The microgrid market is expected to see a significant increase over the next 10 years. Energy storage systems (ESSs) deliver resource optimization, resource integration, stability, and load management to microgrids.
The Energy Storage for Microgrids report, conducted by Navigant Research, finds that the total worldwide capacity of ESSs for microgrids will grow from 817-MWh in 2014 to 15,182-MWh by 2024.
“The primary value proposition of energy storage in a microgrid is in improving the payback period of the system, either by enabling an increase in the penetration of renewable energy sources, allowing participation in deregulated ancillary service markets, or reducing diesel fuel consumption,” Anissa Dehamna, senior research analyst with Navigant Research, said. “High prices for diesel fuel, a stronger push for the utilization of renewable resources in microgrids, and ancillary service market reforms will all underscore the business case for energy storage for microgrids.”
The report analyzes the global market for energy storage in microgrids through:
· grid-tied customer-owned,
· grid-tied utility-owned,
· grid-tied military,
· remote customer-owned,
· remote utility-owned, and
· remote military microgrids.
To read the report, click here.