Microgrids are about to be the best thing invented for humanity, primarily since they serve well during a blackout. One of the features that the technology is known for is detaching itself from the main power supply and acting as an island whenever there is a power blackout. It is also widely known for assimilating the distributed renewables into the much-needed utility scale resources. Most international corporations like the UN have already established these grids as the new path that will help out the developing worlds when it comes to providing access to energy on a universal scale. All manufacturing businesses should look into this opportunity, and below are the top reasons why:
1) Tax Credit
The government is now providing tax credits for all the companies that use microgrids. This especially applies to those that use solar. Unlike tax deductions, credits are far much better since your company can use them to pay other federal taxes that it owes IRS. To learn more about the incentive one can read through solar tax credits FAQ online. You are advised to check it out and research about all the benefits that come with it. This tax credit offer was extended to the end of 2019 but stands a chance of going on even longer.
2) It Will Make A Big Impact In The Near Future
The IEA approximates the utilization of 48 US million dollars to achieve universal energy access. 10 percent of this goes to remote microgrid space, affecting things like household lights and phone chargers. If a company decides to go the microgrid way, it can effectively reduce the cost it uses annually on electricity. Microgrid systems are estimated to make over 40 percent changes in the developing world’s’ economy. By implementing microgrids in these countries, new opportunities will emerge for companies. Microgrids will soon be replacing investments made in coal plants or centralized nuclear plants.
3) Industrial Giants Are Already Shifting To It
Large companies are focused on microgrids using both software and hardware solutions. Companies such as ABB, Honeywell, Siemens, and Eaton are amongst the first ones to seriously look into the innovation. They are using it as a natural evolution of the traditional smart grid. In the coming decade, the prediction is that most corporations will catch up with it.
4) Electric Utilities Will Reinvent Themselves
The initial plan of the electric utility grid was to expand its resources and make sure that microgrids are included. However, standard engineering protocols were applied and made this impossible. At this point, the microgrids will help the electricity firms do better, especially those owned by clients themselves. Since the climate change effects are already being felt, the best way for a company to reinvent its energy management solutions is by increasing its energy security. The best economical way to achieve this is by implementing microgrids.
5) Demand Response
The best thing about microgrids is that they will reduce the pollution by fossil fuels. There is a lot of pressure to supply electricity, which is already scarce to a big population. Consumption is always high when the power costs are at its peak. Microgrids will reduce this limitation by reducing the consumption of electricity at this precise moment.