Portland, OR -- (SBWIRE) -- 05/11/2018 -- A microgrid is a small group of power generation assets and energy storage equipment, generating power independently in order to meet local energy needs. A microgrid has the capability to island itself and is connected to the main grid at a single point. An energy storage system is a technology used to store the surplus power that can be supplied later when required. Energy storage systems play a diverse role in microgrids. When renewables are used in the microgrid they serve as a voltage source, smoothing the intermittent power flow. For utilities, it helps in peak hour shaving, volt ampere reactive (VAR) services, and black start.

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The analysts forecast the global energy storage market for microgrids to grow at a CAGR of 16.72% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global energy storage market for microgrids for 2017-2021. To calculate the market size, the report considers new installations, it includes energy storage systems (battery and fuel cells).

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

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Global Energy Storage Market for Microgrids 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
- NEC Energy Solutions
- NRG Energy
- Saft
- Samsung SDI
- UniEnergy Technologies

Other prominent vendors
- A123 Systems
- ABB
- ACME
- Adara Power
- BYD

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Market driver
- Increasing government support
- For a full, detailed list, view our report

Market challenge
- High exit and standby costs
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Market trend
- Rapid advances in technology
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Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?