BOULDER, Colo.--(BUSINESS WIRE)--At its essence, a nanogrid is simply a small microgrid, typically serving a single building or a single load. Nanogrids, however, have the ability to fill increasingly important niches within the larger power sector, serving as modular building blocks for energy services that support applications ranging from emergency power for commercial buildings to the provision of basic electricity services for people living in extreme poverty. Click to tweet: According to a new report from Navigant Research, worldwide vendor revenue from nanogrids will grow from $37.8 billion annually in 2014 to $59.5 billion in 2023.
“Though smaller in size than microgrids, nanogrids represent a larger market opportunity because they are, generally speaking, less challenging to the status quo and less subject to the technological challenges facing larger distribution networks that assimilate diverse distributed energy resources,” says Peter Asmus, principal research analyst with Navigant Research. “While North America is the leading region for microgrids, the largest and fastest growing nanogrid markets today are remote systems operating in the developing countries of Asia Pacific, the Middle East, and Africa.”
Perhaps the most innovative and radical interpretation of nanogrids, according to the report, are grid-tied systems that incorporate electric vehicles (EVs), in order to provide emergency energy services directly to buildings or to allow building owners to reduce utility peak demand charges. Just as EVs can provide ancillary services to both the larger utility grid and microgrids, they have perhaps an even greater potential to serve as storage or electrical supply to individual buildings.
The report, “Nanogrids”, analyzes the emerging global market for nanogrids, with special emphasis on contrasting nanogrids with microgrids. It provides an analysis of the market issues, including business cases and implementation challenges, associated with nanogrids. Global market forecasts for capacity and revenue, broken out by subsegment and region, extend through 2023. The report also examines the key technologies related to nanogrids, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Nanogrids,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
