Renewable Energy Policy FiT Market Aims to Reduce Use of Fossil Fuels

San Francisco, California, July 27, 2018: The global market for renewable energy policy FiT market is the focus of analysis of market research report by TMR Research. The report, titled “Renewable Energy Policy FiT Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” presents a detailed market intelligence regarding the future growth perspective of the market.

The increased attention on reducing air pollution, controlling emission of carbon, and eliminating the use of fossil fuels have brought attention to renewable energy technologies in the market. Governments are undertaking renewable energy targets as compulsory tasks to generate maximum electricity from renewable energy sources. These reasons are likely to boost the market during the forecast period.

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On the flipside, initial cost of setup and expensive process of installation of renewable energy might curb the growth of market in the future to come. The other obstacles are macroeconomic conditions, grid constrains and regulatory barriers. Various companies in this market are likely to be affected by these factors.

The segments of renewable energy policy FiT market according to technology are solar energy, geothermal energy and bio energy. Solar energy is one of the renewable energy sources that will account to be very promising technology in the future. China became the major country in installing the solar photovoltaic (PV), in 2015. This was followed by U.S and Brazil adopting geothermal and bio energy technologies.

The geographical segment of renewable energy sources are Asia Pacific, Europe, North America and RoW (Rest of the World). Among them Asia Pacific will be witnessing significant growth in the market during the forecast period due to developing countries like Japan, China and India generating demand for renewable energy in the market by adopting net metering, feed in tariff and tax credit by the government.

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Some of the leading companies in the market are First Solar. Inc, Borea Construction ULC, Hanwha Q Cells GmbH, Black & Veatch Holding, Areva, JUWI AG., Gamesha Corporation, Mannvit, Mortenson Company, Martifier Solar, Prenecon S.A., Ormat Technologies Inc., AMEC Foster Wheeler PLC, Suzlon Energy and Sunedison Inc.,

Renewable Energy Policy FiT Market : The report provides company market share analysis of the various industry participants

Global Renewable Energy Policy FiT Market: Snapshot

The global renewable energy policy feed-in-tariff (FiT) market is reporting a remarkable rise. With the increasing global focus on decreasing air pollution, controlling carbon emissions, and reducing the dependency on coal and various other fossil fuels, the adoption rate of renewable energy technologies has escalated across the world significantly, which, as a result, is reflecting positively on this market.

Economies across the world are aiming to promote the adoption of renewable energy in an effort to reduce the dependence on fossil fuels. Consequently, a number of compulsory renewable energy targets are being deployed by the governments to compel the energy producers to generate the major part of the electricity from various renewable energy sources. This, along with the government-sponsored incentives and the relative rise in the cost competitiveness of these sources in comparison with other traditional power generation sources, is also fueling the uptake of renewable energy FiT policies.

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In addition to these, the surge in the number of employments and the positive influence of FiT on the economic condition is likely to encourage its adoption, propelling the market noticeably in the near future. However, the high installation and initial costs associated with shifting to renewable energy may hinder the growth of this market in years to come.

Global Renewable Energy Policy FiT Market: Overview

To reduce the dependency on fossil fuel, emphasis is laid upon using renewable energy. In order to promote renewable energy, governments across the world are setting mandatory renewable energy targets. It has become compulsory for power producers to produce certain proportion of the total electricity from renewable energy sources. Over 150 countries around the world have adopted one or the other renewable energy targets. Feed-in tariff (FiT) is one such policy. This policy is a performance-based incentive that promotes rapid deployment of renewable energy technologies. Economic growth and job creations are expected to receive a major boost through well-designed feed-in tariff policies.

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In the report, TMR Research presents a thorough analysis of drivers and restrictions in the global renewable energy policy FiT market. It also offers insight to the various segments and regions of the market.

Global Renewable Energy Policy FiT Market: Key Trends

The adoption of renewable energy technology is receiving impetus from the growing need to decrease one’s dependence on coal and other fossil fuels, concerns over global warming, and an increasing stress on the reduction of air pollution. In addition, conventional power generation sources are much dearer when compared with renewable energy sources, thereby aiding the demand for renewable energy technology. By encouraging the use of renewable energy sources, the importance given to renewable energy policy FiT has increased, thereby driving the overall market.

