Distributed Energy Generation Systems Market Forecast - 2018
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This in turn has fuelled energy demand. DEG systems are gaining popularity owing to its beneficial properties. They play a crucial role in catering the rising energy demand. The DEG systems are more economical, safer and eco friendly compared to conventional energy generation systems. Insufficient power supplied by centralized power systems coupled with their rising prices are expected to lay groundwork for the DEG systems market.
Insufficient centralized electricity supply, paradigm shift in energy generation towards green technology, increased awareness towards carbon footprint reduction coupled with revised FIT (Feed in Tariff) rates are expected to spur the market growth. Furthermore, the high cost of the raw materials act as a major barrier to the market. However, price decline in coming years is expected to overcome the restraint. Depleting fossil fuel coupled with their rising prices impacts the cost of energy generation.
CHP (Combined Heat and Power) and solar PV technology segments are major contributors to the DEG systems market which is followed by wind turbines, microturbines and fuel cell segments. Today’s renewable systems are cost competitive and the most economic option for off-grid electrification. Low prices are likely to open new opportunities for the market which has helped reach grid parity quickly in this high priced electricity markets. The 2004/8/EC directive was developed by the European Commission (EC) in 2004 to trim down emissions (greenhouse gases) and support cogeneration systems. This promotes DEG systems market that contributes positively to the security of energy supply.
Currently DEG systems are widely preferred over the conventional power generating systems due to substantial loss of energy over transmission lines. The grid connected systems dominated the market in 2011 while the off grid systems are rapidly growing segments due to growing energy demand in areas without grid connection network.
Europe dominated the market owing to the glut of investments made by manufacturers and financial support provided by government. Europe acquired maximum market share which was followed by Asia Pacific and North America. Europe and Asia Pacific are the prominent centers for DEG. Asia Pacific market is expected to grow significantly chiefly due to the availability of cheap labor and financial incentive schemes minimizing the production cost. Capstone has a strong presence in Asia Pacific supplying microturbines. The abundance of solar radiation and wind power is expected to spur the market growth in Europe and MEA (Middle East and Africa).
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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