A recent report from Navigant Research analyzes the global market for distributed renewable (DRen) technologies, providing global market forecasts, broken out by region and application, through 2028.
The report, Distributed Renewables Overview, offers an analysis of the market issues, including drivers and challenges, related to behind-the-meter (BTM) solar photovoltaics (PV), small-scale wind, and other renewables. The report also examines the key technological enablers related to DRen deployments.
DRen technologies have the ability to power local communities while decreasing carbon emissions and dependence on fossil fuels. Because of this, they offer some of the world’s remotest environments electrification support for BTM and on-site generation. According to the report, total revenue in the DRen market is expected to be US$85.3 billion in 2019 and US$165.7 billion in 2028, experiencing a compound annual growth rate (CAGR) of 7.7%.
The report says, diesel generators have long been the equipment of choice for BTM and on-site power generation. However, 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.
"DRen assets such as solar PV, wind, biogas, and biofuels provide greater energy security and resiliency along with emission reductions," says Pritil Gunjan, senior research analyst with Navigant Research. "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."
An executive summary of the report is available for download here.