroughs of Renewable Energy Integration with Smart Grid Market : Advanced techniques, Global Forecast and Winning Imperatives 2017

Technological Breakthroughs of Renewable Energy Integration with Smart Grid Market : Advanced techniques, Global Forecast and Winning Imperatives 2017

Recent demand and the current scenario as well as future market potential of “Renewable Energy Integration with Smart Grid Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023” globally.

Network of sub stations, transformers and electrical transmission lines constitutes a conventional electric grid which delivery electricity to domestic and industrial needs. Rapid industrialization and population growth resulted in peak load conditions causing failure of grid mechanism. The grid is not designed to accommodate power from various sources such as wind and solar energy. These renewable energy sources provides fluctuating power to grid and if high power is supplied results in failure. So integrating these renewable energy sources with grid operations is becoming difficult due to lack of consistency in delivering power. A need for highly reliable, compact, self-regulating smart grid system which will accommodate and adjust to fluctuating power automatically. Smart grid plays a critical role in integration of various renewable energy. Smart grid is a sum of high quality information, sensing, communication, control and technologies. If taken together results in electric power system that can efficiently integrate the job of all connected users.

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Operational efficiency, optimized voltage and power quality has improved through the use smart grid systems in renewable energy integration. There are some technical, regulatory, policy, economic challenges related to smart grid usage for renewable energy integration. The main driver which favors renewable energy integration with smart grid is the rapid industrialization and population growth which demands more power without any breakdown or failure. Balancing supply and demand during surplus conditions are one of the technical challenges for this type of system. Economic challenges are returns on investments. More returns in such projects would favor more investments and vice-versa.

The basic classification is done based on the type of renewable energy used for integration with smart grid technology such as wind, hydroelectric, biomass, geothermal, solar. This system has very low efficiency when compare to fossil fuels generation. Technological improvement and research and development activities are being looked upon to enhance the overall efficiency of this system. Wind and solar energy delivers more efficiency when compared to other renewable energy sources. Wind and solar energy integration with smart grid would deliver more overall efficiency.

North America is the leader in this segment followed by Europe and Asia. U.S. and Canada holds the largest share for renewable energy integration technologies with smart grid. Over the last seven years, Sweden has added significant grid connected wind power systems. Korea is developing in terms of adding smart grids for renewable energy deployment. Various pilot projects in Austria is under process which has significant potential for wind, solar, hydro power deployment through smart grids. California and Canada are investing on better technologies for better network distribution planning and operations for growing demand for renewable energy sources. India is integrating solar and wind energy for smart grid platform. Rapid industrialization and population growth rate requires more power, China and India are the key markets for renewable energy integration system using smart grid.

Companies involved in smart grid for renewable energy integration are Chevron Corporation, GE Energy Management, Echelon Corporation, Schneider Electric, Siemens AG, Viridity Energy, ZBB Corporation, ABB Limited, Power Analytics Corporation, Honeywell International, Inc., Toshiba Corporation, Pareto Energy Ltd. and others.

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This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

    North America
    Asia Pacific
    Europe
    Middle East and Africa
    Latin America

This report provides comprehensive analysis of

    Market growth drivers
    Factors limiting market growth
    Current market trends
    Market structure
    Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

Browse Report @ https://www.researchmoz.us/renewable-energy-integration-with-smart-grid-market-global-industry-analysis-size-share-growth-trends-and-forecast-2016-2023-report.html

Reasons for Buying this Report

    This report provides pin-point analysis for changing competitive dynamics
    It provides a forward looking perspective on different factors driving or restraining market growth
    It provides a six-year forecast assessed on the basis of how the market is predicted to grow
    It helps in understanding the key product segments and their future
    It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
    It provides distinctive graphics and exemplified SWOT analysis of major market segments

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