The recently emerged ‘Global Energy Interconnection’ initiative has offered growth opportunities toward the development of major interconnections, regionally and on an inter-continental scale to enable the massive growth in renewable energy technologies to meet the global energy demand. Microgrids are considered a reliable alternative wherever stable power supply is required. While estimating the carbon footprint of renewable energy, the feasibility of monitoring systems would be considered.
The report analyst commented "Declining costs of renewable energy technologies and battery storage, increased government commitment to universal electrification, and improving policy conditions is expected to drive the demand for micro-grid monitoring systems in the next few years."
Leading companies featured in the report who are developing microgrid monitoring technology include ABB Ltd., General Electric Company, Toshiba Corporation, Siemens AG, Schneider Electric SE, Hitachi Ltd., Mitsubishi Electric Corporation, Crompton Greaves Limited, Hyosung Corporation, Bharat Heavy Electricals Limited and Fuji Electric Co. Ltd.