Renewables is the in demand sector of the power industry today. With the growing popularity of small scale generation and clean energy, the opportunities in the renewable energy industry has never been better. Trinidad & Tobago renewable energy market is expected to grow from USD XX billion in 2016 and reach USD XX billion by 2021, at a CAGR of XX percent.
The growth of the renewables industry over the past two decades has been unprecedented. This has been mainly due to an efficient collaboration between the governments around the world, and the private sector. This coming together, characterised by public policies and industrial investments, has seen innovations in renewable energy technology ranging from wind to solar. The result of this collaboration is the steep fall in the cost of renewable energy technologies, thereby making it affordable for even domestic application. There is presently an increase in concern worldwide, regarding climate change and pollution. This has led to various legislations and agreements, which are helping in the growth of the renewables industry. Another major factor that is promoting the growth of renewables is the increasing need for power. Population increase, 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 help the renewable industry grow.
Power generation, especially solar and wind, which are the most popular renewable sources today are heavily dependent on factors such as the weather, thus making them unreliable. The large space requirement of renewable energy plants also makes them an unviable option in some cases. These factors are however not affecting the growth of the renewables industry, as can be seen from the growing investment and technological advancements in the industry. There is a growth in small scale power generation such as solar rooftop photovoltaic installations. The advantages of smart grids are many also grabbing attention around the world. These factors, in addition to improving battery technologies, are aiding in overcoming the major restraints being faced by renewable energy today.
Trinidad & Tobago renewable energy market report provides a comprehensive analysis of the market for wind, solar, hydro and other renewable energy sources. An analysis of the key companies involved in each of these fields is provided, in addition to an analysis of the key upcoming and pipeline projects.
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