A report from Navigant Research examines the status and potential future growth of microgrid segments and business models, providing global market forecasts for capacity and implementation spending, broken out by segment and region, through 2027.
Over the last decade, Navigant Research has tracked the global microgrid market as the number of vendors offering products and services increased. Navigant Research was the first to size this market opportunity in 2009 and has continually refined its modeling approach as better data becomes available and microgrids grow in complexity. Click to tweet: According to the report, the global market for microgrids is expected to reach $30.9 Billion in 2027.
“The greatest microgrid deployment growth is expected in the commercial and industrial segment due to declining costs of key microgrid enabling technologies as well as the emergence of new business models,” says Peter Asmus, research director with Navigant.
“While North America has been the historical market leader regionally, the Asia Pacific maintains and then increases its leadership position throughout the 10-year forecast horizon.”
To acknowledge past uses of the term microgrid, Navigant Research includes remote systems in its analysis, which were first called microgrids decades earlier and now are also included in the US Department of Energy definition. For the first time, this report also sizes the market globally and regionally by the following business model categories: energy-as-a service, government funding, owner financing, and utility rate base financing.
This report, Market Data: Microgrids , analyzes the global market for microgrids, with a focus on the six microgrid market segments and five business model types. The study examines the status of this maturing industry and the potential future growth of microgrid segments and business models. Global market forecasts for capacity and implementation spending, broken out by segment and region, extend through 2027. The report also examines multiple scenarios for future microgrid market growth: conservative, base, and aggressive.