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Energy being the core necessity of various end use industries such as residential, commercial, industrial, electric power, and transportation, has considerable environmental impacts. As per the International Energy Outlook 2017, the global energy consumption is expected to grow by 50% between the years 2010 and 2040, along with the increasing use of fossil fuels. This is also supposed to give a boost to the renewable energy market. However, currently, around 29 countries globally fulfill more than 90% of their energy requirements from fossil fuels.
Several industries across the globe such as oil and gas, chemical, and transportation, among others are dependent on fossil fuels for electricity/power generation. Although these fuels are very effective, they are subjected to depletion in the long run. Moreover, these fossil fuels are the origin of greenhouse gases which further lead to global warming. Thus, the shift from fossil fuels to renewable sources of energy and the development of clean energy are of utmost importance for effectively dealing with climate change and its effects.
The shift from fossil fuels to renewable and clean sources of energy is of utmost importance for effectively dealing with climate change and its effects. The renewable energy market has seen the emergence of many new and renewable energy resources like waste to energy market, wind or solar hybrids, more sophisticated grid management techniques, and increasingly affordable storage systems.
BIS Research understands the need for sustainable and renewable energy sources and has compiled market intelligence on emerging green energy technologies. While highlighting the key driving and restraining forces for the renewable energy market, these reports also provides a comprehensive section of the prominent consortiums, compliances, and regulatory bodies, as well as their involvement in the temperature control market through in depth renewable energy market analysis.
In addition to this there is a lot of work being done in the research and development of the companies as the companies are investing substantially to make their existing systems more efficient to be environment friendly. The main aim of these regulations is to ensure that the renewable energy market can grow through the companies' efforts on reducing their carbon footprint and increasing their energy efficiency, which not only protects the environment but also reduces the usage cost.
BIS Research's renewable energy market report talks about the dynamics of the market and highlights the key drivers and restraining forces along with certain untapped opportunities of this market. The study provides the readers with an adequate understanding of the current status of the market by presenting detailed information on existing competitors as well as new competition in the market.
Renewable energy possesses a vast expanse of untapped market potential, and irrespective of its abundant availability, it is yet to achieve a wide scale adoption among both government and private bodies.
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