BOULDER, Colo., Oct. 6, 2021 /PRNewswire/ — A new report from Guidehouse Insights examines the public policy and technology drivers accelerating the adoption of commercial and industrial (C&I) microgrids. The report provides global forecasts for microgrid subsegments on both a capacity and implementation spending basis through 2030.
Historically, the C&I microgrid segment has lagged behind other microgrid market segments, primarily because of the lack of a clear value proposition based on the ROI for microgrids. In the last decade, however, it has emerged as the fastest growing microgrid market worldwide. According to a new report from Guidehouse Insights, the C&I microgrid market is evolving into one of the most innovative microgrid markets, as technology advances make the transition from fossil fuel to renewables increasingly cost-effective.
“The cost of solar PV continues to decline over time, which in turn, makes microgrids more attractive for C&I customers, as their primary focus is on cost reductions,” says Peter Asmus, research director with Guidehouse Insights. “Furthermore, cost-competitive energy storage, which most commonly comes in the form of batteries, is the key hardware technology advancement that is expected to enable a more attractive microgrid value proposition for C&I microgrids.”
However, the C&I microgrid segment also faces hurdles. Many C&I customers, such as data centers, first focus on what they deem practical solutions to their reliability concerns, such as backup diesel generators and redundant utility feeds. Connecting newer infrastructure (e.g., solar PV and advanced batteries) with older existing infrastructure can present challenges.
The report, Commercial and Industrial Microgrids, forecasts four C&I microgrid subsegments (grid-tied commercial, grid-tied industrial, remote commercial, and remote industrial) on both a capacity and implementation spending basis. It also features profiles of leading microgrid vendors focusing on the C&I market. The report reviews public policy and technology drivers accelerating adoption of C&I microgrids, including trends toward modular systems and energy as a service (EaaS) offers. The forecast includes all major global regions and extends through 2030. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Commercial and Industrial Microgrids, is a summary and reflects the current expectations of Guidehouse Insights 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 Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
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SOURCE Guidehouse Insights