TechNavio today published its report Global Microgrid Market 2010“2014. The report discusses the significant trends impacting the growth of this market.
TechNavio™s report highlights that poor power quality is scattered throughout various parts of the world, such as in the US, Asia, and in many European countries. Microgrids ensure better power quality supply by enabling connection of microgrids to the macrogrid, thus reducing the grid imbalances and reducing power supply intermittence problems. Power demand pattern is normally predicted by the power utilities on a daily basis. Inaccuracy in the prediction or unexpected increase in demand for power per day will lead to grid imbalances.
Commenting on the report, an analyst from TechNavio™s Clean Tech team said, Funds and incentives are being provided by governments of various regions, in order to encourage investment in the Global Microgrid market. For instance, the US Department of Defense has allocated US$5 million to start a microgrid pilot program. Similarly, Eaton Corp. has received US$2.4 million as a part of federal stimulus grant to develop microgrid systems to support military establishment. These incentives play an integral role in driving the growth of this market.
Key findings from the report:
¢ Acceleration of Distributed Energy Resources and Rise in Power Demand
¢ Absence of Monitoring Standards
¢ Intensification of Distributed Energy Resources
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/reports/Global%20Microgrid%20Market%202010-2014
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Government Incentives Encouraging Implementation of Micro Grids
