With the right set of controls technologies, microgrids not only offer value streams to site hosts and other microgrid customers but provide value upstream to the larger grid
BOULDER, Colo.--(BUSINESS WIRE)--#Biomass--A new report from Guidehouse Insights examines distributed energy resources (DER) assets as the driving force behind microgrid deployments, providing capacity and revenue forecasts for nine technologies from 2020 through 2029.
As one of many options to aggregate and optimize DER, the microgrid platform allows for new levels of resilience and reliability, which is particularly valuable in light of emerging threats to global power grids, such as extreme weather events, earthquakes, wildfires, and terrorist threats. At the same time, microgrids can help organize mixed asset fleets of DER at the distribution network level. Click to tweet: According to a new report from @WeAreGHInsights, total DER in microgrids revenue begins at $6.3 billion in 2020, reaching $27.7 billion annually by 2029, at a compound annual growth rate (CAGR) of 18%.
“With the right set of controls technologies, the microgrid platform can not only offer value streams to site hosts and other microgrid customers, but it also provides value upstream to the larger grid,” says Peter Asmus, research director with Guidehouse Insights. “It is in this latter function that microgrids overlap with other networking platforms such as virtual power plants (VPPs) and DER management systems.”
According to the report, the availability of government support for microgrids is affected by the design of incentives and subsidies for the gamut of available DER technologies that could be integrated into a microgrid. Support for DER assets will increase the viability of microgrids in any particular region. However, some forms of support can counterintuitively limit future microgrid applications, and in some cases, a decline in subsidy support, particularly for renewable generation technologies, can create incentives for microgrids.
The report, DER Deployments for Microgrids, focuses on how each of the following nine DER assets are being deployed across each region of the world: biomass, diesel generation sets (gensets), energy storage, fuel cells, hydropower, microturbines, natural gas gensets, solar PV, and wind. This report provides capacity and revenue forecasts for these technologies from 2020 through 2029. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, DER Deployments for Microgrids, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.