Press release
North America microgrid market Comrhensive Growth Analysis Of GE, ABB, Schneider Electric, Alstom, Siemens, Honeywell, Caterpillar Inc, Tesla
The deployment of microgrids in particular, is predicted to grow rapidly on account of efficient management of grid turbulence and enhanced recovery & response time to load variations. In addition to this, incorporation of smart grid technology and decreased transmission losses would also stimulate the market growth.
Eminent participants in the North America microgrid market include GE, ABB, Schneider Electric, Alstom, Siemens, Honeywell, Caterpillar Inc, Tesla, Virdity Energy Solutions, EnSync Inc, Toshiba, Hitachi, Advanced Microgrid Solutions, Lockheed Martin, Exelon and Power Analytics Corporation.
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In a recent turn of events, Duke Energy has reportedly proposed a microgrid for the western North Carolina town of Hot Springs as part of its bigger plan that encompasses a $500 Mn investment in energy storage in the next 15 years. Reportedly, the new solar-storage microgrid will strengthen electrical reliability for the mountainous region served by a 22.86-kV feeder line spanning 10-mile.
Considering the high occurrence of natural disasters in North America, such as the latest earthquake in Mexico City, which destroyed buildings, left people yearning for medical attention, and caused power outages, it is rather prudent to state that use of microgrids can support uninterrupted power supply in critical times. Microgrids can ensure productivity during major power disruptions, and decrease overall energy expenditure by leveraging & maximizing renewable energy resources. For instance, when a superstorm occurs, a microgrid can keep critical facilities running even during a blackout. Thus, the promising advantages of microgrids will upsurge the microgrid market share across North America.
Natural gas microgrid market will grow on account of stringent government measures pertaining to the adoption of lower emission fuel as a replacement for conventional fuel sources. Ongoing investment toward exploration of unconventional fuel reserves owing to escalating gas demand will enhance the industry outlook. Amren Corporation in 2017, developed an advanced microgrid which utilizes, solar, natural gas and wind energy as a source along with an integrated battery storage and automation system.
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Canada microgrid market is predicted to reach deployment of over 400 MW capacity by 2024. Growing electricity demand across remote and off grid areas along with upsurge in investments toward the adoption of clean energy technology will complement the business growth. Furthermore, ongoing development of distributed energy sources to minimize the dependency on conventional grid will enhance the industry outlook. In 2016 Canada government made an investment of USD 2.4 billion for developing wind and solar energy sources.
Flow batteries accounted for over 5% of North America microgrid market in 2017. Ongoing investment pertaining to the integration of sustainable grid coupled with innovations toward the development of cost-effective and efficient storage technologies will propel the industry growth. key features including long life cycle and higher efficiency will further encourage the product adoption over available substitutes.
Complete report for 2017-2024 on North America Microgrid market is now available at https://www.marketstudyreport.com/reports/north-america-microgrid-market
Related Report:
United States Energy Storage battery for Microgrid Market Report 2017
United States Energy Storage battery for Microgrid Market research report is added by Market Study report by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.
https://www.marketstudyreport.com/reports/united-states-energy-storage-battery-for-microgrid-market-report-2017/?utm_source=RR&utm_medium=DC
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