BANGALORE, India | 28th July 2020: A virtual power plant is a cloud-based distributed power system that aggregates the capacity of heterogeneous distributed energy resources, such as wind farms, solar parks, and combined heat and power (CHP) units. The Virtual Power Plant is used to relieve the load on the grid by smartly distributing the power generated by each unit during peak load periods. The combined power generation and power consumption of the networked units in the Virtual Power Plant shall also be traded on the energy exchange.
The global virtual power plant (vpp) market size was valued at USD 1.3 Billion in 2019 and is projected to reach USD 5.9 Billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027.
Get Detailed Analysis of COVID-19 Impact on Virtual Power Plant Market:
https://reports.valuates.com/request/sample/ALLI-Auto-0M193/Virtual_Power_Plant_Market
TRENDS INFLUENCING THE VIRTUAL POWER PLANT MARKET SIZE
Growing penetration for renewable energy in the power generation sector, coupled with changes in power grid dynamics from centralized to distributed, is expected to drive the growth of the virtual power plant market size.
Furthermore, the decreases in energy prices and quick access to energy storage are expected to fuel the growth of the virtual power plant market size.
The virtual Power plant is more effective and versatile in delivering peak load electricity in a short notice time compared to a traditional power plant set-up. Flexibility in trading with virtual power plants attracted several new participants due to market volatility. On the exchange market, consumers can sell excess energy as well as buy energy at a lower price. These features are, in turn, expected to fuel up the demand for virtual power plant market size during the forecast period.
Strict government regulations on environmentally friendly power generation would further boost the renewable energy sector, thereby increasing the growth of the virtual power plant market size.
High frequency of electromagnetic and radio waves contributes to health problems in infants and the elderly, which could hamper this development.
View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-0M193/virtual-power-plant
VIRTUAL POWER PLANT MARKET SHARE ANALYSIS
The Industrial segments are expected to hold the largest Virtual Power Plant Market share in terms of revenue. The growing use of small and medium-sized Virtual Power Plants in industrial sectors would drive the growth of Virtual Power plant market size.
Based on region, Europe accounted for the largest Virtual Power Plant Market share due to the involvement of a large number of industry players and new government programs in different European countries with 100 percent renewable energy.
Asia-Pacific region is expected to witness the highest growth rates during the forecast period. This is due to the growing demand for energy in fast industrializing countries such as China and India.
The US is expected to lead the North American market and bear witness to the high demand for virtual power plants due to the rising demand for renewable energies.
Inquire for Regional Report: https://reports.valuates.com/request/regional/ALLI-Auto-0M193/Virtual_Power_Plant_Market
TOP COMPANIES IN THE VIRTUAL POWER PLANT MARKET
As compared with fossil fuel-based power generation, renewable energy is more costly. Countries across the globe are veering towards sustainable sources of power generation due to environmental conservation and increased awareness.
Though the market is distributed with many regional companies, major players dominate the Virtual Power Plant Market. Major players have adopted product launch, company expansion to maintain intense competition in the industry.
The top companies in the Virtual Power Plant Market include ABB Ltd., AGL Energy, AutoGrid Systems, Inc., Enbala Power Networks, Enel X Inc., General Electric Company, Siemens AG, Schneider Electric SE, Limejump Ltd., and others.
VIRTUAL POWER PLANT MARKET BY TECHNOLOGY
- Distribution Generation
- Demand Response
- Mixed Asset
VIRTUAL POWER PLANT MARKET BY END-USER
- Commercial
- Industrial
- Residential
Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-0M193&lic=single-user
Buy Now for Enterprise User: https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-0M193&lic=enterprise-user
SIMILAR REPORTS :
- Distributed Generation Market Report
The global Distributed Generation market size is projected to reach USD 62970 Million by 2026, from USD 58830 Million in 2020.
The growth of Distributed Generation Market size is attributed to the growing global demand for energy, reducing solar power costs, and increasing efforts to reduce global greenhouse gas emissions.
The Distributed Generation Market report analyzes the market strategically with respect to individual growth patterns, future prospects, and each segment’s contribution to the market.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-24B1752/global-distributed-generation
- Smart Demand Response Market Report
The global Smart Demand Response market size is projected to reach USD 23390 Million by 2026, from USD 19690 Million in 2020.
Advances in technology in the utilities vertical combined with the implementation of regulatory structures are expected to increase the growth of Smart Demand Response Market size.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1Z323/smart-demand-response
- Microgrid Market Report
In 2018, the global Microgrid market size was USD 11401.55 Million, and it is expected to reach USD 30049.32 Million by the end of 2025, with a CAGR of 14.75% between 2019 and 2025.
The major drivers for the growth of Microgrid Market size are growing demand for renewable energy, increasing instances of cyberattacks on energy infrastructure, increasing demand for reliable and stable global power supply, and increasing global microgrid deployment for rural electrification.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-19135/global-microgrid
- Smart Grid Market Report
The smart grid market size was valued at USD 66.96 Billion in 2017 and is projected to reach USD 169.18 Billion by 2025, growing at a CAGR of 12.4% from 2018 to 2025.
Growing environmental issues and increasing the implementation of smart grid technology to boost energy conservation and usage efficiency are the main factors that drive the growth of the smart grid market size. Additionally, promoting government policies & legislation to use smart meters and increasing investments in digital electricity infrastructure are key factors driving market development.
View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-2M364/smart-grid
- Smart Electric Meters Market Report
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-19Z1591/global-smart-electric-meters
- Battery Energy Storage Systems Market Report
This report focuses on Battery Energy Storage Systems volume and value at the global, regional, and company levels. From a global perspective, this report represents the overall Battery Energy Storage Systems market size by analyzing historical data and future prospects.
Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-11Z2915/covid-19-impact-on-battery-energy-storage-systems
- Demand Response Management System (DRMS) Market Report
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1I322/demand-response-management-system
