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Global Microgrid Market Set for Rapid Growth Beyond 2015, Finds Frost & Sullivan

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Global Microgrid Market Set for RapidGlobal Microgrid Market Set for Rapid Growth Beyond 2015, Finds Frost & Sullivan PR Newswire LONDON, March 27, 2014 -- Participants entering the market now can garner first-mover advantage The global microgrid market is rapidly gaining prominence as supportive government policies in various countries encourage the setting up of renewable sources of energy such as wind and solar farms. The market in the US has established a clear lead, primarily engaging microgrids for remote and military applications. In Europe, microgrids are viewed as a suitable option for renewable energy integration. Emerging economies in Asia-Pacific, though, present the largest market potential as they look to counter power shortages and low grid connectivity. Frost & Sullivan's analysis of the emerging global microgrid space estimates that there will be a sharp rise in installations from 2015 to 2020. Among the different application sites for microgrids, remote community site deployments are expected to experience the strongest and most consistent growth in the next five years. The prospect of microgrids being employed by utilities is also high, as research activities gain pace through utility networks. "Increasing focus on renewable energy in the energy mix and its integration is lending momentum to the adoption of microgrids on a global scale," said Frost & Sullivan Energy and Environment Industry Manager Suba Arunkumar.
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Global Microgrid Market Set for Rapid Growth Beyond 2015, Finds Frost & Sullivan

PR Newswire

-- Participants entering the market now can garner first-mover advantage

The global microgrid market is rapidly gaining prominence as supportive government policies in various countries encourage the setting up of renewable sources of energy such as wind and solar farms. The market in the US has established a clear lead, primarily engaging microgrids for remote and military applications. In Europe, microgrids are viewed as a suitable option for renewable energy integration. Emerging economies in Asia-Pacific, though, present the largest market potential as they look to counter power shortages and low grid connectivity.