In the Financial Times, Navigant Research provides insights into the resilience and global spread of microgrids
The share of global energy produced by microgrids is rapidly growing. In a recent article, the Financial Times described the resilient quality of these smaller, independent grids that can enable businesses to function normally during outages caused by extreme weather.
Microgrid expert Peter Asmus, research director at Navigant Research, informed the article with his latest insights. According to Navigant Research, the ratio of new power supplied by microgrids to new centralized capacity is expected to be more than three to one by 2026. The global market for hardware, system controls, and integration with existing infrastructure will then be worth $26 billion.
“Recent growth in microgrids in the US is tied to extreme weather events and the corresponding power outages, especially along the East Coast, but most recently in Texas, Florida, and Puerto Rico,” explained Asmus.
The focus on grid resilience translates into a focus on interoperability, and the importance of being able to connect a microgrid to a large centralized power network.
“This means greater emphasis on software and how you provide services to the grid as well as the financial innovation necessary to value the contribution,” Asmus said.