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North America Remote Microgrid Market Trends

Report ID: GMI11505
Published Date: Sep 2024
Report Format: PDF

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North America Remote Microgrid Market Trends

Rising regulatory support and policy development including the Bipartisan Infrastructure Law and Clean Energy for Rural and Remote Communities (CERRC) Program, for providing funding to microgrid projects to replace diesel generators in off-grid Indigenous communities will improve the product penetration. Additionally, growing demand for energy storage systems coupled with rising public-private partnerships (PPPs) and governments collaborations with utilities, private sector energy providers, and technology companies will strengthen the industry growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of North America remote microgrid was worth over USD 2.6 billion in 2023 and is estimated to grow at a 10.2% CAGR from 2024 to 2032, led by rising climate-related events, such as hurricanes, wildfires, and extreme storms.

The CHP power source segment in the North America remote microgrid market is anticipated to exceed USD 2.7 billion by 2032, owing to their high energy efficiency.

North America remote microgrid market from the hybrid segment is set to grow at over 10.9% CAGR through 2032, led by rising improvements in energy storage solutions, such as advanced batteries and fuel cells.

Canada remote microgrid market is anticipated to exceed USD 1 billion by 2032, led by increasing demand for reliable power source from Arctic and northern communities were traditional energy infrastructure.