Microgrids an Important Piece of the Puzzle for Energy Access in Frontier Markets
Monday, May 21, 2018
By Nitin Kabeer
Microgrids are becoming important part of the frontier power markets for distributed energy systems. Advances in technology such as energy storage along with rising diesel prices, and favorable government policies have enabled an environment to support the economics of small-scale clean energy systems according to the second quarter Frontier Power Market Outlook report by BNEF.
India allocated $740 million for village electrification in its 2017-18 budget, the report noted. It was an increase by 8.6 percent to $835 million for Ministry of New and Renewable Energy (MNRE). India has set a target to build at least 10,000 microgrids and mini-grids using renewable technology across the country by 2021 with a total of 500 MW capacity under its National Microgrid Policy.
Similarly, many other emerging economies in Latin America, Africa, and Asia are seeing an upsurge in market fundamentals that support clean energy systems.
Photo courtesy of Pixabay.com.