Microgrid Market Top Driving Factors- Forecast 2022
The Microgrid Market is significantly driven by the use of localized sources for power generation, fewer line losses and the increasing popularity of microgrids in commercial, military and industrial applications. The launch of dozens of successful pilot programs globally, declining costs of photovoltaic (PV) materials and scarcity of electricity in developing countries are creating opportunities for the microgrid market. Key players in this market are Pareto Energy Ltd., Viridity Energy, Encorp Inc., and Power Analytics Corp.
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