SBI Energy Finds Microgrids Could be Key to Smart Grid Development
New York, NY – April 2, 2012—Microgrids could be the killer-app for Smart Grid development.Industrial and energy market research publisher SBI Energy reports that the boom in cheap and plentiful natural gas could lead to increased use of micro-turbines and the development of more microgrids. The U.S. military leads the world in deploying and testing new microgrid technologies. It is the primary driver fueling Smart Grid market growth, which is forecast at 5.8% CAGR through 2031.
A just released research report from SBI Energy, World Smart Grid, 2nd Edition, finds that microgridgrowth areas are in universities and hospitals, industrial locations with combined heat and power (CHP) generating units, U.S. military bases, and small communities in Europe. If funding from the World Bank and other sources is forthcoming, there will also be growth potential for microgrid development in remote areas of Africa, Asia, and South America.
“Simply put, today’s power grid is having difficulty meeting the high quality, stable, and reliable power requirements of an increasingly sophisticated, technology-oriented world,” states Shelley Carr, SBI Energy publisher. “’Smart’ or ‘intelligent’ technologies now exist that can significantly improve grid performance. With these technologies a ‘smarter’ grid will be able provide improved service reliability and more stable electric rates at a lower cost than simply building more infrastructure to meet increased demand.”
Smart grid development is moving into a “normal” period of growth following substantial activity as the results of government stimulus funding. As this funding runs its course, utilities and other stakeholders are having a harder time with new development efforts as a result of economic conditions, regulatory uncertainty, consumer acceptance, and other factors that constrain their ability to fund many Smart Grid projects. These and other considerations are addressed in the report as they pertain to inhibiting or advancing development of the Smart Grid.
World Smart Grid, 2nd Edition, presents an in-depth analysis of the development, applications, products, manufacturers, and trends in the worldwide development of the Smart Grid. It provides a comprehensive analysis of the current market for Smart Grid enabling technologies and projects future market size through 2031. Market concerns including energy demand, environmental impact, economic conditions, consumer acceptance, stakeholder concerns, and government activities are discussed in terms of their impact on market growth for the Smart Grid and its enabling technologies. The report also profiles selected companies that manufacture and market technologies that enable the Smart Grid and the strategies they have adopted to maximize growth and profitability.
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBIEnergy also offers a full range of custom research services. To learn more, visitwww.sbireports.com.