Big Demand for Microgrids Creating $47.4 Billion Opportunity

Demand for microgrids has been explosive.

With fires, storms, and other emergency situations, businesses and consumers are rushing to obtain a better source of energy.

Home microgrid demand in California skyrocketed 1,000% over the last month, according to Microgrid Knowledge.  All in response to the wildfires and power shutoffs.

“Not only has demand increased; so has the pressure to install home microgrids as quickly as possible, and some companies say they can’t move quickly enough to satisfy customers’ requests.”  There’s so much demand around the world at the moment, the industry could reach $47.4 billion over the next five years.

Not only could further growth be driven by the energy issues in California, but also the rising demand for “clean energy, increasing instances of cyberattacks on the energy infrastructures, growing requirement for reliable and secure global power supply, and rising global deployment of microgrids for rural electrification,” as noted by Research and Markets.