By Greentech Lead America: Revenue from smart grid renewables
integration will be $4 billion in 2012, and will reach $13 billion by 2018 with
a 23 percent CAGR, according to Pike Research. Over the next several years, the
market will see a significant expansion and create opportunities for smart grid
technologies that enable the integration of renewable.
Several companies are currently active in this market;
their efforts have largely been relegated to PowerPoint presentations, pilot
programs, and long range planning. Pike research forecasts that renewables
integration is becoming a higher priority for the smart grid projects and the
market will achieve a healthy growth in coming years.
“The success record of smart grid renewables integration
to date is a mixed bag. 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 integrating
renewable generation at the transmission, distribution, and residential
levels,” said Peter Asmus, senior analyst, Pike Research.
The leading technology in terms of smart grid renewables
integration market revenue in 2012 is microgrids. Microgrids will capture more
than $3 billion, or 81 percent of the total pie. Remote microgrids will
represent approximately 92 percent of this total. In 2018 microgrids will
continue to lead the market, with 77 percent of total worldwide revenue.
Asia-Pacific region will lead the market followed by
North America. Revenue in Asia-Pacific region will increase from over $1
billion in 2012 to almost $5 billion in 2018. North America’s revenue will
increase from $974 million in 2012 to almost $4 billion by 2018.
editor@greentechlead.com