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Time Business News

28 minutes ago

• Time Business News

Electricity Mechanism and Adverse Components in Hybrid Power Systems Market

An increasing electricity generating mechanism called a hybrid power system combines many energy systems, particularly renewables, to provide the best potential output configuration. Systems that produce electricity from two or more sources typically renewable ones are identified as hybrid power systems. By combining components to existing energy infrastructure, hybrid energy systems might help reduce expenses, environmental effects, and system disruptions. In the hybrid power systems market multiple factors, such as the growing demand for electrification, the need for more sustainable electricity, and the growth of renewable energy technologies, are fuelling the market for hybrid power systems. Hybrid power systems have the ability to combine wind and solar renewable sources for conventional backup systems that reduces the fuel dependency. Key Growth Drivers and Opportunities Expansion in Electrification: For dependable, economical, and ecologically friendly power generation, the hybrid power systems are becoming an increasingly significant alternative as the markets are witnessing the rise in global electrification. Certain contributing factors such as profitable rules, technological advancement and renewable energy resource utilization are factors that drive the hybrid power systems. Off-Grid Growth in Hybrid Systems Power: In the remote and off-grid regions there is growing demand for sustainable and off-grid locations due to the great push for hybrid power systems. The systems offer an impactful measure providing a consistent supply of electricity by integrating the conventional power with renewable energy sources, leading to lower the cost of operation and dependency on fuel. Challenges The high initial investment costs of hybrid power systems are due to costs of sophisticated technology, grid integration, energy storage, and infrastructure. It cost a fortune of funding for renewable energy sources setting up such as wind turbines and solar panels as well as effective battery storage. Innovation and Expansion Gulf States Tap Chinese Batteries for Power Renewable Ambitions In June 2025, a large-scale battery energy storage is being rapidly deploying by Saudi Arabia and UAE for integration of intermittent solar and wind into their power grids, aiming for reliable 24/7 clean energy. India Proposes Virtual Power Agreements Driving Renewable Energy Trading In June 2025, the draft regulations were introduced by India's CERC to enable virtual PPAs that promote the investment in renewable and hybrid power projects without physical delivery TotalEnergies' Saft Building 1 GWh Battery Hub On June 6, 2025, Saft, a subsidiary of TotalEnergies, has been selected by leading Asian renewable energy developer Gurīn Energy to supply a battery energy storage system (BESS) for the latter's major energy storage project being developed in Fukushima, Japan. This will help Japan progress towards national renewable energy targets of 40-50 percent of the generation mix by 2040, up from 27 percent today, as well as the country's goal of achieving carbon neutrality by 2050. Saft will deliver a fully integrated lithium-ion (Li-ion) battery system with a total of over 1 gigawatt-hours (GWh) of storage, together with power conversion and power management systems from its partners, as well as Saft's I-Sight cloud supervision and data management systems featuring AI-based functionalities. The BESS will also be installed, commissioned and serviced by Saft. India's SECI Envision Renewable Expansion till 2030 In June 2025, 2 GW of solar power tender were launched by India's SECI with co-located battery storage systems enhancing grid flexibility and supports the country's targeted renewable expansion through 2030 Innovation drives, Expanding Markets DANI GROUP, Siemens Energy, General Electric Company, and other companies are recognized for their significant contributions to the hybrid power system market. Major strategies for hybrid power system companies consist of strong emphasis on integrating diverse renewable energy sources such as solar and wind, advanced energy storage solutions innovation, contributing to the hybrid power system market diversification. About Author: Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business. TIME BUSINESS NEWS

