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Virtual Power Plant Market Latest Innovations, Drivers, Dynamics And Strategic Analysis, Challenges
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Demand response has been recording the highest share in the virtual power plant market, due to its lower development cost and higher operational efficiency. The technology also offers incentives to customers in the form of lower electricity bills in case the customers alter their electricity consumption during peak hours.
In terms of value, electric vehicles is expected to be the fastest growing consumer category in the virtual power plant market. The growing focus on the usage of pollution-free vehicles is boosting the demand for these vehicles in North America and Europe.
Globally, North America has been leading the global virtual power plant market in terms of value, with an estimated share of more than 40% in 2017. The U.S. and Canada are focusing more on the promotion of clean energy sources including wind, solar, and other renewable sources of electricity.
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Some of the major players operating in the global virtual power plant market are Enbala Power Networks, AutoGrid Systems Inc., Sunverge Energy Inc., AGL Energy Limited (AGL), Limejump Ltd, EnerNoc Inc., ENGIE Storage Services NA LLC, ABB Ltd., Schneider Electric SE, and Siemens AG.
GLOBAL VIRTUAL POWER PLANT MARKET SEGMENTATION
By Technology
Demand Response
Supply Side
Mixed Asset
By Consumer
Industrial
Commercial
Residential
Electric Vehicles
By Region
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Rest of Europe
Asia-Pacific (APAC)
China
Japan
Australia
South Korea
Rest of APAC
Latin America (LATAM)
Brazil
Mexico
Rest of LATAM
Middle East and Africa (MEA)
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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