Solar Bio-gas Hybrid Power System Market Size

Solar Bio-gas Hybrid Power System Market size is predicted to reach USD 335 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of solar bio-gas hybrid power system was over USD 50 Billion. With the goal of ensuring a sustainable future, a number of national and international policies have been devised, along with government incentives to minimize the use of fossil fuels. These are being put into practice as a result of recent initiatives to protect the environment from greenhouse gas emissions. The United Nations Framework Convention on Climate Change reports that in order to meet the objectives of the Paris Agreement-which aims to keep the average temperature worldwide below 2 degrees Celsius-many manufacturers are eager to transition to a new technology by putting an integrated power system model into place. It also strengthens the country's ability to adapt to the consequences of the changing climate and provides the path for better energy supply in the direction of a future that uses renewable energy.

Growing demand for clean energy has resulted from growing knowledge of and acceptance of sustainable development goals, which has opened up profitable business prospects in the solar bio-gas hybrid power system industry. The need for more affordable, renewable power production and distribution infrastructure is increased by the demand for better energy choices in both rural and urban areas. Therefore, it is projected that the overall market size would grow during the forecast period due to a surge in the adoption of sustainable energy.