Worldwide revenues from utility distribution microgrids expected to exceed US$3 billion by 2023, says Navigant
Press release, February 11; Alex Wolfgram, DIGITIMES [Wednesday 11 February 2015]
Major power outages caused by extreme weather, along with the spread of distributed, renewable energy resources, have set the stage for regulatory reforms that are likely to enable both customer-owned microgrids and utility distribution microgrids (UDMs) to expand strongly in the next decade. According to Navigant Research, worldwide revenue from UDMs is expected to grow from US$1.4 billion annually in 2014 to more than US$3 billion in 2023.
"For utilities, the emergence of this dynamic market carries profound, and possibly ominous, implications, along with opportunities," said Peter Asmus, principal research analyst with Navigant Research. "There is a clear need to examine the overarching architectures and related business models for microgrids if utilities are to remain relevant in an energy future characterized by diverse, distributed energy resources."
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