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A new 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.
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 behind-the-meter (BTM) and onsite generation. According to a new report from Navigant Research, total revenue in the DRen market is expected to be $85.3 billion in 2019 and $165.7 billion in 2028, experiencing a compound annual growth rate (CAGR) of 7.7%.
“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.”
According to the report, diesel generators have long been the equipment of choice for BTM and onsite 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.
The report, Distributed Renewables Overview, analyzes the global market for DRen technologies. The study provides an analysis of the market issues, including drivers and challenges, related to BTM solar PV, small-scale wind, and other renewables. Global market forecasts, broken out by region and application, extend through 2028. The report also examines the key technological enablers related to DRen deployments. 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 clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.