Increasing Depletion of Non-renewable Resources Propels Demand for Green Energy

The economic development of a region is dependent of the availability of energy in that region to a great extent. With the advancing economy across all regions, the energy consumption has been increasing by leaps and bounds, creating a threat to the sustainability of conventional energy sources. Apart from this, generating electricity from traditional resources also causes significant environmental pollution.

The increasing depletion of non-renewable resources of energy and the growing need to curb environmental pollution have bolstered the demand for green energy at a worldwide extent. According to a report, published by Transparency Market Research (TMR), the global green energy market stood at US$470 bn in 2012. It is expected to rise at a healthy CAGR of 8.30% during the period from 2013 to 2019 and reach a value of US$832 bn by the end of 2019.

Asia Pacific Emerges as Lucrative Market for Green Energy

The improvement in economic condition in Asia Pacific has fueled the demand for energy in this region, giving a boost to its potential as a lucrative market for green energy. International market players are specifically focusing on the Asia Pacific green energy market for further expansion, owing to which, it is expected to report a CAGR of 10.30% between 2013 and 2019, higher than that of the global average.

The investment in the Asia Pacific green energy market has been far more than that of any other region. As of now, this market is receiving an investment of approximately US$40 bn per quarter, the highest in the global green energy market.

Japan Unveils World’s Largest Floating Solar Power Plant

Kyocera Solar, the Kyoto-based photovoltaic equipment and systems manufacturer, has recently launched the world’s largest ‘floating’ solar power plant in Japan. This joint venture of Kyocera and Century Tokyo Leasing Corp. floats on Sakasamaike pond in Kasai City, Hyogo. The plant has started operating from June 2015 and is estimated to produce around 2.3 MW of electricity, fulfilling the demand generating from 820 households. The electricity generated from the plant will be sold for approximately US$0.78 mn annually to Kansai Electric Power in Osaka.

Inspired by the success of this plant, the Government of Taiwan has also decided to construct floating solar power facilities to raise the renewable energy capacity of the country.

Calpine Corp, ABB Ltd., Kyocera Solar, Alterra Power Corp., Nordex SE, Sharp Corp., Hanwha Q Cells GmbH, U.S. Geothermal Inc., Yingli Green Energy Holding Co. Ltd., Suzlon Energy Ltd., GE Energy, Enercon GmbH., First Solar Inc., Suntech Power Holdings Co. Ltd., JA Solar Holdings Co. Ltd., Enphase Energy Inc., Siemens AG, Archer Daniels Midland Co., National Hydroelectric Power Corp. Ltd., Aventine Renewable Energy Inc., Trina Solar Ltd., and Power-One Inc. are the major players functioning in the global green energy market.


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