Albany, NY -- (SBWIRE) -- 05/15/2018 -- The global microgrid market is forecast to increase from REDACTED in 2016 to REDACTED in 2017,rising to nearly REDACTED by 2022 at a compound annual growth rate (CAGR) of REDACTED over the five-year forecast period. Distributed renewable energy microgrid technology holds significant potential as akey driver for increasing energy access for millions of people around the word without access to energyas well as for providing reliable and stable power to industry. Because the microgrid approach to electrical distribution allows local users more flexibility on control over the optimization of power sources and uses, it is growing in appeal.

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Microgrids are an extension of on-site generators, or dedicated power supplies, sometimes called captive generation. Technically, a microgrid is a grouping of small, independent power-generating equipment connected to computer systems that monitor, control and balance energy demand and supply and storage in response to changing energy needs. They can also be cleaner if solar or wind is used as part of the energy mix. Now that solar panel prices have fallen, distributed solar can be cheaper than running diesel generators alone for backup power. The microgrid market is therefore undergoing a transformation from a niche application intended for military bases, telecommunication base stations and remote communities to national grid extenders, a grid modernization tool for utilities, cities, communities and public institutions.

The largest microgrid segment throughout the forecast period will be the grid-connected microgrid market, valued at REDACTED in 2016 and forecast to increase from REDACTED in 2017 at a CAGR of REDACTED to reach REDACTED by 2022. Grid-connected systems will primarily be found in more developed countries, where the main aim of the user is not necessarily power provision, but power supply resiliency and reliability.

Report Scope:

This market study assesses the leading microgrid technologies that are currently in use globally for powering commercial, industrial, military, and educational facilities such as universities, homes and communities, and rural/off-grid villages. The microgrid technologies discussed in this report are in use across these industries and many more as well as new emerging sectors driven by technological innovation.

The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry, academic and company data regarding the projected level of demand for microgrid technologies. The report provides a comprehensive review of available data to provide a realistic, robust and accurate assessment of this quickly changing market.

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BCC analyzes each major microgrid technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in the industry.

BCC analyzes the industry worldwide in terms of manufacturing and deployment of technologies or products. For the most relevant and available microgrid technologies BCC examines the role of government both in regulating the industry and in supporting these microgrid technologies through promotional incentives. The report discusses recent trends and sales and provides industry overviews and market assessments for leading microgrid technology. Estimated values used are based on manufacturers total revenues.

Report Includes:

- 29 data tables and 7 additional tables
- An overview of the global market for microgrid technologies
- Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Identification of segments with high growth potential and their future applications
- Explanation of major drivers and regional dynamics of the market and current trends within the industry
- Detailed profiles of major vendors in the market, including ABB Group, ALSTOM Power, Inc., Burns Engineering, Inc., Caterpillar Inc. and Toshiba Corp."

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