Market Data: Remote Microgrids and Nanogrids

Market Data: Remote Microgrids and Nanogrids

Market Data: Remote Microgrids and Nanogrids

Report
Format: PDF-Excel
Published year: 2015
Publisher: Navigant Research
Language: English
Pages: 42

Summary

The market for remote power provision in geographic regions not served by a traditional centralized electricity grid is substantial. There is little doubt that this off-grid portion of the world?s energy infrastructure spend is a leading opportunity for both private and public sector actors. The key to unlocking this value with new revenue streams lies in addressing a number of unique challenges, including existing subsidies for the status quo, logistical construction challenges, and lingering business practices that border on corruption at worst and inefficiency at best. The synergy of microgrids and nanogrids in an off-grid environment mirrors the dynamics in a grid-tied environment in developed industrial economies: these systems embrace a model of the future centered on distributed energy resources (DER). While competing with each other in certain niche applications, DER generally rise together as commodity costs for key components (solar PV, wind turbines, and advanced batteries) come down while new business models spring up to network and optimize these flexible resources in innovative ways. According to Navigant Research, the cumulative global value of assets and services attached to the development of remote power systems is expected to grow from $10.9 billion in 2015 to $196.5 billion in 2024. This Navigant Research report examines the global market potential for remote microgrids and nanogrids. The study provides an analysis of remote power systems and discusses related energy access initiatives and DER trends. Global market forecasts for capacity and implementation revenue, broken out by segment and region, extend through 2024. The report examines the key market segments related to remote power systems, including commodity extraction, physical island, village electrification, military, commercial, and residential remote microgrids and nanogrids. Forecasts are also provided for the top remote microgrid market players and country markets.
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