Pike Research has released a new report, Remote Microgrids that concludes that the primary driver for remote microgrids over the next 6 years will be integration of solar photocoltaics and forecasts that the global remote microgrid market will expand from 349 megawatts of generation capacity in 2011 to over 1.1 gigawatts by 2017.
The expansion in microgrid capacity will result in more than $10 billion in revenue for the industry by 2017, should the global economy continue on it’s current rate of growth, according to Pike Research. If the world slump continues, Pike forsees that the market will still be a $4.5 billion market in 2017.
The United States Agency for International Development (USAID), The United Nations and entities such as the Bill Gates Foundation and Clinton Climate Initiative provide significant financial support for development and implementation of remote microgrids.
“The global remote microgrid segment is the most attractive of all microgrid segments from a revenue perspective. Recent research—also reflected in Pike Research’s recently updated Microgrid Deployment Tracker—indicates that this sector is far more robust than previously reported, and with solar PV prices continuing to decline, is poised for substantial growth, even without government incentives,” says senior analyst Peter Asmus.
A summary of the remote microgrids report is available for download at www.pikeresearch.com.