Microgrids have served a range of industries and communities across the globe for decades. The market continues to grow with a forecasted net worth of $39.4 billion by 2028. What are microgrids, and why is their popularity projected to soar throughout the next decade? Keep reading to find out.
What is a microgrid?
A microgrid is a local energy grid with control capability, or the ability to operate autonomously and disconnect from the grid. In general, a microgrid operates while connected to the grid. However in emergency situations when the main grid fails, such as storms or power outages, for example, a microgrid can be disconnected from the main grid with a switch and provide local power autonomously.
Microgrid popularity may be due to this technologies range of capabilities. Along with backup power in case of emergencies, a microgrid can cut costs, power local resources, and increase independence & sustainability for a community or organization. It can power anything from a small facility to a large community.
A microgrid can be powered by battery energy storage, distributed generators and/or renewable power sources such as solar panels or wind turbines. An intelligent microgrid controller manages these power sources and all other parts of the microgrid in order to cut costs and generate clean energy and electric reliability. There is no need for human control of this system. An advanced controller can even track real-time changes to power prices on the central grid and choose to buy power if it is inexpensive.
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