BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the market for microgrid enabling technologies (MET), providing global forecasts for capacity and revenue, segmented by technology and region, through 2026.
As one of many options to aggregate and optimize growing penetrations of distributed energy resources (DER), the microgrid platform allows for new levels of resilience and reliability, and can help organize mixed asset fleets of DER at the distribution network level. With the right set of control technologies, this platform can not only offer value streams to site hosts, but also provide value upstream to the larger grid. Click to tweet: According to a new report from @NavigantRSRCH, global cumulative MET implementation spending is expected to reach nearly $112 billion by 2026.
“Microgrids represent a key component of an emerging Energy Cloud focused on resilience and renewable energy integration,” says Peter Asmus, principal research analyst with Navigant Research. “Biomass, combined heat and power (CHP), diesel, fuel cells, hydroelectric, solar PV, and wind represent the lion’s share of potential revenue for microgrid implementation spending, and serve as the backbone of the microgrid value proposition: maximizing the value of onsite power generation.”
From a global perspective, CHP was the leading DER choice for microgrids in terms of capacity in 2017, with 655 MW deployed, followed by solar PV (392 MW), and then diesel (385 MW). By 2026, however, the MET landscape is expected to shift, with solar PV jumping to a commanding lead with 3,786 MW annually, followed by energy storage with 3,292 MW, according to the report.
The report, Microgrid Enabling Technologies Market Overview, analyzes the global market for MET, with a focus on eight DER: biomass, CHP, diesel, energy storage, fuel cells, hydroelectric, solar PV, and wind. The study provides an analysis of the market issues, including case studies, government incentives, and emerging standards, associated with MET. Global market forecasts for capacity and revenue, segmented by technology and region, extend through 2026. The report also examines the key technologies and hardware related to MET, 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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Microgrid Enabling Technologies Market Overview, 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.