Driven by growing renewable energy demand in numerous regions, the market for micro-grid installations will grow rapidly between 2015 and 2020.
Analysts Frost & Sullivan expect the global market for micro-grids to accelerate rapidly from next year as a thirst for renewable energy – driven by solar PV – prompts greater demand for power in off-grid locations.
Much of this demand will be driven by the U.S. market, which has already established a clear lead in the engagement of micro-grids for remote and military applications. And while Europe will also be a catalyst for further adoption of micro-grid technology, it is the emerging economies in the Asia-Pacific region that harbor the largest potential for micro-grids due to growing energy demand, low grid connectivity and intermittent power outages.
"Increasing focus on renewable energy in the energy mix, and its integration, is lending momentum to the adoption of micro-grids on a global scale," said Suba Arunkumar, energy and environment industry manager for Frost & Sullivan.
"Uptake has been steady in various fields, including military, industrial, institutional and off-grid applications."
Markets & Trends, By: Ian Clover and Edgar Meza
Analysts Frost & Sullivan expect the global market for micro-grids to accelerate rapidly from next year as a thirst for renewable energy – driven by solar PV – prompts greater demand for power in off-grid locations.
Much of this demand will be driven by the U.S. market, which has already established a clear lead in the engagement of micro-grids for remote and military applications. And while Europe will also be a catalyst for further adoption of micro-grid technology, it is the emerging economies in the Asia-Pacific region that harbor the largest potential for micro-grids due to growing energy demand, low grid connectivity and intermittent power outages.
"Increasing focus on renewable energy in the energy mix, and its integration, is lending momentum to the adoption of micro-grids on a global scale," said Suba Arunkumar, energy and environment industry manager for Frost & Sullivan.
"Uptake has been steady in various fields, including military, industrial, institutional and off-grid applications."
Markets & Trends, By: Ian Clover and Edgar Meza