Key green energy technologies include solar photovoltaic (PV), hydropower, bio-fuels, wind energy, and geothermal. Demand for green energy has gained significant traction over the past decade led by growing environmental issues associated with conventional sources of energy and need for energy security. The recent spurt in government support and favorable regulations across countries such as China, Germany, the U.S., India, France and the UK has led to increasing investments in the renewable energy market. According to the European Commission, the European Union aims to obtain 20% of energy from green sources by 2020. This led to high growth in adoption of green energy technology in Europe during the last few years. Higher mix of green energy in the energy portfolio would enable the region to significantly reduce GHG emissions and decrease dependence on imported energy. A gradual shift in investments over the coming years towards a green energy portfolio is necessary to avoid and major damage to climate.

In-depth research report on Global Green Energy Market with Full TOC at : http://www.transparencymarketresearch.com/green-energy-market.html

Transparency Market Research, a leading U.S. based market research firm, analyzes the global market for green energy and expects a compounded annual growth rate (CAGR) of 8.3% for the period 2013 to 2019. According to this research, during the coming years, the adoption of green energy is anticipated to be driven by the increasing government regulations, increased reliability and reducing cost for green energy.

Growth in demand for newer technologies, services and processes is anticipated to emerge out of the ongoing shift towards greener energy resources. Additionally, energy consumption has been growing globally. According to the World Energy Outlook, energy consumption would rise by almost 60% over the next 25 years; developing countries are anticipated to account for majority of the growth. This has raised the concerns related to energy security. Use of green energy sources provides a sustainable way to address the energy security issue. Thus, energy security issue is anticipated to be key driver for the growth of green energy market during the coming years. Furthermore, there has been a significant reduction in prices of green energy such as wind and solar due to technology upgrades and increased competition. The levelized cost of electricity (LCOE) for green energy technologies such as solar and wind are increasingly becoming more competitive to traditional non-renewable energy sources. The reduction in costs associated with providing green energy has made it economically more viable.

For further inquiries, click here : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=160