The Microgrid Market Forecast 2017-2027 Will See A Capital Expenditure (Capex) Of $9,645 Mn In 2017
08 August 2017
Visiongain’ has launched a new energy report The Microgrid Market Forecast 2017-2027: Forecasts by Application including Remote, Utility Distribution, Commercial and Industrial, Community, Institutional/Campus and Military AND National Markets with Extensive Details & Analysis of Contracts, Projects and Programmes PLUS Leading Companies in the Microgrid Market
Microgrid is one of the most advanced concepts in the power generation. A microgrid is a cluster of loads and distributed energy resources that can operate in both on-grid and off-grid mode. The technology acts as a promising source of electricity during emergencies, bad weather conditions and power outages.
The microgrid market is mainly driven by factors including rising demand for efficient energy usage, growing adoption of renewable energy and need for efficient grid infrastructure. The rapid growth in the population has led to increased congestion and stress on the existing grid leading to an unbalanced and inefficient supply of electricity among the consumers; the bulk of them affected by lack of electricity supply.
The deployment of microgrid technology will not only reduce the burden on existing utilities but will also help reduce greenhouse gases through the adoption of renewable resources. The technology can be considered as a building block towards the development of smart energy system with its compact design and high reliability during emergency conditions.
The visiongain report analyst commented “Microgrid market is expected to witness a high potential in remote regions and islands. Increasing measures by the government to facilitate efficient and reliable electrification benefits will boost the demand for microgrid globally. Favourable government regulations and policies towards microgrid deployment have enabled a large-scale adoption of microgrid technology across developing countries including Asia Pacific and Africa.”
Leading companies featured in the report who are developing Anaerobic Digestion (AD) facilities include ABB Ltd, General Electric, Hitachi Ltd, Schneider Electric, Siemens AG, Eaton Corporation, NRG Energy, Exelon Corporation, Ameresco Caterpillar & Honeywell International Inc.
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