Friday September 27, 2019 0 comments
BOULDER -- Total revenue in the distributed renewables (DRen) market is expected to be $85.3 billion in 2019 and $165.7 billion in 2028, experiencing a compound annual growth rate (CAGR) of 7.7%, according to a new report from Navigant Research.
The report analyzes the global market for distributed renewable (DRen) technologies, providing global market forecasts, broken out by region and application, through 2028.
DRen technologies have the ability to power local communities while decreasing carbon emissions and dependence on fossil fuels, the report notes. Because of this, they offer some of the world’s remotest environments electrification support for behind-the-meter (BTM) and onsite generation.
“DRen assets such as solar PV, wind, biogas, and biofuels provide greater energy security and resiliency along with emission reductions,” said Pritil Gunjan, Navigant senior research analyst.
“Technology has played a crucial role in defining the future of disruption in this sector, and declining costs and innovative long-term price-based instruments are expected to continue to support the ongoing development and grid parity of DRen energy sources.”
According to the report, diesel generators have long been the equipment of choice for BTM and onsite power generation. But falling solar and storage costs have made it possible to provide a levelized cost of electricity lower than that of diesel and conventional fuel generators.
The report, Distributed Renewables Overview, analyzes the global market for DRen technologies. The study provides an analysis of the market issues, including drivers and challenges, related to BTM solar PV, small-scale wind, and other renewables.
Global market forecasts, broken out by region and application, extend through 2028. The report also examines the key technological enablers related to DRen deployments.
An Executive Summary of the report is available for free download on the Navigant website.