Microgrid Market

Global Microgrid
Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2014-2020
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Report Description
A microgrid is a modern small-scale electricity system used to generate, distribute and
regulate the flow of electricalpower. It includes distributed energy resources and multiple
loads which enable it to interconnect with other electrical grids as well as operate in a
parallelpower generation environment. Microgrids can be used to generate power from
both renewable and non-renewable energy sources. There are different types of
microgrids. The first one is true microgrid or customer microgrid, which is self-governed,
has a regulatory structure and is compatible with the current technology. The second
type is utility or community microgrid or milligrid which involves a division of regulated
grid.The thirdvariety is virtual microgrid orvgrid.It covers multiple sites’distributed energy
resources (DER) and are coordinated in a manner such that they can be presented as a
single unit to the grid.
Around the world, governmentsare taking initiatives in setting up solar, biopower and
wind energy farms, and increasingly concentrating on renewable energy resource based
microgrids.Increased requirement ofenhanced technology for power generation and
distribution, growing industrialization, government initiatives towards green energy, and
a demand for secure andconsistent power supply are some of the factors driving the
growth of microgrid market.
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Report Description
However,monetaryobstructions, complication in land acquisition and registration of land
for solar PV installation in rural areas, high primary cost of installation, huge investment
required for integrating existing systems with microgrid, technological barriersetc. are
some of the aspectsholding backthe microgridmarket in some regions.
The microgridmarket can be segmentedinto verticals, technology andtype. By
verticals,the market can be categorized into public sector, healthcare, telecom and
manufacturing. On the basis oftechnology,the market can be divided into various
categories such as by power and component technology. Bytype,microgridmarket is
segmented intooff-grid, connected grid and hybrid grid.
The microgrid market is expected to be a multi-billion-dollar market and to grow at a
significant rate during the forecast period, from 2014 to 2020. At present, the market is
led by North America owing to growing industrialization and electrification. However, it is
expected to witness ahuge potential in emerging economies of Asia-Pacific regions, such
as India, China and Australia.
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Introduction of advanced solutions, collaboration with other organizations, joint
ventures/partnerships,and acquisitions&mergers are a few strategies followed by key
players operating in microgrid market, in order to outperform their competitors. For
example, Toshiba Corporation acquired Consert Inc. in 2013, inorderto improve their
distribution services and widen their global presence and customer base.Additionally, in
November 2014, HOMER Energy LLC introduced HOMER Pro software, anupgraded
version of their HOMER software,to set a global standard for microgrid designand
analysis at initial stage.Further, its analysis tool mainly focuses on hybrid microgrids that
are combined with multiple storage and renewable energy resources.
Some of the key players in this market include Lockheed Martin Corporation, ZBB Energy
Corporation, ABB Ltd., GE Digital Energy, Power Analytics Corporation, Consert Inc.,
Viridity Energy, Inc., S&C Electric Company, Chevron Energy, Toshiba Corporation,HOMER
Energy LLC, Honeywell International Inc.,Microgrid Energy LLC and Siemens among
others.
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