Worldwide Revenue from Utility Distribution Microgrids is Expected to Exceed $3 Billion by 2023, According to Navigant Research
BOULDER, Colo.—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 $1.4 billion annually in 2014 to more than $3 billion in 2023.
Responding to this growth, in the coming months Navigant’s Microgrid Service Offering Team will offer an exclusive study of small power grids that will bring together a high-level consortium of utilities, project developers, software and hardware providers, and other key microgrid and nanogrid stakeholders, to collaborate with industry peers in order to develop critical knowledge and lasting relationships with key partners across the small grid industry. Beginning in March 2015, this four-to-five month multi-client study will provide critical insight into this rapidly growing and uncertain market to large North American distribution utilities and their microgrid vendors and service providers.
“For utilities, the emergence of this dynamic market carries profound, and possibly ominous, implications, along with opportunities,” says Peter Asmus, principal research analyst with Navigant Research and one of the leaders of the small grid study. “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.”
Providing access to a high-level team of Navigant small grid subject-matter experts in an in-person, group setting, the study, “The Future of Small Scale Microgrids & Nanogrids,” will provide answers to the following questions:
- What are the most promising economic models for financially sustainable microgrids and nanogrids?
- What are the key technologies (and key vendors) playing or emerging in the small-grid sector?
- What are the critical deployment issues and opportunities particular to small-scale grids?
- What are the primary microgrid/nanogrid growth drivers, markets, and segments?
Participation in the study will be limited to 30 clients. Registration closes on February 27, 2015. More information on the study is available on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.