Global electrification goals are driving microgrid market
by Smart Energy International [Official Publication of Clarion Events Power and Energy Series]

Renewable Energy World    Translate This Article
17 October 2018

On 17 October 2018 Renewable Energy World reported: According to the Microgrid Market Growth Potential -- Industry Size Outlook Report 2024, the microgrid market is expected to reach $19 billion by 2024, nearly five times the original valuation of this business space in 2016. The market growth will be powered by the quest to deliver uninterrupted electricity to remote locations across the globe, where in some cases, electricity is a luxury. Global Good News service views this news as a sign of rising positivity in the fields of science and business, documenting the growth of life-supporting, evolutionary trends.

Growth will be further stimulated by market innovation delivering a range of highly advanced networks endowed with superior connectivity and storage that would help electrify rural areas.

This will, in turn, encourage microgrid market players to create unique and reliable products that would be easy to install and operate.

... Robben Island, the World Heritage Site in Cape Town, has recently witnessed the launch of an R25 million solar energy, lithium-ion battery storage microgrid. The region had been dependent on diesel for power generation, however, now, with the launch of this microgrid, it is expected that Robben Island would prove to be a viable exemplar to stimulate microgrid market demand.

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