![]() The rising demand for enhanced energy security and reliability in various industries, communities, and critical facilities is bolstering the growth of the market. Rising demand for enhanced energy security Apart from this, the increasing adoption of energy systems that have low transmission losses is impelling the growth of the market. Furthermore, the rising demand for resilient infrastructure during natural disasters and cybersecurity threats is supporting the growth of the market. In addition, advancements in microgrid technology, such as improved control systems, energy storage solutions, and grid management software, are offering lucrative growth opportunities to industry investors. ![]() Moreover, governing agencies of various countries are encouraging the adoption of microgrids by offering several incentives, which is contributing to the growth of the market. In line with this, increasing concerns about reducing greenhouse gas (GHG) emissions around the world are strengthening the growth of the market. As it is highly flexible and can be customized to meet unique energy needs, the demand for microgrid is increasing across the globe.Īt present, the rising adoption of microgrids, as they promote energy efficiency, reduce reliance on fossil fuels, and enhance grid resilience, is bolstering the growth of the market. It can operate autonomously or disconnect from the main grid during power outages or emergencies and ensure a reliable and continuous power supply to a specific area or facility. It typically includes a combination of renewable energy sources, energy storage devices, and conventional generators. A microgrid is a localized and small-scale energy system that generates, distributes, and manages electricity independently or in conjunction with the main power grid.
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