Total Revenue in the Distributed Renewables Market Is Expected to Exceed $165 Billion in 2028
Distributed renewable assets such as solar PV, wind, biogas, and biofuels provide greater energy security and resiliency along with emissions reductions
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. Click to tweet: 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.
*The information contained in this press release concerning the report, Distributed Renewables Overview, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.