Microgrid market will reach nearly $20 billion by 2020
Under a more aggressive scenario, revenue could reach $36.2 billion annually, the study concludes.
“Microgrids are inching their way into the mainstream, with the focus of the market shifting from technology validation to questions surrounding the most promising business models,” says Peter Asmus, principal research analyst with Navigant Research. “The number of companies active in the space, and the range of applications of microgrids, are growing exponentially, yet there is little consensus on the pace of development in the coming years.”
It has become clear that recentlyÂ’s modern, digital economy requires a more advanced, robust, and responsive power grid framework than what currently exists, especially in the United States, the worldÂ’s leading market for microgrids. According to statistics from Lawrence Berkeley National Laboratory, 80 percent to 90 percent of all grid failures begin at the distribution level of electricity service. This is the exact portion of the power system where microgrids operate, according to the report, bolstering reliability from the bottom up, rather than from the top down.
The report, “Microgrids”, analyzes the global market for microgrids in five key segments commercial/industrial, community/utility, campus/institutional, military, and remote and two new subsegments grid-tied UDMs and DC microgrids. The report provides an analysis of the market issues, including business cases, opportunities, and implementation challenges, associated with microgrids.
Global market forecasts for capacity and revenue, broken out by scenario, segment, region, country, and U.S. state, extend through 2020. The report also examines the main technologies related to microgrids, identifies nine different business models applicable to microgrid development, and profiles key market players. An Executive Summary of the report is available for free download on the Navigant Research website.
Related News
Is a Resurgence of Nuclear Energy Possible in Germany?
BERLIN - A year has passed since Germany deactivated its last three nuclear power plants, marking a significant shift in its energy policy.
Nuclear fission once heralded as the future of energy in Germany during the 1960s, was initially embraced with minimal concern for the potential risks of nuclear accidents. As Heinz Smital from Greenpeace recalls, the early optimism was partly driven by national interest in nuclear weapon technology rather than energy companies' initiatives.
Jochen Flasbarth, State Secretary in the Ministry of Development, reflects on that era, noting Germany's strong, almost naive, belief in technology. Germany, particularly the Ruhr region, grappled with smog-filled…
