(PRWEB) February 21, 2013
To provide tailored, efficient, and reliable energy services to the end users, microgrid employs and integrates a wide range of distributed energy technologies such as generation, storage and advanced controls, metering and communications into a controlled system that manages energy generation, transmission, distribution, and usage on a small scale as compared to the conventional macrogrid.
Global installed capacity of microgrid has seen a staggering growth since 2011 and is forecast to grow at a CAGR of over 17% from 2012- 2022 to attain a total installed capacity of over 15GW by 2022. In terms of market value for the vendors the market presents a potential of over $5billion and is likely to reach up-to $27 billion by 2022 growing at a CAGR of over 17% from 2012-2022.
Campus/Institutional microgrid is the largest microgrid by application and is forecast to grow at a CAGR of 18.83% from 2012-2022. Military and defense based microgrid and commercial microgrid is forecast to have almost same installed capacity by 2022. Off-grid microgrid continues growing at the highest CAGR for next 5-6 years, while hybrid microgrid market is expected to grow at the highest CAGR during 2012-2022.
This shift in growth is expected to happen once utility begin ramping up their microgrid facilities. Handfuls of utilities have already begun pilot projects including American Electric Power (AEP), Sacramento Municipal Utility District (SMUD), BC Hydro, and San Diego Gas & Electric (SDG&E). RoI on microgrid varies across geographies and also depends on power generation sources.
A fully developed microgrid with demand response management, on-site generation and storage, advanced controls and grid independence capabilities requires a longer payback period.
The report analyzes the global microgrid market and presents detailed insights of the market by technology, by characteristics, by application, and by geography. Besides, detailed discussion on the drivers, restraints, and opportunities of the market is also presented.
The report also gives detailed profiles of various companies currently active or just venturing into the microgrid market. All the other details of the key players in the entire value chain such as key product launches, technologies, industry partners, financials, and growth strategies are discussed in the extensive company profiles section. In addition to the company profiles, a competitive landscape of the current market is analyzed.
Key players featured in the publication include Abb Limited, Alstom Sa, Bloom Energy Corporation, Capstone Turbine Corporation, Chevron Energy, Consolidated Edison, Echelon Corporation, Ge Energy, Lockheed Martin Corporation, Mera Gao Power, Microgrid Energy Llc, Pareto Energy, Pi Encorp Llc, Power Analytics Corporation, San Diego Gas & Electric Company, Siemens Ag, Spirae Inc, Vestas Wind Systems A/S, Viridity Energy, and Zbb Energy Corporation.
For more information please http://www.researchandmarkets.com/research/l9fq5b/microgrid_market
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