Business Standard

31 minutes ago

• Business Standard

Over 450 killed in India heatwaves in 2024, says WMO climate report

As Asia warms nearly twice as fast as the global average, fuelling more extreme weather and wreaking a heavy toll on the region's economies, ecosystems and societies, India lost more than 450 lives due to intense heatwaves in 2024, according to the World Meteorological Organization (WMO). India, especially northern parts, witnessed temperatures rising to nearly 50°C last summer. The total death toll due to all other natural calamities, such as floods and lightning, last year was more than 2,000. Asia's average temperature in 2024 was about 1.04°C above the 1991–2020 average, ranking as the warmest or second warmest year on record, with widespread and prolonged heatwaves. The warming trend between 1991 and 2024 was almost double that during the 1961–1990 period, the WMO's State of the Climate in Asia 2024 report said on Monday. Asia, the continent with the largest land mass extending to the Arctic, is warming more than twice as fast as the global average because 'the temperature increase over land is larger than the temperature increase over the ocean,' the report said. The entire oceanic area of Asia has experienced surface ocean warming in recent decades, with particularly rapid rates of sea-surface temperature (SST) increase observed in the northern Arabian Sea and the Pacific Ocean portion of the region. The area-averaged time series indicates average SST warming at a rate of 0.24°C per decade, nearly double the global mean rate of 0.13°C per decade. The area-averaged SST for 2024 was the highest on record (1982–2024). Variations in SST alter the transfer of energy, momentum and gases between the ocean and the atmosphere. SSTs influence weather and climate patterns, such as extreme rainfall in Indonesia and India, the Asian summer monsoon, wildfire activity and sea-ice variability. During 2024, four named tropical cyclones formed over the north Indian Ocean. Three out of the four cyclones—Remal, Dana and Fengal—formed over the Bay of Bengal, and one—Asna—formed over the Arabian Sea. Severe cyclonic storm Remal made landfall near the Mongla and Khepupara coasts in Bangladesh and West Bengal, India, on May 26, 2024. In Bangladesh, the highest recorded wind speed was 111 km/h on May 27, and the storm surge, accompanied by extremely heavy rainfall, caused flooding of up to 2.5 m in the coastal districts. Cyclonic storm Asna developed in August over the Arabian Sea, a rare occurrence—it has happened only three times since 1891. The storm's impact on Oman included rough wave heights ranging from 3 to 5 m. In 2024, the mean rainfall over most of the Asian summer monsoon region was above normal. North-east Asia and South Asia were particularly impacted by the enhanced intensity of the East Asian summer monsoon and the Indian summer monsoon, respectively. The onset of the monsoon (June–September) in India was normal in 2024 at 108 per cent of its climatological normal for the 1971–2020 period. Numerous extreme precipitation events also took place last year, causing landslides, including one in Wayanad, northern Kerala, that killed over 350 people. In the case of lightning, it claimed around 1,300 lives in various parts of the country. One particularly deadly lightning event killed 72 people on July 10 in northern India, affecting Uttar Pradesh, Madhya Pradesh, Maharashtra, Rajasthan and Jharkhand.

Business Recorder

37 minutes ago

• Business Recorder

Indian equity benchmarks track Asian peers lower on Mideast tensions

India's equity benchmarks inched lower on Monday, tracking Asian peers, as investors assessed the likelihood of Iran's response to the United States' bombing of its nuclear sites. The indexes pared some losses as Brent crude oil futures retreated below $77 per barrel, after hitting a five-month high earlier. The Nifty 50 closed 0.56% lower at 24,971.9 and the BSE Sensex fell 0.62% to 81,896.79, after trading as much as 1.1% lower earlier in the session. The U.S. index futures too recovered, while the MSCI Asia ex Japan was down 0.8%, trimming some losses. Higher crude oil prices are a negative for India, which depends heavily on imports for its energy requirements, as they could stoke inflation and widen the fiscal deficit. 'Most of the market is not buying the argument that Iran would be able to take control of the Strait (of Hormuz) and block oil exports. Moreover, Iran also gets a substantial chunk of its own imports through that route,' said Arun Malhotra, fund manager at CapGrow Capital. Investors are worried that Iran's retaliation to the United States' attacks on its nuclear facilities may include closure of the Strait of Hormuz, through which roughly a fifth of global crude supply flows. Indian stocks set to slip after US attack on Iran's nuclear sites However, most analysts and brokerage firms, including UBS, said they do not expect a prolonged supply disruption. Information technology stocks, which get a significant chunk of revenue from the U.S., shed 1.5% after Accenture posted decline in outsourcing orders due to a cutback in U.S. government spending and tariff uncertainty. The broader, more domestically-focused mid-caps and small-caps added 0.4% and 0.7%, respectively, partly driven by gains in shipping and defence companies. Bharat Electronics rose 3.1%, and was among top three Nifty gainers, on securing orders worth 5.85 billion rupees ($67.6 million).