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Virtual Power Plant Market Anticipate Rapid Growth with 22% of CAGR By Forecast 2023

Author: Market Research Report
by Market Research Report
Posted: May 23, 2018

Market Scenario:

The unified units are dispatched through the principal control room of the virtual power plant but stays self-governing in their process and possession. The prime objective of the virtual power plant is to release the load on the grid by rapidly dispensing the power produced by the individual units during the peak load. Additionally, the combined power generation and power consumption of the interacted units in the virtual power plant is merchandised on the energy interchange platforms.

A virtual power plant is comprised of a fundamental IT control structure and distributed energy assets often renewable energy resources like solar, hydropower, wind and biomass units as well as flexible power consumers, by interacting all the partaking units via a remote control unit. It then establishes a data transfer between the fundamental control system and the and the partaking units. The fundamental control system is then unable to monitor, forecast, and dispatch the networked units.

Key Players

ABB Ltd. (Switzerland), Autogrid Systems, Inc. (U.S.), Blue Pillar, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Comverge (U.S.), Cpower Energy Management (U.S.), Enbala Power Networks, Inc. (Canada), Enernoc, Inc. (U.S.), Flexitricity Limited (U.K.), General Electric Company (U.S.), Hitachi, Ltd. (Japan), International Business Machines Corporation (U.S.), Robert Bosch GmbH (Germany), Schneider Electric SE (France), and Siemens AG (Germany).

Scope of the Report

This study provides an overview of the global virtual power plant market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the virtual power plant market by its technology, by end-user and by region.

Market Research Analysis

Demand response and Industrial segment is expected to grow at the highest CAGR and have the largest market share.

Global Virtual Power Plant market has been segmented based on technology, end-user, and region. Demand response segment by technology currently holds the largest share and is expected to hold its dominance in the virtual power plant market during the forecast period. Demand response is highly lucrative for investment due to everlasting benefits for end-users and improving the energy efficiency of the grid. Hence, demand response is expected to show high growth rate. However, the industrial, by end-user held the largest market share in 2016 and is expected to hold the largest share over the forecast period.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/virtual-power-plant-market-5583

About the Author

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Author: Market Research Report

Market Research Report

Member since: Mar 19, 2018
Published articles: 85

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