Distributed Generation Microgrids Will Reach Nearly $13 Billion in Annual Market Value by 2018, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- Whether tied to the larger utility grid or islanded from it, microgrids are becoming an increasingly common way for campuses, communities, and other large power users to harness the benefits of distributed power generation. Many of these systems are deployed by end-use customers who are not getting the quality of energy services they desire from their host distribution utilities. According to a recent report from Pike Research, a part of Navigant's Energy Practice, annual revenues from distributed generation microgrids will reach $12.7 billion in 2018.
"Microgrids represent a fundamental building block of the ultimate smart grid, designed to serve the needs of energy producers, consumers, and distribution utilities," says senior research analyst Peter Asmus. "Perhaps most importantly, microgrids are an important accelerator for various kinds of distributed power generation, particularly from renewable sources."
Some of the technologies that will enable the growth of microgrids in coming years, such as system controllers, are still immature, while others, such as solar photovoltaics, are already global markets in their own right. The foundation of any microgrid is distributed generation (such as solar PV or small wind power), but nearly as critical are smart, bi-directional islanding inverters that enable microgrids to operate in standalone mode, disconnected from the wider grid. Over the course of the next several years, the islanding function of inverters for renewable distributed energy generation, combined heat and power (CHP), fuel cells, and energy storage will become much more prevalent, according to the report.
The report, "Microgrid Enabling Technologies", provides a detailed analysis of the technologies necessary to create a microgrid. It also quantifies sales of the most vital technologies that will enable the microgrid market to grow, whether those systems are grid-tied or remote, and whether they utilize alternating current or direct current. The report also includes SWOT analyses of the major enabling technologies for microgrids, along with profiles of the key players in the emerging microgrid sector. Market forecasts for the major enabling technologies, segmented by world region, are provided through 2018. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Microgrid Enabling Technologies," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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