FARMINGTON, Conn., March 28, 2013 /PRNewswire-iReach/ -- Renewable power generation is one the most crucial ways of achieving the goal of sustainable development for all countries. Significant capacity additions are being witnessed annually. In 2012, 772.3 Gigawatts (GW) of renewable capacity was installed in 2011 across the world. Of this capacity, wind and solar PV (Photovoltaic) are the major renewable sources of energy and account for 49.3% of the cumulative renewable power installation in the world. According to an upcoming report, "Cost of Power Generation", wind is the largest renewable source and accounts for 36.8% of global renewable capacity. Between 2005 and 2012, cumulative installed capacity of wind power rose from 59.8 GW to 283.9 GW. The future prospects for the wind energy industry appear to be good, largely due to strong government support. By 2020, the wind power cumulative installed capacity is expected to reach 455.8 GW. Meanwhile, global solar PV installed capacity will continue to grow at a CAGR of 15% during the 2013–2020 forecast period to reach 331.2 GW by 2020.
The capital costs of renewable energy generation technologies such as solar PV and solar thermal are currently higher than those of conventional energy generation technologies. However, the capital costs of these renewable energy technologies have been declining over the last four to five years. The major drivers driving down the cost of these technologies are their technological improvements and mass deployments. Additionally, increasing costs during long-term construction and fluctuating fuel costs for conventional power generation are reducing the gap between the electricity costs of these two technologies. These patterns indicate that the Levelized Cost of Energy (LCOE) of renewable energy technologies is becoming competitive with the LCOE of conventional technologies.
Find out more about GBI Research's "Cost of Power Generation" report and request free sample pages at http://www.giiresearch.com/report/gbi264955-cost-power-generation-renewables-compete.html
Output of generator sets in China will be driven by government policies supporting the rapid development of alternative and clean energy such as nuclear power, wind power, and hydropower. Total investments in China's new energy industry are expected to be more than CNY 5 trillion between 2011 and 2020.
The power generation equipment industry in China is expected to maintain an annual compound growth rate of over 10 percent over the next few years. By sector, power generation equipment for wind power, nuclear power, new energy and other clean energy will achieve substantial growth while hydropower generation equipment maintains steady development. Thermal power generation equipment, however, will continue to be depressed.
Find out more about China Research and Intelligence's report "China's Power Generation Equipment Industry, 2013-2017" report and request free sample pages at http://www.giiresearch.com/report/cri257246-research-report-on-chinas-power-generation.html
April 25 – 26, 2013 | India
As China's smart power grid takes off and amasses over CNY 1 trillion in total investments before the end of the decade, India is also massively boosting its smart grid efforts. Increased load needs, a drive to bring electricity to its rural population, and the need to optimize electrical usage are three major concerns driving smart grids in India. The 5th India Smart Grid Summit is taking place in New Delhi, India on April 25 to 26, 2013.
As the leading smart grid event in Asia, the two-day India Smart Grid Summit 2013 features five sessions, over 20 leading Asian power utilities, more than 25 high-level and renowned speakers, more than 30 exhibitors, and over 300 senior level attendees from the global smart grid industry.
Find more market research for the Power Generation industry
With nearly 30 years of market research experience, Global Information, Inc (GII) is the single best resource for companies entering new markets, expanding their business, and securing their positions in their respective industries. With tens of thousands of reports from over 400 publishers in nearly every vertical market, our market research and forecast data can give companies the edge they need to stay ahead of the competition and plan for every contingency.
The reports above are just a few examples from the hundreds of research reports we have available for the power generation market. For a free consultation on the market research you need, contact us today!
About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
Jeremy Palaia Global Information, Inc., 1-860-674-8796, Press@gii.co.jp
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Global Information, Inc.