The renewable energy sector has shown an exceptional growth over the past two decades. Today, renewable energy is seen as a cheap and clean source of power as opposed to being costly and unreliable earlier. Spain renewable energy market, which is estimated to be worth USD XX billion in 2016 is expected to grow to USD XX billion by 2021, at a CAGR of XX percent.
The world today is faced with an ever growing need for power. Rapid increase in population, along with growing industrialization and urbanization, has kept the worlds energy need on a growth trajectory. The growing energy need cannot be fully satisfied by conventional power generation methods, and this will therefore serve as a major factor enabling the growth of the renewables industry. Another factor that is aiding the renewable industry is the efficient collaboration between the governments, and the private sector. This collaboration, characterised by public policies and industrial investments, has seen innovations in renewable energy technology, ranging from wind to solar. This has resulted in a steep fall in the cost of renewable energy technologies, thereby making it affordable for applications, including small rooftop installations. The growing concerns regarding greenhouse gas emissions and other pollutants that lead to consequences like environmental damage and global warming, are prompting governments to look for cleaner power generation options. This is again proving to be beneficial to the renewables industry.
There are various factors restraining the renewables industry today. One of the major factors is the dependence of renewable energy generation on factors like the weather, which makes it unreliable. Solar and wind energy plants are most affected by these factors. In spite of this, wind and solar are the most popular sources of renewable energy today. The large space requirement of renewable energy plants also makes them an unviable option in some cases. Growing investments and technological advancements are however helping in overcoming some, if not all, of these restraints. There has been a growth in small-scale renewable energy generation in the form of rooftop solar installations, advancement in power storage technologies, and development of smart grids that enable selling additional power back to the grid. These will help overcome the major restraints that the renewable energy industry faces today, thereby boost the growth of the market.
Spain renewable energy market report provides a comprehensive analysis of the market for wind, solar, hydro and other renewable energy sources. This report also includes key project information of both pipeline and upcoming projects. Key drivers and restraints that are effecting the growth of this market are discussed in detail. The study also elucidates on competitive landscape and key market players (both domestic and international) across various types of renewable energy sources.
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