The North America microgrid market is anticipated to reach $15502.51 million by 2030, growing at an 11.07% CAGR during the estimated period, 2022-2030.

In North America, the microgrid demand has witnessed considerable growth due to increasing power outages due to extreme weather events. The surge has prompted more employment of microgrids throughout the region. The regional market is witnessing growth owing to an increase in niche applications for remote communities and military bases to a grid modernization tool for public institutions, cities, utilities, and communities. Increased resilience of microgrids underpins many of the current-state level programs and bolsters their adoption in several North American states.

To know more about this report, request a free sample copy

The North America microgrid market growth estimations include the evaluation of United States and Canada. In the United States, the wave of recently announced projects and state-level resiliency plans enable further development and standardization of microgrid technologies for the upcoming generation of advanced, more renewable-heavy projects. The adoption of microgrids is anticipated to accelerate during the forecast period due to significant regulatory and legislative changes to utility franchise rights and rate structures.

Furthermore, flexible microgrid solutions are becoming an important part of renewable integration strategies in areas outside of high penetration states like Hawaii and California as solar PV adoption rates rise. In the wake of storms, natural disasters, and aging grid infrastructure, grid reliability has become an issue. In particular, during emergencies or interruptions in the grid’s service, microgrids supply dependable energy.

Furthermore, because fossil fuels, notably natural gas, are now more affordable, average home electricity rates in the United States have also decreased. Separately, solar community initiatives are beginning to gain traction. These programs will enable people who cannot or do not want to install solar panels on their rooftops to use harnessed solar power.

The North America microgrid market segmentation includes a study by end-user, type, consumption pattern, and offering. Market by end-user covers government & utilities, military, education, healthcare, commercial & industrial, and other end-users.

Commercial and industrial consumers are reconsidering their responsibilities as conventional power consumers. A microgrid enables a commercial & industrial client to transform into a quick-response network resource that may offer services to the electricity distribution and transmission network operators. A microgrid can offer new layers of value or cost savings to commercial and industrial buildings that already have solar panels installed. Building owners are quickly realizing.

Furthermore, hybrid electric structures are made to function even if a service is interrupted. The hybrid electric building has both on-site battery systems that can last six or more hours without utility service and on-site renewable energy. Additionally, they have predictive operating systems that may set priorities for building operations to keep running crucial processes in the event of a breakdown. A business’s ability to continue operating after a storm depends on its hybrid electric building.

Some of the leading companies in the North America microgrid market include Duke Energy Corporation, Exelon Corporation, etc.

Duke Energy Corporation is an electric power holding company. It comprises electric utilities and infrastructure, gas utilities and infrastructure, and commercial renewables that comprise its three business sectors. Electricity is produced, transmitted, distributed, and sold to municipalities, cooperative electric utilities, and other load-serving entities by the electric utilities and infrastructure business, which also offers retail electric service. Duke Energy is headquartered in North Carolina, United States.

Smart Meter is a digital technology from Duke Energy that tracks energy consumption, and two-way communication is used to send the data to Duke Energy. With the help of a smart meter, communication between the individual’s meter and the company is two-way, giving the customer more control over how much energy they use.

Report Synopsis

To request a free sample copy of this report, please complete the form below:

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.