Policy and Regulation
World over, countries have set targets for the increase of renewable energy and reduction of greenhouse gas emissions. The attempt to curb climate change is a strong marker for renewables
Security of supply
As traditional fossil fuelled generation plants are reaching end of life, and with the increased realization that oil is a finite resource, countries need to find new sources to meet growing energy demands. Implementing and managing multiple energy sources, including renewable generation, helps to maintain energy security. Furthermore, local management of Distributed Energy Resources reduces supply chain risks associated with traditional energy sources
Funding Flow
There is a boon in funding for renewable energy projects, specifically to propagate mini-grids, especially for off-grid communities. New entrants from outside the traditional energy industry are coming into the market. New commercial models are emerging as well, including peer to peer energy transactions.
Backup Action
When industrial and manufacturing companies lose power, it can cost millions of dollars in down-time, waste and equipment damage. Implementing distributed energy resources enable industrial customers to continue operating even if the main grid is down.
