Other Prominent Vendors in the market are: Chevron Energy, Microgrid Solar and General Microgrids
Commenting on the report, an analyst said: “Key market vendors such as ABB, Siemens, and GE Electric have also increased their investments in R&D for the development of sophisticated remote microgrids. They are associating with suppliers and value-added resellers. The growing focus on R&D and establishing partnership networks is helping vendors to generate energy in an economical way. We expect the financial support for remote microgrids by the US, the US Agency for International Development, and entities such as the Clinton Climate Initiative and the Bill Gates Foundation to provide the necessary market boost.”
According to the report, governments worldwide are supporting remote microgrid installations through incentives. They are providing incentives to promote the use of renewable power generation and electric vehicles, which has increased the demand for microgrids. Moreover, governments have started investing in advanced energy infrastructure projects to develop remote microgrids that can sustain the increased demand for power supply by end-users.
Further, the report states that the high implementation cost of remote microgrids hinders market growth, especially in APAC, as it is not affordable for SMEs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Sep 14, 2015