MENU

Remote microgrids will surpass $8.4bn by 2020, forecasts Navigant Research

Remote microgrids will surpass $8.4bn by 2020, forecasts Navigant Research

Market news |
By eeNews Europe



Operating in isolation from the wider power grid, remote microgrids are multiplying thanks to a combination of factors that include high costs for existing energy services in many parts of the world and declining costs for solar photovoltaics and other renewable distributed energy generation technologies.  

“Remote microgrids, especially ones that operate on physical islands, are viewed by the market as low-hanging fruit,” said Peter Asmus, principal research analyst with Navigant Research.  “Since remote microgrids are the most lucrative of current microgrid opportunities, in terms of per-megawatt vendor revenues, we are witnessing an influx of firms, both large and small, trying to figure out the best business model to deploy. Not surprisingly, the largest number of remote microgrids is being deployed in the developing world, although activity is also increasing in Europe and North America.”

While remote power systems number in the thousands, many are still powered by diesel generation.  Others showcase smarter and much cleaner combustion technologies that are capable of reducing diesel consumption by as much as one-third, even without any renewable generation, according to the report.  When renewable distributed energy generation is added to the mix, these remote systems begin to look like the classic microgrids that have been the focus of funding from the U.S. Department of Energy and Department of Defense.

Visit Navigant Research at www.navigantresearch.com

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News

Share:

Linked Articles
10s