2Q 2021

Analyst Insight: A Hybrid Future for Onshore Renewables

Energy Storage Tracker Insights

Hybrid renewable energy projects and the colocation of renewable sources serve similar functions. These two types of projects hope to achieve 24/7 renewable energy output using the complementary generation profiles of solar, wind, and storage. However, colocation might file separate interconnection requests for each unit, whereas hybrid projects require only a single interconnection, which can lead to more flexible market participation and a higher capacity value. Combining both solar and wind with energy storage allows project developers to maximize the revenue generation from a given amount of land and grid interconnection. Additionally, hybrid projects can reduce transmission and spread installation and permitting costs across the resources.

However, hybrid approaches can complicate the interconnection process and wholesale market operations. Sites need adequate wind and solar resources, enough land, and available transmission capacity. Although those three conditions do not exist everywhere, the growing number of new projects is demonstrating the viability of this model.

This Guidehouse Insights Analyst Insight report provides an overview of the market including market inflection trends, market drivers and barriers, global energy storage market forecasts, regional market analysis of energy storage capacity, and key recommendations for stakeholders in the energy storage industry. The report covers data from the Energy Storage Tracker 2Q21.

Pages 12
Tables | Charts | Figures 4
  • What are some of the leading market trends in the hybrid renewables market?
  • Which markets are leading in energy storage by region?
  • What are recent announcements from hybrid renewables projects?
  • How much energy storage capacity is implemented, planned, or in active development by region?
  • Energy storage technology vendors
  • Smart grid controls and software companies
  • Energy engineering, procurement, and construction (EPC) firms
  • Inverter companies
  • Solar financing companies
  • Utilities
  • Investor community

Introduction

Scope

Executive Summary

Market Inflection Trends

Market Drivers and Barriers

Recent Announcements

Regional Market Overview

Recommendations

Acronyms and Resources

Contact

  • Hybrid Renewables Projects Growth Potential, World Markets: 2021
  • Market Drivers and Barriers of Hybrid Renewables
  • Identified Energy Storage Projects by Project Status, World Markets: 2Q 2021
  • Recent Announcements of Hybrid Renewables Projects