Smart grid market research: Renewables, smart cities, demand response and more
This week renewable energy and distributed generation dominate our smart grid market research roundup, from residential distribution and energy storage to the global renewable energy market in the military. But there’s also coverage of the markets for smart cities, demand response and more.
According to a new report from Navigant Research, worldwide revenue from all forms of residential distributed generation and energy storage will grow from $52.7 billion annually in 2014 to $71.6 billion in 2023. Read more >>
Global renewable energy electricity capacity increased by more than 8% in 2013, achieving a new record level, according to a United Nations-supported report released on June 3. Renewable energy sources met about one-fifth of world energy consumption, according to the United Nations Environment Programme (UNEP). Read more >>
Analysts forecast the global renewable energy market in the military to grow at a CAGR of 13.99 percent over the period 2014-2018, according to a report from Research and Markets. One of the key factors contributing to the growth is the increased adoption of de-centralized power generation. That market has also been witnessing an increase in the construction of smart grids. However, the comparative low generation capacity could pose a challenge to market growth. Read more >>
Despite an overall slump in installations in 2013, global cumulative wind power capacity will more than double from 319.6 Gigawatts (GW) at the end of 2013 to 678.5 GW by 2020, says research and consulting firm GlobalData. The company’s latest report states that China, the largest single wind power market responsible for 45% of total global annual capacity additions in 2013, is expected to have a cumulative wind capacity of 239.7 GW by 2020. Read more >>