Microgrid Market with Worldwide Industry Analysis to 2020 FMI | Page 3

Report
Description
Report Description
A microgrid is a modern small-scale electricity system used to generate, distribute and regulate
the flow of electricalpower. It includes distributed energy resources and multiple loads which
enable it to interconnect with other electrical grids as well as operate in a parallelpower
generation environment. Microgrids can be used to generate power from both renewable and
non-renewable energy sources. There are different types of microgrids. The first one is true
microgrid or customer microgrid, which is self-governed, has a regulatory structure and is
compatible with the current technology. The second type is utility or community microgrid or
milligrid which involves a division of regulated grid.The thirdvariety is virtual microgrid orvgrid.It
covers multiple sites’distributed energy resources (DER) and are coordinated in a manner such
that they can be presented as a single unit to the grid
Around the world, governmentsare taking initiatives in setting up solar, biopower and wind
energy farms, and increasingly concentrating on renewable energy resource based
microgrids.Increased requirement ofenhanced technology for power generation and
distribution, growing industrialization, government initiatives towards green energy, and a
demand for secure andconsistent power supply are some of the factors driving the growth of
microgrid market.
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However,monetaryobstructions, complication in land acquisition and registration of land for
solar PV installation in rural areas, high primary cost of installation, huge investment required
for integrating existing systems with microgrid, technological barriersetc. are some of the
aspectsholding backthe microgridmarket in some regions.