Global Microgrid Market is expected to reach US$ 45Bn by 2026 from US$ 20Bn in 2017 at CAGR of 10.67%.
A microgrid is a combination of technologies such as electricity generation, transmission and distribution and is used on a small scale as compared to the conventional macro grid. It performs functions, for instance, adding or removing new energy resources without modifying existing components. A microgrid is a localized group of electricity sources and sinks (loads) that usually operates connected to and synchronous with the traditional centralized grid, but can disconnect and maintain operation autonomously as physical or economic conditions dictate.
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