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Investment in Microgrid Enabling Technologies is Expected to Exceed $155 Billion Through 2023, According to Navigant ResearchA recent report from Navigant Research analyzes the global market for significant microgrid enabling technologies, including diesel generators, natural gas generators, fuel cells, solar PV, distributed wind, smart inverters, advanced energy storage, and others. Offering the ability to isolate from the wider electricity grid during power outages, as well as a high capacity to integrate renewable, distributed energy resources, microgrids have become a growing phenomenon in the global energy sector in the last few years. Demand for the technologies that underlie these small, flexible systems is expected to grow rapidly over the next several years. Click to tweet: According to a recent report from Navigant Research, worldwide investment in microgrid enabling technologies is expected to total more than $155 billion from 2014 through 2023. "Dramatic change is occurring in the microgrid market, as the economic value that these systems bring to the overall power grid becomes more and more apparent," says Peter Asmus, principal research analyst with Navigant Research. "We expect the technologies that enable these systems to play key roles in the expansion of the microgrid sector to encompass additional technologies and services related to smart buildings, demand response, distribution and substation automation, and smart meters." Perhaps the most noteworthy change happening in the microgrid sector, according to the report, is the investigation of new business models designed to support full commercial implementation of microgrid systems. Key to this development will be the companies that offer some level of microgrid optimization via smart grid orsmart inverter and/or power electronics advances. The report, "Microgrid Enabling Technologies," analyzes the global market for significant METs, including diesel generators, natural gas generators, fuel cells, solar PV, distributed wind, other renewables (micro-hydro and biomass), combined heat and power (CHP), smart islanding inverters, advanced energy storage, plug-in electric vehicle (PEV) energy storage capacity, and microgrid software. The report provides an analysis of the market issues, including technology drivers and implementation challenges, associated with microgrid technologies. Global market forecasts for capacity and revenue, segmented by technology and region, extend through 2023. The report also examines the basic principles and commercial time horizons for key METs, as well as the competitive landscape. An Executive Summary of the report is available for free download 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. About Navigant Navigant is a specialized, global expert 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 provide services that extend from expert and advisory work through implementation and outsourcing. 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. *The information contained in this press release concerning the report, "Microgrid Enabling Technologies," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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