Super Grid Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecast 2014 - 2020
Increasing global demand for energy is anticipated to accelerate
growth in the global super grid market. Renewable energy sources are
abundant, emission-free and have a large potential to lead to a low
carbon future. However, these energy sources are located far from the
cities and these increases the distance of transmission lines to
carry power from remotely located renewable energy sources to
distribution lines. Increasing need to integrate remotely located
renewable energy sources to the conventional grid is one of the major
drivers of growth in the super grid market.
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Super grid is a technology that allows transmission of power in high
volume over long distances. They are sometimes also referred to as
“mega grid”. Advancement in technologies is expected to augment
growth in the super grid market. The conventional grid infrastructure
in most of the countries across the globe is ageing and needs
modernization. Moreover, a need to improve energy security of the
grid further increases demand for a more secure grids.
The above mentioned factors are anticipated to play a key role in
growth of the super grid market. A lack of large-sized circuit
breakers having a capability to handle extreme voltages for transfer
of power to remote locations has been one of the major barriers for
development of schemes designed to harvest power generated from
solar, offshore wind farms, remote hydroelectric plants. Development
of heavy-duty circuit breakers shall allow integration of remote DC
output in conventional grids which are generally based on alternating
current (AC) systems. Transmission of power using high voltage direct
current (HVDC) cables will enable linking of grid at country and
regional level. Significant government spending in grid-scaling using
HVDC transmission coupled with numerous numbers of planned projects
using HVDC cables are expected to propel growth in the super grid
market.
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Apart from the above factors, a super grid is expected to accelerate
deployment of distributed renewable energy generation sources. This
is likely to reduce transmission losses, which further reduces
electricity cost and leads to increased competitiveness. Rising cost
of raw material and delayed licensing procedures for
commercialization of these technologies may hamper growth in the
global super grid market. However, with rapid technological advances
and increasing government interest in the deployment of these
technologies to expand their transmission and distribution
infrastructure, the market is likely to grow at substantial rates in
the future. The above factors are likely to offset the restraints of
growth in the market.
The installation of super grid will require
high investment in transmission infrastructure and will lead to
several operational challenges for the grid such as management of
large flows of energy and maintenance of the grid. However,
considering the advantages of renewable energy resources integration,
lower transmission losses and lower electricity cost, investments in
efficient national transmission grid could prove beneficial for
countries across the globe.
Regionally, the market can be segmented by geographies such as North
America, Europe, Asia Pacific, and Rest of the World (RoW). North
America, especially the U.S. is one of the largest markets for the
super grid. Projects such as Tres Amigas converter station and others
with a basic purpose to connect Western, Rasyern, and the ERCOT
electric grid are some of the notable super grid (HVDC) projects in
the U.S. Currently, in Europe, an organization named Friends of
Supergrid is devising a long-term plan to connect Europe and North
Africa using highly efficient transmission infrastructure is likely
to play a key role in development of the market in the Europe.
Developments of super grid and investment in HVDC are further likely
to support Europe’s renewable energy goals 2030. In Asia Pacific,
countries such as Japan, China, and India have shown considerable
interest and invested in the HVDC transmission.
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