"Actionable Insights to Fuel Your Growth"
Electrical energy is the basic need today, and its demand is increasing all over the world. Also, the need for a clean source for energy has gained importance, and as solar energy is renewable energy promoted by government's ambitious green energy targets, it has become a major attraction for investors. Over the last decade countries like China, India, Germany, and USA have come up as solar powerhouses and increased the production of electricity by solar energy which in turn has helped the hybrid solar panel market to grow.
Conventional solar panels use photovoltaic technology to produce electricity while some are used to produce thermal energy using solar energy. Hybrid solar panels not only produce electricity but also utilize the thermal energy of the solar rays. Hybrid solar panels increase the efficiency of solar panels. These panels reduce the energy consumption of buildings, houses, industries, etc. Hybrid solar panels are used in smart structures and also used in processes like desalination. It can also be used in agricultural farms to cogenerate electrical and thermal power.
On the basis of type, the hybrid solar panel market can be segmented into the monocrystalline, polycrystalline, and thin-film solar panel. Hybrid solar panels will be used to supply industrial hot air, indoor space heating and cooling, agricultural dehydration. Such panel can be used in conjunction with building heating, ventilation and air conditioning system for condenser desiccant, heat pump and heat pipes. The hybrid solar panel can be used with carbon-neutral technologies like earth air heat exchanger.
To gain extensive insights into the market, Request for Customization
Hybrid solar panels are used to generate hot source for vapor absorption chillers which provide energy-efficient cooling of water which can be used for myriad applications. Such panels are used in building integrated photovoltaic systems. In the present era, hybrid solar panels are primarily used for domestic heating water. Advanced hybrid solar panels use nano-fluids to efficiently absorb thermal energy and transfer it to required fluid. Based on application, hybrid solar panels are divided into residential, commercial, industrial, and utilities.
The major market driver for the global hybrid solar panel market is the increasing demand for carbon-neutral energy source around the world. Solar energy is the most adopted amongst the available alternate source of energy as government offers heavy incentives and tax rebates over the installation of solar panels.
The key market restraint for the global hybrid solar panel market is the high cost of installation of the hybrid solar panels. Majority of hybrid solar panel technology except for water heating application is still in research, development & demonstration phase and hence it is not commercially viable.
Some of the major companies that are present in the Hybrid Solar Panel market are Conserval Engineering, VESTFROST, Stiebel Eltron, NIBE Energy Systems, SOLIMPEKS Energy, DualSun, Systovi, Kaneka Solar Energy, Swisswatt, and SUNERG Solar S.R.L.
As the developed and the developing countries are inclined towards the use of solar energy, the global hybrid solar panel market has now been spread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. China stands as the largest producer of solar panels, both traditional and hybrid and also photovoltaic energy in the Asia Pacific region and even in the world. Germany is the largest solar energy producer in Europe followed by Italy, the United Kingdom, Spain, and others. The USA ranks first in North America and Chile in South America where other countries like Canada, Uruguay, Brazil, Mexico have also increased the production of solar energy at a reasonable rate. African continent receives most sunlight & African countries seem to have positive approach towards solar energy in recent time. South Africa is positioned first in production of solar energy in this region by far, followed by countries like Angola, Senegal, Egypt, etc. Research on nascent hybrid solar technology is going in Europe, USA, India, China, etc.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry