Global Revenue for Grid Edge Technologies for Distributed Energy Resources is Expected to Total $120 Billion from 2015 to 2024, According to Navigant Research
A recent report from Navigant Research analyzes the global market for grid edge monitoring and control technologies in light of the proliferation of distributed energy resources (DER), including market forecasts for revenue, segmented by solution, category, and region, through 2024.
Utilities the world over are facing unprecedented challenges and opportunities as DER penetration increases along different points of the distribution grid, particularly at the edge. While utility efforts to date have largely been reactive, in the longer term, grid edge intelligence and automation for DER is expected to spur the development of markets for clean energy resources and services. Click to tweet: According to a recent report from Navigant Research, global revenue for grid edge technologies for DER integration is expected to total $120.3 billion from 2015 to 2024.
“So far, North America, Europe, and Asia Pacific have seen the most penetration of distributed renewables and other resources creating disruptive loads,” says Lauren Callaway, research analyst with Navigant Research. “However, differing grid infrastructures, regulatory goals, and access to technology have led market trends to develop differently in different regions.”
The growing penetration of DER threatens distribution grid stability, greatly complicates the grid management process for utilities, and will influence future utility upgrade needs, according to the report. The structure of the existing distribution grid adds to this problem, primarily due to the lack of intelligence available at the grid edge; greater visibility and control of these factors will be necessary as DER installations increase.
The report, Grid Edge Intelligence for DER Integration, analyzes the global market for grid edge intelligence and automation solutions, equipment, and services. The study provides an assessment of current market drivers and inhibitors, regional trends, technology, and business segments related to grid edge technologies for DER integration, in addition to business recommendations for both vendors and utilities. Global market forecasts for revenue, segmented by solution, category, and region, extend through 2024. The report also profiles key industry players and examines several utilities that have implemented grid edge intelligence and automation solutions to align with more ambitious smart grid initiatives and aggressive regulatory policies