Global Information Inc. would like to present a new market research report, "Smart Grid Renewables Integration - Transmission Upgrades, Energy Storage, Demand Response, Virtual Power Plants, and Microgrids as Enablers of Renewable Energy on the Grid" by Navigant Research (formerly Pike Research).
Revenue from smart grid renewables integration will reach almost $4 billion in 2012, the cleantech market intelligence firm forecasts, and climb to $13 billion by 2018. The sectors compound annual growth rate (CAGR) over those six years will be nearly 23%.
The leading technology in terms of smart grid renewables integration market revenue in 2012 is microgrids, which will capture more than $3 billion, or 81% of the total pie. Remote microgrids will represent approximately 92% of this total, a reflection of the challenges of integrating distributed solar and wind in regions of the world where a reliable utility power grid is lacking. In 2018 microgrids will continue to lead the market, with 77% of total worldwide revenue.
Breaking out the smart grid renewables integration technologies forecasts on a regional basis, the Asia Pacific region shows the most market activity. Revenue in that region will increase from over $1 billion in 2012 to almost $5 billion in 2018. Second is North America, with revenue increasing from $974 million in 2012 to almost $4 billion by 2018.
"The success record of smart grid renewables integration to date is a mixed bag," says senior analyst Peter Asmus. "European countries are boldly plowing forward while many U.S. utilities exhibit electrotrophobia - the fear of change linked to greater reliance upon intermittent renewable energy resources. That will change as many utilities launch comprehensive programs and place significant investments in the ability of the smart grid to lower the costs of
Pike Researchs report, "Smart Grid Renewables Integration", examines current thinking and practices with regard to a series of smart grid technologies, policies, and applications designed to help integrate large penetration levels of renewable energy into power systems around the world. The study provides market capacity and revenue forecasts for the following technologies: static VAR compensators; synchrophasors; transmission, distribution and residential advanced energy storage systems; demand response; virtual power plants and microgrids. Key industry players are profiled, including SWOT analysis of their market positions, and regional market forecasts for each key segment extend through 2018.