Natural Gas to Dominate United States Microgrid Market until 2025
Growing demand for reliable,
cost effective and secure power supply to drive the growth of United States
microgrid market
According to
TechSci Research report, “United States Microgrid Market By Type (Grid Connected, Remote/Island, Hybrid), By
Consumption Pattern (Urban & Metropolitan, Semi-urban, and Rural/Island), By
Power Source (Natural Gas, Solar PV, Diesel, Fuel Cell), By End User Industry
(Industrial, Educational Institutes, Healthcare, Utilities, Military, Others), By Region, Forecast &
Opportunities, 2025”, the United States microgrid market
is expected to grow at a formidable rate during the forecast period on account
of the low transmission losses in the microgrids. Microgrids generate power
locally and reduce dependence on long distance transmission lines and thus cut
transmission losses. Furthermore, convergence of IoT in enhancing microgrid
market connectivity and increasing government initiatives to reduce carbon
footprint are propelling the market in the country. However, high cost of
installation and maintenance is expected to hamper the growth of market during
forecast period. Additionally, lack of knowledge about procedures to secure
license right for connecting multisite microgrids, interoperability and
compatibility issue due to large numbers of components, associated operation,
technological and security risks, among others are further expected to restrain
the growth of market during forecast period.
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The United States microgrid market
is segmented based on type, consumption pattern, power source, end user
industry, company and region. Based on type, market can be categorized into grid
connected, remote/island and hybrid. The remote/island segment is expected to
witness significant growth during forecast period due to the environmental
benefits, decline in the prices of wind power sources & solar photovoltaic
cells and drop in power generation cost in comparison to the conventional power
generation sources. Furthermore, remote/island microgrids are commercially
being considered as an appropriate energy solution for remote and rural
locations. Additionally, industry giants such as the General Electric Company,
ABB Ltd., among others are eyeing the remote/island microgrid segment for
investments. Based on power source, the market can be categorized into natural
gas, solar PV, diesel and fuel cell. The natural gas segment is expected to
dominate the market over the next few years since it is eco-friendly and produces
less carbon emissions as compared to oil or coal-fired energy generation.
General Electric Company,
Honeywell International Inc., S&C Electric Company, Exelon Corporation,
Homer Energy LLC (AWS Truepower, LLC), Power Analytics Corp (Causam Energy,
Inc.), Eaton Corporation Inc, ABB Ltd., Siemens, Schneider Electric IT USA, Inc.
and others are some of the leading players operating in United States microgrid market.
For instance, in January 2018, Eaton launched a series of reclosers to help
utilities support a smarter, more reliable grid. Eaton’s Cooper Power series
NOVA NX-T reclosers provide accuracy and distribution system reliability
critical to smart grid applications. The new solution is designed to enhance
performance and reliability while simplifying equipment configuration,
installations, operation and control.
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“United States microgrid
market is expected to witness significant growth during the forecast period, since
most of the cities are considering microgrids in order to ensure continuous
power supply. Additionally, the US military has an initiative named Smart Power
Infrastructure Demonstration for Energy Reliability and Security (SPIDERS),
with the mission of providing power to critical facilities in the event of a
loss or attack. Also, various government moves such as “Clean Power Plan” of
United States and “US grid 2030: National Vision for Electricity” have led to an
increase in the penetration of renewable energy generation technologies into
the electricity generation systems resulting in an increase in the demand for
microgrids in the country. Furthermore, various utilities are also perceiving
the role of microgrids as an infrastructural requirement, thereby expected to propel the
market during the next five years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“United States Microgrid Market By Type (Grid Connected, Remote/Island, Hybrid), By
Consumption Pattern (Urban & Metropolitan, Semi-urban, and Rural/Island), By
Power Source (Natural Gas, Solar PV, Diesel, Fuel Cell), By End User Industry
(Industrial, Educational Institutes, Healthcare, Utilities, Military, Others),
By Region, Forecast &
Opportunities, 2025” has evaluated
the future growth potential of United States microgrid market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in United States microgrid market.
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