North American Microgrid Market size is slated to experience a healthy growth from 2021 to 2027, according to a latest forecast report by Graphical Research.
North America Microgrid industry will grow on account of rising integration of a sustainable electrical infrastructure and increasing proportion of renewable energy. Increasing consumer concerns pertaining to emissions favored by national emission targets will positively influence the industry landscape. Rapid expansion of smart electric networks coupled with advancing distributed generation technologies will accelerate the industry outlook.
Surging investments toward refurbishment & expansion of existing electrical network along with flourishing commercial and industrial sector will fuel the market growth. Shifting focus toward innovative power storage systems coupled with advancing sustainable technologies will fuel the business potential. For instance, in 2020, the U.S. announced its target to curb GHG emissions up to 50% by 2030 from 2005 level.
Solar PV microgrid industry will witness an upsurge owing to increasing deployment across off grid & remote areas and shifting trends to reduce resiliency on diesel fuel. Favorable regulatory norms including FIT, subsidies, leveraging schemes, tax rebates, and investment tax credits, will augment the industry landscape. Declining solar PV cost along with paradigm shift toward integration of efficient power generation sources will fuel the business potential.
Browse detailed statistical insights from the report, “North America Microgrid Market Forecast 2027 Application (Healthcare, Educational Institutes, Military, Utility, Industrial/Commercial, Remote), By Connectivity (Grid Connected, Off Grid), By Grid Type (AC Microgrid, DC Microgrid, Hybrid), By Source (Diesel Generators, Natural Gas, Solar PV, CHP), By Storage Device (Lithium-Ion, Lead Acid, Flow Batteries, Flywheel), Research Report, Country Outlook (U.S., Canada, Mexico), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Rapid urbanization coupled with stringent government renewable reforms for commercial & residential establishments positively sway the market revenue. Sustainable on-site generation technologies in line with smart control networking programs will complement the technology adoption. Favorable regulatory policies pertaining to the limit the carbon footprints and increasing concern toward the depletion of fossil fuel will augment the industry outlook.
Canada microgrid industry is anticipated to grow on account of regulatory norms toward integration of reliable power supply infrastructure and ongoing deployment of wind farms and combined heat and power systems. Enhancements to grid reliability during extreme weather events, local revenue opportunities, environmental concerns and increased autonomy will drive the product adoption. The growing cross-border transmission network expansion coupled with rising demand for ultra-high voltage infrastructures will accelerate the business growth.
The market for microgrid in North America research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2016 to 2027, for the following segments:
North America Market, By Connectivity
North America Market, By Grid type
- AC microgrid
- DC microgrid
North America Market, By Source
- Diesel generators
- Natural gas
- Solar PV
North America Market, By Storage Device
- Lead acid
- Flow battery
North America Market, By Application
- Educational institutes
The above information has been provided for the following countries: