Installed Distributed Energy Resources Capacity is Expected to Reach 530.7 GW in 2024, According to Navigant Research
Deployments of distributed energy resources are challenging
incumbent grid operating models, report finds
A new report from Navigant
Research analyzes the global market for distributed energy resources
(DER) technologies, with forecasts for installed capacity and revenue,
through 2024.
DER penetration is increasing globally, causing a significant, and
sometimes controversial, impact on the power and utilities sector. The
rapid expansion is expected to force a major shift away from the
centralized, one-way electrical grid, toward the integration of smaller
power sources that can be aggregated to meet regular demand. Click
to tweet: According to a new report from Navigant Research, annual
installed capacity across the global DER market is expected to grow from
136.4 GW in 2015 to 530.7 GW in 2024.
“The overarching goal of DER deployments is to integrate these resources
effectively in order to make the electricity grid more efficient,
resilient, cost-effective, and sustainable,” says Mackinnon Lawrence,
senior research director with Navigant Research. “With global DER
capacity deployments expected to outpace centralized generation
five-to-one by 2024, there is little doubt that technologies like solar
photovoltaics (PV), energy storage, and demand response will force an
unprecedented restructuring of grid architecture and utility business
models.”
In many markets, DER deployments are challenging incumbent grid
operating models, requiring a more dynamic network with advanced
communications and orchestration to ensure stability, efficiency, and
equality, according to the report. Given the diversity of available DER
technologies and rapidly declining costs, most countries are expected to
see more new DER capacity deployed than centralized generation capacity
in the coming decade, especially solar PV, generator sets, and energy
storage.
The report, Distributed
Energy Resources Global Forecast, provides a quantitative
analysis of the global market for DER technologies and assesses the key
regional market developments and technology trends. The technologies and
solutions covered include distributed solar PV (<1 MW), small and medium
wind turbines (<500 kW), microturbines, stationary fuel cells, diesel
and natural gas generator sets (<6 MW), distributed energy storage
systems, microgrids, electric vehicle (EV) charging, and demand
response. Installed capacity and revenue forecasts for 10 leading
countries, as well as their respective regions, extend through 2024.
This report also provides a comparison of DER and conventional
generation deployments over the next decade. An Executive Summary of the
report is available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global
professional services firm that combines deep industry knowledge with
technical expertise to enable companies to defend, protect and create
value. With a focus on industries and clients facing transformational
change and significant regulatory and legal issues, the Firm serves
clients primarily in the healthcare, energy and financial services
sectors which represent highly complex market and regulatory
environments. Professional service offerings include strategic,
financial, operational, technology, risk management, compliance,
investigative solutions, dispute resolutions services and business
process management services. The Firm provides services to companies,
legal counsel and governmental agencies. The business is organized in
four reporting segments – Disputes, Investigations & Economics;
Financial, Risk & Compliance; Healthcare; and Energy. More information
about Navigant can be found at navigant.com.
* The information contained in this press release concerning the
report, Distributed Energy Resources Global Forecast, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.
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