Demand for Microgrids Creates $26 Billion Opportunity
Over the next six years, the global microgrid market could be worth up to $26 billion, according to Global Market Insights.
All thanks to increased power failures and inadequacies of power grids, coupled with increased demand for energy.
That’s in addition to rising demand for “clean energy, increasing instances of cyberattacks on the energy infrastructures, growing requirement for reliable and secure global power supply, and rising global deployment of microgrids for rural electrification,” as noted by Research and Markets. In California, for example, several cities are now pursuing microgrid projects, which has been fueled by wildfire-related shutoffs, and a desire to lower energy costs.