Renewable energy integration becoming higher priority for smart grid projects

Boulder, Colo. — According to a new report from Pike Research, an expansion of market opportunity for smart grid technologies that enable the integration of renewables is on the rise. Revenue from smart grid renewables integration will reach almost $4 billion in 2012, the clean-tech market intelligence firm forecasts and climb up to $13 billion by 2018. The sector’s compound annual growth rate (CAGR) over those six years will be almost 23 percent.

The leading technology in smart grid renewables integration market revenue in 2012 is microgrids, which will capture more than $3 billion, or 81 percent. Remote microgrids will represent about 92 percent of this total, a reflection of the challenges of integrating distributed solar and wind in regions of the world where a reliable utility power grid is lacking. In 2018, microgrids will continue to lead the market, with 77 percent of total worldwide revenue.   
 
Breaking out the smart grid renewables integration technologies forecasts on a regional basis, the Asia-Pacific region shows the most market activity. Revenue in that region will increase from more than $1 billion in 2012 to almost $5 billion in 2018. Second is North America, with revenue increasing from $974 million in 2012 to almost $4 billion by 2018.

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