Current interest in these microgrids appears to be greatest in the United States, Navigant Research report finds
A recent report from Navigant Research examines the global market for community resilience microgrids (CRMs), including global market forecasts for the incremental capacity and implementation revenue of community microgrids and both utility and third-party CRMs through 2024.
During the last 15 years, electricity outages have cost the global economy billions of dollars, triggering efforts to make the energy grid more resilient and to incorporate community-critical assets into long-range energy planning. Today’s CRM market is mostly stimulated by specific government programs that provide funding and regulatory support as this microgrid segment plows new ground. According to a recent report from Navigant Research, revenue from CRM implementations is expected to total nearly $7 billion from 2015 to 2024.
“Although one of the smallest overall segments in terms of capacity, CRM revenue growth is projected to be substantial,” says Peter Asmus, principal research analyst with Navigant Research. “It is anticipated that CRMs will grow in complexity over time and shift from an early emphasis on aggregating and optimizing existing legacy fossil assets to a more sustainable blend of resources.”
Currently, CRM projects are concentrated in just a few countries, with the United States displaying the greatest diversity in terms of technology, business models, and public policy experimentation. Meanwhile, countries like China and Japan are also engaged in the space, rolling out standardized microgrids developed by nationalized utilities (China) or pioneering new business models based on distributed energy resources that are driven in part by events like the Fukushima Daiichi nuclear accident in Japan.
The report, Community Resilience Microgrids, examines the global market for community microgrids and utility and third-party CRMs. The study provides an analysis of the policy and regulatory issues that either advance or retard the development of CRMs, some of the technologies necessary to create such distribution networks, and key players in this space. Global market forecasts for the incremental capacity and implementation revenue of community microgrids and both utility and third-party CRMs, broken out by segment and region, extend through 2024. An Executive Summary of the report is available for free download on the Navigant Research website.
Source: BusinessWire