In terms of renewable energy installation, wind energy is the chief contributor to the global market and is applied extensively. Solar, bio energy, and geothermal are the next most widely used renewable energy sources.

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Solar energy is considered to be a promising technology in the near future and is broadly being adopted worldwide. In 2015, China became the major installer of solar photovoltaics (PV), and in the following year, the U.S. and Brazil adopted a large additional capacity of geothermal and bio energy technology.

Global Renewable Energy Policy FiT Market: Regional Analysis

Geographically, the global renewable energy policy FiT analysis market can be segmented into North America, Asia Pacific, Europe, and Rest of the World. North America has held a significant market share and is expected to continue its positive trajectory in the forecast period as well. The renewable energy policy FiT market is considerably gaining momentum due to well-designed feed-in tariff policies, especially in regions such as North America and Europe. The U.S. and few major countries of the European Union, including Germany and France, have rigid mandates for renewable energy technology adoption. Currently, there are seven U.S. states such as California and Washington that mandate feed-in tariffs.

Asia Pacific is also significantly contributing to the growth of the market. Developing economies such as China, India, and Japan are keen on meeting renewable energy targets. There is enough importance given to reduce carbon emissions and tax credit, incentives such as feed-in tariff, and net metering, among others are provided by governments to boost renewable energy technology adoption. This is likely to boost the APAC market.

Global Renewable Energy Policy FiT Market: Key Players

The report profiles key players in the global renewable energy policy FiT market based on various attributes such as company overview, business strategies, recent development, and financial overview. Borea Construction ULC, First Solar, Inc, Hanwha Q Cells GmbH, Areva, Black & Veatch Holding, Gamesa Corporation, JUWI AG., M.A. Mortenson Company, Mannvit, Martifier Solar, Ormat Technologies Inc., Prenecon S.A., Sunedison Inc., AMEC Foster Wheeler PLC, and Suzlon Energy are some of the leading organizations operating in the global renewable energy policy FiT market.

Renewable Energy Policy FiT Market Rides on Depleting Energy Resources

San Francisco, California, May 11, 2017 : The escalating need to reduce dependency on depleting energy resources is prompting a number of governments in developed and emerging nations to mandate power producers to generate a portion of energy themselves via renewable means. This is the primary factor driving the demand for Feed-in-Tariff (FiT), which is a performance-based incentive policy pertaining to renewable energy. According to a report from TMR Research, titled “Renewable Energy Policy FiT Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” the demand will be surging at a rapid rate until 2025.

The TMR Research report has been prepared to act as a credible business document for stakeholders of this market such as renewable energy engineering, procurement, and construction (EPC) firms, power producers, consulting companies of the energy and power sector, government officials, and investment banks. This report on the global renewable energy policy FiT market provides detailed analysis of all the factors that may influence the demand in the near future, estimates the lucrativeness of various segments of the market, and provides detailed information on some of the leading companies currently operating in this market. The report also identifies the key renewable energy projects across the world, especially those with major technologies.

The report observes that apart from government mandates, the demand in the global renewable energy policy FiT market is gaining traction from growing awareness pertaining to global warming. Renewable energy is clean, and investors are now willing to pay for long-term benefits, although high cost of installation continues to hinder the market from achieving its full potential.

Based on technology, the global renewable energy policy FiT market can be segmented into solar, wind, bio energy, and geothermal. Geographically, the report evaluates the opportunities available in every important region such as North America, Asia Pacific, Europe, and the Middle East and Africa. The U.S., the U.K., Canada, India, Japan, China, France, Germany, and Brazil are some of the key countries identified by the report in this market.

Some of the leading companies currently functional in the global renewable energy policy FiT market are First Solar, Inc, Borea Construction ULC, Hanwha Q Cells GmbH, Gamesa Corporation, Areva, Black & Veatch Holding, JUWI AG., Mannvit, Martifier Solar, M.A. Mortenson Company, Ormat Technologies Inc., Sunedison Inc., Prenecon S.A., Suzlon Energy, and AMEC Foster Wheeler PLC. There is plenty of fodder available for each of these companies across various countries, although growing awareness about the benefits of renewable energy despite the high cost remains the primary focus, apart from developing cheaper and more adoptable technology.