Press release
Virtual Power Plant Market Size is Projected To Reach USD 5.9 Billion By 2027 At A CAGR Of 21.3% - Valuates Reports
The virtual power plant market is expected to rise due to rising renewable energy penetration in the power generation sector, as well as shifts in power grid dynamics from centralized to distributed. The consumer demand will be boosted by further reductions in energy costs and the ease with which energy storage can be accessed.
A virtual power plant is a set of distributed generators with the aim of integrating various distributed energy sources such as biomass plants, biogas block heating plants, wind turbines, and hydroelectric plants.
A virtual power plant is made up of various assets that are linked together by a central control system that processes a wide range of data, including current power exchange rates, price and weather forecasts, and grid information from system operators.
Virtual Power Plant Market Driving Factors Trends
The Virtual Power Plant Market is expected to increase due to rising demand for renewable energy in the power generation sector, as well as shifts in power grid dynamics from centralized to distributed.
Furthermore, compared to traditional power plant setup, Virtual Power Plant is more effective and versatile in delivering peak load electricity in a short notice timeframe, which will further drive Virtual Power Plant market growth.
Due to market fluctuations, the flexibility in trading with virtual power plants attracted a large number of new participants. Customers can sell excess energy and buy energy at a lower price on the trade market. Such characteristics are expected to further fuel the virtual power plant market.
Government policies requiring environmentally friendly power generation would boost the market for renewable energy, boosting demand for virtual power plants.
Major players have adopted product launch, business expansion to sustain the intense market competition. The key players profiled in the report 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.
View Full Report:
https://reports.valuates.com/market-reports/ALLI-Auto-0M193/virtual-power-plant
Market Key Developments
ABB Ltd.- ABB Ability™ solutions for utilities allow better prices for produced energy on the spot and derivatives markets, as well as optimized internal production. They also enable a lower cost of energy compensation and an improved fulfillment of the nominated load schedule. Balancing the infeed of renewables before balancing costs are generated is also made possible. The system architecture is scalable, from a few up to many thousands of units, and customers can implement their own business model.
Siemens AG - Siemens AG offers innovative technologies, extensive energy experience, and an ambitious strategy to decarbonize global energy systems and drivers of the energy transition. Siemens AG's top focus areas are in ESG, innovation, and transformation share how we're making the future of tomorrow different
today for both our partners-and our people.
Schneider Electric SE - Schneider Electric SE is a European multinational company providing energy and digital automation solutions for efficiency and sustainability. It addresses homes, buildings, data centers, infrastructure, and industries, by combining energy technologies, real-time automation, software, and services.
Key Benefits for Stakeholders
-The global Virtual Power Plant market analysis covers in-depth information of major industry participants.
-Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
-Major countries have been mapped according to their individual revenue contribution to the regional market.
-The report provides an in-depth analysis of the global Virtual Power Plant market forecast for the period 2020-2027.
-The report outlines the current virtual power plant market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
-The key drivers, restraints, and virtual power plant market opportunity and their detailed impact analysis is elucidated in the study.
Virtual Power Plant Market by Technology
-Distribution Generation
-Demand Response
-Mixed Asset
Virtual Power Plant Market by End-User
-Commercial
-Industrial
-Residential
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https://reports.valuates.com/request/regional/ALLI-Auto-0M193/Virtual_Power_Plant_Market
Virtual Power Plant Market by Region
-North America
-Europe
-Asia-Pacific
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https://reports.valuates.com/request/sample/ALLI-Auto-0M193/Virtual_Power_Plant_Market
Major Players in the Virtual Power Plant Market
-ABB Ltd.
-AGL Energy
-AutoGrid Systems, Inc.
-Comverge, Inc.
-Enbala Power Networks
-EnerNOC, Inc.
-General Electric Company
-Siemens AG
-Schneider Electric SE
-Limejump Ltd.
Inquire for Chapter Cost:
https://reports.valuates.com/request/chaptercost/ALLI-Auto-0M193/Virtual_Power_Plant_Market
Inquire for Customization:
https://reports.valuates.com/request/customisation/ALLI-Auto-0M193/Virtual_Power_Plant_Market
SIMILAR REPORTS:
Global Distributed Generation Market Size, Status and Forecast 2020-2026 - https://reports.valuates.com/market-reports/QYRE-Auto-24B1752/global-distributed-generation
Global Smart Demand Response Market Size, Status and Forecast 2021-2027 - https://reports.valuates.com/market-reports/QYRE-Othe-1Z323/smart-demand-response
Global Microgrid Market Insights and Forecast to 2028 - https://reports.valuates.com/market-reports/QYRE-Auto-19135/global-microgrid
Smart Grid Market - https://reports.valuates.com/market-reports/ALLI-Auto-2M364/smart-grid
Global Smart Electric Meters Market Research Report 2020 - https://reports.valuates.com/market-reports/QYRE-Auto-19Z1591/global-smart-electric-meters
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