Virtual Power Plant Market Scenario and Other Analytical Data to Understand the Market.
Global Virtual Power Plant Market Highlights:-
Virtual power plants consist of three main components, distributed energy resources, energy storage systems and information and communication technologies. Distributed energy can be either distributed generators or controllable loads connected to the network. Energy storage systems and its elements play a vital role in bridging the gap between the generation and demand, specifically in the presence of high diffusion of stochastic generation. The energy management system (EMS) signifies the soul of the information and communication system. It accomplishes the process of other virtual power plant components through communication technologies in bidirectional ways.
The global rise in the demand for renewable energy in the power generation sector is creating a lucrative market for virtual power plant. The dynamic changes in the power grids from centralized to distributed, also the reduced cost of the electricity and easy access to store energy in energy storage devices such as batteries is propelling the global virtual power plant market. However, the growing health concerns over the human exposure to high frequency of electromagnetic and radio waves is restraining the potential of market growth at different end-user level. Contrarily, the emerging shift toward electric automobiles and promotion of smart offices and buildings with smart grids, is expected to create an immense opportunity in the global virtual power plant market.
Industry Top Key Players:-
The key players of global Virtual Power Plant market are 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
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Global Virtual Power Plant Market Analysis:-
The growth of virtual power plant market is driven by various factors in regions, across the globe. The major factor boosting the market growth is the growing demand for power through a reliable power source is expected to drive the global industry over the forecast period. Virtual power plant helps in delivering energy peak usage times and the end-users can save up the excess energy in the energy storage devices such as batteries. Also the growing government mandates and initiatives for customer engagement, and incentives programs might prove to be an added boost for the end-user segment. The global rise in the demand for non-conventional energy in the power generation sector, changes in dynamics of power grids from centralized to distributed, and regulating costs and easy convenience of energy storage drive the development of the virtual power plant market. The phenomenal growth in the construction industry, exclusively in the Asia Pacific region is expected to propel the overall virtual power plant market during the forecast period.
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