Microgrids revenue will reach $17.3 billion by 2017

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Microgrids revenue will reach $17.3 billion by 2017


By Greentech Lead Team: Global microgrid capacity and
revenue will reach 4.7 gigawatts and $17.3 billion, respectively, by 2017.

Lower
demand on transmission infrastructure and the ability to rely on more localized
sources of power generation are stimulating increased demand for microgrids
that will grow with a compound annual growth rate (CAGR) of more than 22
percent during the time frame.

“Several
new players have recently entered the microgrid market, signaling that a new
race is on to take advantage of the significant opportunity that microgrids
represent on a worldwide basis,” said Peter Asmus senior analyst at Pike
Research.

The
research ranked ABB, the Swiss industrial giant as the leading player in
transmission and distribution infrastructure, and Boeing with Siemens in a strategic
alliance to serve the U.S. military, as well as San Diego Gas & Electric
one of the leading utilities in this space. Green Energy Corporation is
addressing the interoperability of various controls and communications
platforms being deployed for microgrids.

Pike Research’s report
says Microgrids still face significant barriers to wide scale adoption. As of
2012, not a single national government has developed an integrated or
comprehensive policy creating a viable, vibrant market for customer-driven
microgrids.

North
America is the leader in terms of planned capacity. The developing world
remains the most promising long-term market. The remote/off-grid segment has
emerged as the clear leader in terms of revenue and is arguably the most mature
in terms of commercial status.

Pike Research recently reported that
the global remote microgrid market will expand from 349 megawatts (MW) of
generation capacity in 2011 to over 1.1 gigawatts (GW) by 2017.

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