Guidehouse Insights Estimates Microgrid Investments to Reach $8 Billion in Asia Pacific and $9 Billion in Middle East & Africa by 2031

Technological advances, falling prices for renewable energy, and ongoing developments in energy storage have pushed decentralized energy solutions into the mainstream.

BOULDER, Colo., November 17, 2022 /PRNewswire/ — As of 2020, nearly 733 million people worldwide were living without access to electricity, according to the consensus opinion of the International Energy Agency, International Renewable Energy Agency, United Nations Department of Economic and Social Affairs United, the World Health Organization, and the World Bank. A new report from Guidehouse Insights examines the annual deployment of energy access microgrid projects.

(PRNewsfoto/Insight Guidance)

Microgrids provide energy to those who do not have access to the traditional grid because they live in remote or underserved areas. According to a new report from Guidehouse Insights, Asia Pacific and The Middle East & Africa currently lead the microgrid energy access market and are expected to continue leading the energy access across the microgrid market through 2031. Revenue from microgrid investments in Asia Pacific will probably arrive $7.7 billion by 2031, and microgrid income i The Middle East & Africa is expected to arrive $8.9 billion by 2031.

“One of the 17 critical Sustainable Development Goals (SDG) adopted by the United Nations is to ensure basic access to energy for 100% of the world’s population by 2030 (SDG 7). Based on the current rate of progress, that goal will not be missed. by 670 million people, who will still be barred from participating in the global economy,” he says Rohith Unni, research analyst with Guidehouse Insights. “Novel energy management systems, innovative remote monitoring capabilities, and advances in smart meter and energy storage technologies have made microgrids the ideal solution for connecting underserved populations, cost-effectively and sustainably.”

Technological advances, falling prices for renewable energy (RE), and ongoing developments in energy storage have brought decentralized energy solutions, such as microbeads, into the mainstream, with the potential to bring socio-economic progress for those not connected to the traditional grid. , according to the report.

The report, Market Data: Microgrids for Energy Access in Emerging Markets, provides global analyzes of the annual deployment of energy access microgrid projects in terms of power capacity (MW) and project deployment expenditure ($ Millions). These analyses, covering the 10-year period from 2022-2031, are segmented by region, application segments and business models. An executive summary of the report is available for free download on the Guidehouse Insights website.

About Guidehouse Insights

Guidehouse Insights, Guidehouse’s dedicated market intelligence arm, provides research, data, and benchmarking services for today’s highly regulated and rapidly changing industries. Our insights are based on in-depth analysis of global cleantech markets. The team’s research methodology combines supply-side industry analysis, primary end-user research, and demand assessment, along with an in-depth examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.

About Guidehouse

Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and address significant regulatory pressures focusing on transformational change, business resilience, and technology-led innovation. Across a range of advisory, consulting, outsourcing and digital services, we create scalable, innovative solutions that help our clients navigate complexity and position them for future growth and success. The company has over 15,000 professionals in over 55 locations worldwide. Guidehouse is a Veritas Capital portfolio company, led by skilled professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues that advance national and global economies. For more information, visit www.guidehouse.com.

* The information contained in this press release relating to the report, Market Data: Microgrids for Energy Access in Emerging Markets, It is a summary and reflects current expectations of Guidehouse Insights based on market data and trend analysis. Market forecasts and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please refer to the full report for a full understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or report.

For more information, contact:

Cecile Fradkin for the House of Guidance
+1.646.941.9139
cfradkin@scprgroup.com

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