Global Micro grid Market Analysis and Opportunity
Assessment : 2014 - 2020 : Future Market Insights
Global Microgrid Market
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.
Global Microgrid Market
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...