Global Microgrids Growth Opportunities

(MENAFN- GlobeNewsWire - Nasdaq) New York, May 26, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Global Microgrids Growth Opportunities" -
With a largely secure grid infrastructure, the European Union has limited microgrid developments, such as physical island markets and rural markets in Eastern European countries with grid reliability issues.Decarbonization of microgrids and lower solar and storage costs emphasize hybridizing and integrating multiple distributed generation sources (conventional diesel and gas), renewables, H2-based generation sources, and energy storage to optimize microgrid efficiency (a transition from fossil-based power generation). Demand for modular containerized solutions with photovoltaic inverters, batteries, power converters, and protection and control systems will also grow.
These solutions are future-proof for speedy installation and commissioning, rapid access to power in rural and remote locations, access to power using existing generators/weak grids, and expansion of grid projects.
Multiple microgrids will be part of the wider smart grid, increasing visibility within regional/national energy systems and resulting in virtual microgrids using peer-to-peer (P2P) energy trading.Capital investments, complex operations, and associated risks are leading to the growing preference for OPEX-based business models.
Vendors in developed and developing regions increasingly prefer Microgrid-as-a-Service (MaaS) business models.
Outcome-as-a-Service offerings, which entail operation and maintenance (O&M), financing and energy sustainability, and optimization, will also be critical to future success.
Business models will vary depending on the application and geographic location, but a hybrid business model will represent the primary growth model.
The market comprises many active participants, with more companies planning to enter this space.
The leading companies offer turnkey solutions and as-a-service models.This report provides insights into the global microgrids market developments.
The study includes revenue forecasts at a global and regional level (2023–2030), market drivers and restraints, technology trends, application market forecasts, competitive analysis, and identification of growth opportunities.
Author: Neha Tatikota
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