A new report from Navigant Research shows the modular microgrid market is expected to experience a compound annual growth rate of 28% of the next decade.
The report examines the global market for modular microgrids, providing forecasts for total market potential across all major microgrid segments, including institutional, comm Israel Telegram Number Data ercial and industrial (C&I), community, remote, utility distribution, and tactical modular military systems.
Modular microgrids meet the basic definitions of a microgrid, with the distinguishing feature being the ability to island and operate autonomously. These microgrids also feature pre-configured key hardware components, the ability to customize operations through software (often in the cloud), and streamlined deployment procedures that reduce the need for onsite engineering during installation.
Although they are a minority portion of the market if measured by peak capacity, modular microgrids have the potential to make up the majority of systems deployed over the next decade,” said Peter Asmus, research director with Navigant Research. “Taking a modular approach is expected to help radically scale up microgrid deployments by commoditizing standard microgrid offerings that can be pieced together, thereby shrinking design and deployment costs.
According to the report, modular microgrids are particularly appealing in the remote segment, where difficult logistics and limited available expertise can create barriers to implementation. Around the world, modular technology coupled with energy as a service (EaaS) business models is expected to continue propelling future growth.
The report, “Modular Microgrids,” includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, and examines a 10-year forecast period through 2029.