The microgrid is also used in the defense services and research labs to have a secure network from independent external power stations and reduce the risks of cyber-attacks. The declining cost of renewable energy sources is also a contributing factor to the increasing demand of the microgrid facility. The commercial and the industrial sector are increasingly adopting microgrid technology in order to reduce the emission levels and avail a reliable and uninterrupted supply of electricity in remote areas. The need for microgrids is also anticipated to rise as a result of expanding government programmes and laws as well as a move toward distributed renewable energy generation, including fuel cells, wind turbines, and solar photovoltaics (PV).
The demand for the technology is anticipated to rise as governments take more measures to minimise carbon footprints on the environment and reduce reliance on fossil fuel-based power generation to generate electricity.
The rising demand for clean energy sources is to blame for this market's expansion.
VANCOUER, BC, CANADA, Aug/ / - According to a recent estimate by Emergen Research, the worldwide microgrid market would be worth USD 61.18 billion by 2027.
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