Renewable Energy Integration with Smart Grid Market Analysis and Forecast up to 2023

1. Renewable Energy Integration with Smart Grid Market Size will Observe Lucrative Surge by the End 2025 Network of sub stations, transformers and electrical transmission lines constitutes a conventional electric grid which delivery electricity to domestic and industrial needs. Rapid industrialization and population growth resulted in peak load conditions causing failure of grid mechanism. The grid is not designed to accommodate power from various sources such as wind and solar energy. These renewable energy sources provides fluctuating power to grid and if high power is supplied results in failure. So integrating these renewable energy sources with grid operations is becoming difficult due to lack of consistency in delivering power. A need for highly reliable, compact, self-regulating smart grid system which will accommodate and adjust to fluctuating power automatically. Smart grid plays a critical role in integration of various renewable energy. Smart grid is a sum of high quality information, sensing, communication, control and technologies. If taken together results in electric power system that can efficiently integrate the job of all connected users. Planning to lay down strategy for the next few years? Our report can help shape your plan better. Operational efficiency, optimized voltage and power quality has improved through the use smart grid systems in renewable energy integration. There are some technical, regulatory, policy, economic challenges related to smart grid usage for renewable energy integration. The main driver which favors renewable energy integration with smart grid is the rapid industrialization and population growth which demands more power without any breakdown or failure. Balancing supply and demand during surplus conditions are one of the technical challenges for this type of system. Economic challenges are returns on investments. More returns in such projects would favor more investments and vice-versa. The basic classification is done based on the type of renewable energy used for integration with smart grid technology such as wind, hydroelectric, biomass, geothermal, solar. This system has very low efficiency when compare to fossil fuels generation. Technological improvement and research and development activities are being looked upon to enhance the overall efficiency of this system. Wind and solar energy delivers more efficiency when compared to other renewable energy

2. sources. Wind and solar energy integration with smart grid would deliver more overall efficiency. North America is the leader in this segment followed by Europe and Asia. U.S. and Canada holds the largest share for renewable energy integration technologies with smart grid. Over the last seven years, Sweden has added significant grid connected wind power systems. Korea is developing in terms of adding smart grids for renewable energy deployment. Various pilot projects in Austria is under process which has significant potential for wind, solar, hydro power deployment through smart grids. California and Canada are investing on better technologies for better network distribution planning and operations for growing demand for renewable energy sources. India is integrating solar and wind energy for smart grid platform. Rapid industrialization and population growth rate requires more power, China and India are the key markets for renewable energy integration system using smart grid. To obtain all-inclusive information on forecast analysis of global Renewable Energy Integration with Smart Grid Market t , request a PDF brochure here. Companies involved in smart grid for renewable energy integration are Chevron Corporation, GE Energy Management, Echelon Corporation, Schneider Electric, Siemens AG, Viridity Energy, ZBB Corporation, ABB Limited, Power Analytics Corporation, Honeywell International, Inc., Toshiba Corporation, Pareto Energy Ltd. and others. About Us Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports.

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