BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the global market for community resilience microgrids (CRMs), including global market forecasts for the incremental capacity and implementation revenue of community microgrids and both utility and third-party CRMs through 2024.
While virtually all microgrids share the goal of improving grid resilience, systems specifically designed to promote grid resilience within communities are backed by specific government programs that provide funding and regulatory support. This support is a major factor in promoting the spread of CRMs in the coming years. Click to tweet: According to a new report from Navigant Research, worldwide revenue from CRM implementation is expected to grow from $163 million annually in 2015 to $1.4 billion by 2024.
“CRMs are plowing new ground in terms of customer relationships to host distribution utilities,” says Peter Asmus, principal research analyst with Navigant Research. “They represent the epitome of community idealism when it comes to the concept of grid resilience, as well as potentially the ultimate threat to utilities.”
While CRMs tend to garner the widest public support of any microgrid segment, according to the report, they also face the highest regulatory barriers. Since they require significantly more buy-in from diverse and often unsophisticated stakeholders, their development cycle is typically longer. Furthermore, the ability to finance and finish CRMs on a fully commercial basis would appear to be a challenging path, the report finds.
The report, “Community Resilience Microgrids,” examines the global market for community microgrids and utility and third-party CRMs. The study provides an analysis of the policy and regulatory issues that either advance or retard the development of CRMs, some of the technologies necessary to create such distribution networks, and key players in this space. Global market forecasts for the incremental capacity and implementation revenue of community microgrids and both utility and third-party CRMs, broken out by segment and region, extend through 2024. 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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global professional 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 deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, “Community Resilience Microgrids,” 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.
