A microgrid is a small-scale
power supply network designed to provide power for a relatively small group of
end-users. It consists of interconnected loads and distributed energy resources
within clearly defined electrical boundaries that act as a single controllable
entity with respect to the main grid. Moreover, microgrids can function when
connected to the main grid as well as when they are not connected to the main
grid and act as an electrical island.
Increasing demand for
reliable and secured power supply, government initiatives to reduce carbon
footprint, widespread industrialization and population growth fueling demand
for energy storage systems, convergence of IoT in enhancing microgrid
connectivity, and benefits of clean and reasonable energy, drive the market.
Utilities, across the globe consider microgrids a building block for a smart
grid and focus on microgrid R&D as a key focus area.
Industry Highlights
A microgrid refers to a grid that can manage
distributed energy resources and loads, which can be operated in a controlled
and coordinated way. The microgrid can be operated while connected with a main
grid and can also operate in off-grid mode. These grids are generally located
near the power consumption site. These grids are also being equipped with
energy storage systems, as batteries become more cost competitive. The entire
system of microgrid is being controlled by microgrid controller incorporating
demand response so that the demand can be matched to available supply in the
safest and most optimized manner.
Segmentation
Market Research Future
report offers a wide segmental analysis of the microgrid market on the basis of
type, component, power source and end-user.
Based on type, the microgrid
market is segmented into off-grid and grid connected. Of these, the off-grid segment
will have the largest share in the market over the estimated years owing to
heavy decline in the cost of wind power sources and solar PV.
Based on component, the
microgrid market is segmented into services, software and hardware. Of these,
software will domineer the market over the estimated years owing to increasing
adoption of software in utilities, municipalities, commercial and industrial
sites, and university campuses.
Based on power source, the
microgrid market is segmented into fuel cell, diesel, solar PV and natural gas.
Of these, natural gas will lead the market over the estimated years.
Based on end-use, the
microgrid market is segmented into healthcare and industrial. Of these,
industrial will have a major share in the market over the estimated years.
North America is
estimated to be the fastest growing market for microgrid.
Region wise, North America
held the largest market share of the global microgrid market in 2017. It is
estimated that North America would be the largest market during the forecast
period. The global planned and completed microgrid capacity stands at capacity
of 3.8 GW, of which more than 2.5 GW of microgrid capacity is in North
America.
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