The microgrid market looks like a promising growth opportunity for electrical companies with some expertise in related areas like utility, heavy industrial and large-scale commercial projects. According to a new report from the research team at Greentech Media (GTM), cumulative investment in microgrids in the United States over the next five years may surpass $3.5 billion.
By 2020, according to “North American Microgrids 2015: Advancing Beyond Local Energy Optimization” the U.S. will be home to an estimated 2.8 gigawatts of total microgrid capacity, a 127 percent cumulative capacity increase relative to 2015 numbers.
Fuel-based generators represent nearly all generation to date, GTM Research said, but renewables are expected to grow by more than tenfold to 730MW and will account for 26% of total microgrid capacity by 2020.
Here's where you can find out more about the study: