Seeing opportunity in times of crisis, microgrid technology suppliers positioned for growth
Tailwinds are coming in strong
Cannabis production in geographic areas with some of the greatest exposure to extreme weather-related disasters are also the territories where energy resilience will prevail.
Navigant Research forecasts total global spending on microgrid projects to roughly quadruple to more than $40 billion per year in the next decade.
US regulators are implementing key new initiatives, including new laws in California and the U.S. Caribbean commonwealth of Puerto Rico, passed in the wake of firestorms and hurricanes, respectively. Additional initiatives are under way in Colorado, Georgia, Hawaii, Massachusetts, Maine, New York, North Carolina and Washington, D.C. Along with state and local laws, market demand for enhanced resiliency in the face of disasters is also driving purchasing decisions. The Southeast, for instance, led U.S. regions in 2018 without state incentives, according to Maze-Rothstein.
Zam Energy is working with many partners who either have critical loads protected with cogeneration, solar and battery, and/or biothermsolutions, with plans for total off-grid energy centers in the works to build resiliency and protect profit erosion from substation inconsistency. High risk exposure is a stark reality to the indoor warehouse cannabis production industry that cannot afford to have operations off-line, such as lighting shut down, which can cause widespread crop loss worth millions of dollars of lost revenue.