In an article for Bloomberg, Navigant Research comments on the growing market for resilient power supplies
Severe weather events, particularly this summer’s hurricanes, are drawing attention to the need for more resilient power supplies, according to a recent Bloomberg article.
For instance, in Puerto Rico, where the utility grid was knocked out by Hurricane Maria, market players such as Tesla, Sonnen GmbH, and Sunnova have shipped microgrid equipment to the island to help provide power as storm recovery continues.
Alex Eller, research analyst at Navigant Research, who weighed in on the article, said that this trend is gathering steam, and over the next decade, global investment in battery-backed local energy systems is expected to exceed $22 billion.
“The storms helped raise awareness of what’s available,” Eller said in an interview. “For the next couple years, remote microgrids will make up about half of global installations.”
Eller added that about three-fourths of that investment will flow to North America and Asia Pacific as developers find ways to use microgrids more efficiently, including by providing energy management services to utilities. Declining battery costs and new financing methods, he said, will also boost deployment in coastal areas exposed to flooding and frequent storms.