Storms Spur Microgrids
- Jul 17, 2019 7:11 pm GMT
Microgrids still account for a micro level of investment in electricity infrastructure worldwide; at the same time, they have become one of the fastest growing segments of the industry. A number of forces are driving this spurt, including concern about the vulnerability of the grid to cyber attack, but the main force behind the impressive increase in the number of microgrids is the aftermath of increasingly common extreme weather events. And this is a worldwide trend.
The industry publication Microgrid Knowledge reported that global annual revenue from microgrids rose 29% between 2015 and 2016, and Navigant Research predicts that the global microgrid market will reach $30.9 billion in annual revenue by 2027; that compares to an estimated value of $3.76 billion in 2016. While precise figures are difficult to come by and vary among industry and scholarly sources, virtually every estimate assumes rapid growth. Navigant’s Microgrid Deployment Tracker, which is updated semiannually, is a typical example. At the end of the fourth quarter of 2018, Navigant identified 2,258 projects, including 241 new entries, with a combined total of 19,575 MW of planned and installed power capacity. At the end of the second quarter of 2019, just six months later, Navigant identified 4,475 projects, representing 26,769 MW of planned and installed power capacity; these include 575 new entries that added 2,915.3 MW. That’s a growth rate of more than one hundred percent over six months. While North America led the world in terms of total microgrid capacity at the end of 2018, Asia Pacific emerged as the global leader by the end of the second quarter of 2019.
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