Annual Renewable Distributed Energy Generation Installations Will Nearly Triple by 2017
The centralized model of power generation, transmission, and distribution is growing more and more costly to maintain at current levels, let alone expand to meet the rising electricity needs of growing populations. Despite being smaller in scale, renewable distributed energy generation (RDEG) sources such as distributed solar photovoltaics (PV), small wind power, and stationary fuel cells, with less need for transmission and little to no emissions, are uniquely positioned to disrupt this traditional paradigm. Distributed renewable installations today represent far less than one percent of total worldwide electricity generating capacity, but according to a new report from Pike Research, a part of Navigantâ€™s Energy Practice, they will expand rapidly over the next half-decade.
Annual worldwide installations of renewable distributed generation will nearly triple between 2012 and 2017, the report concludes, reaching 63.5 gigawatts (GW) a year in 2017. Nearly 232 GW of distributed renewable will be added over that five-year period.
â€œIn a growing number of cases around the world, renewable distributed generation technologies are more cost-effective than centralized installations that require transmission to population centers,â€ says research analyst Dexter Gauntlett.
In many ways, momentum is shifting to distributed, renewable sources that give consumers more control over the electricity they consume and generate. But in order to reach its full potential, the renewable distributed energy sector will require continued innovation in business models, technology development, utility participation, and investment in an uncertain economic climate.
The large majority of new installations will be solar photovoltaics. Solar PV manufacturers have delivered on their promise to drive down costs and scale up production. Worldwide solar PV module production capacity reached an estimated 50 GW by the end of 2011, according to the report, as module costs dropped from roughly $4.00 per watt in 2006 to $1.00 per watt in 2011. New solar PV additions will total 210 GW from 2012 to 2017, the report concludes.
The report, â€œRenewable Distributed Energy Generationâ€, explores the global market opportunity for RDEG technologies including distributed solar PV, small wind power, and stationary fuel cells. The report analyzes technology issues, demand drivers and barriers, and policy factors around the world that are influencing the adoption of RDEG technologies. The study includes an assessment of key industry players in each of the three major market segments, as well as detailed market forecasts through 2017 for installed capacity and revenue, segmented by world regions and major countries. An Executive Summary of the report is available for free download on the Pike Research website. www.solarthermalmagazine.com
Contact: Richard Martin
* The information contained in this press release concerning the report, â€œRenewable Distributed Energy Generation,â€ is a summary and reflects Pike Researchâ€™s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the reportâ€™s conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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