According to a recent report by Navigant Research, the research arm of Navigant Consulting Inc. (NCI - Analyst Report) , annual revenue from microgrids used for military bases, both stationary and forward operating bases (FOB’s), is set to aggregate $377.8 million by 2018.
Microgrids are a group of loads interconnected with each other and act as a single controllable entity. Microgrid helps in managing energy demand-supply and reduces the amount of fossil fuel required to generate electricity. It is also useful in integrating renewable energy resources for military installations and facilitates military bases to continue operations, regardless of the load on the larger utility grid.
Microgrids have an important application for the U.S. Department of Defense (DOD) within the microgrid sectors: stationary bases, forward operating bases, and mobile systems. According to the research report, DOD’s extensive usage of almost all forms of fossil fuels will increase its demand for microgrid technology, which in turn will help its ability to save power.
The report also suggests that microgrids are increasingly gaining in popularity and are currently being deployed by around two dozen military facilities in the U.S.
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Navigant currently carries Zacks Rank #2 (Buy). Some other stocks within the consulting industry worth mentioning are Information Services Group, Inc. (III - Snapshot Report) , carrying a Zacks Rank #1 (Strong Buy), and Exponent Inc. (EXPO - Snapshot Report) and Huron Consulting Group Inc. (HURN - Snapshot Report) , each carrying a Zacks Rank #2 (Buy).