Global Remote Power System Microgrid Market Forecasts 2018-2023 - ResearchAndMarkets.com

DUBLIN--()--The "Global Remote Power System Microgrid Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

High transmission losses, aging transmission infrastructure, lack of transmission & distribution network in rural areas, particularly in developing countries, and declining cost of the remote power systems are expected to drive the remote power system microgrid market during the forecast period.

Owing to technological advancements and manufacturing of equipment on a larger scale, the renewable power generation cost has declined over the years. Since 2010, the cost of onshore wind and solar photovoltaic (PV) electricity has fallen by 23% and 73%, respectively. The renewable power plants are suitable for providing power to remote locations, and hence, can be used as remote power generation systems.

In developing countries, a significant percentage of rural population does not have access to the national power grid, thus, the potential for renewable remote power generation systems in such regions. With declining cost, the demand for renewable remote power generation system is expected to increase, which, in turn, is expected to drive the market during the forecast period.

Key Developments in the Market

  • September 2017: The Southern Alberta Institute of Technology was awarded a grant of USD 385,500 for research on the benefits of micro-CHP by Government of Canada. The research will be aimed at evaluation of the benefits of micro-CHP technology to reduce green gas emission, as well as ways to save money by the Albertans regarding heating and powering their homes. The research is expected to give insights into economic feasibility of micro-CHP in Canada.

Key Players

  • General Electric
  • Schneider Electric
  • Siemens Industry Inc.
  • S&C Electric Company
  • Honeywell International Inc.
  • Johnson Controls
  • Bloom Energy
  • S&C Electric Company
  • Arista Power
  • ABB
  • Burns & McDonnell

For more information about this report visit https://www.researchandmarkets.com/research/c6q9kb/global_remote?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Electricity

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Electricity