Press release
Global Microgrid Market Boom in near future
Microgrid
A microgrid is a modern small-scale electricity system used to generate, distribute and regulate the flow of electrical power. It includes distributed energy resources and multiple loads which enable it to interconnect with other electrical grids as well as operate in a parallel power generation environment. Microgrids can be used to generate power from both renewable and non-renewable energy sources. There are different types of microgrids. The first one is true microgrid or customer microgrid, which is self-governed, has a regulatory structure and is compatible with the current technology. The second type is utility or community microgrid or milligrid which involves a division of regulated grid.The third variety is virtual microgrid orvgrid. It covers multiple sites’ distributed energy resources (DER) and are coordinated in a manner such that they can be presented as a single unit to the grid.
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Around the world, governments are taking initiatives in setting up solar, biopower and wind energy farms, and increasingly concentrating on renewable energy resource based microgrids. Increased requirement of enhanced technology for power generation and distribution, growing industrialization, government initiatives towards green energy, and a demand for secure and consistent power supply are some of the factors driving the growth of microgrid market.
However, monetary obstructions, complication in land acquisition and registration of land for solar PV installation in rural areas, high primary cost of installation, huge investment required for integrating existing systems with microgrid, technological barriers etc. are some of the aspects holding back the microgrid market in some regions.
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The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, technology and vertical. Report covers exhaustive analysis on
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• A neutral perspective towards market performance
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