The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Virtual Power Plant Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Virtual Power Plant Industry (2023-2028):
According to the latest report, The Virtual Power Plant Market is projected to grow at a CAGR of around 27.68% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Virtual Power Plant industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-28
- CAGR: 27.68%
What are the major Driver the Virtual Power Plant industry?
Growing Inclination Toward Distributed Power Generation – The surging demand for virtual power plants with distributed generation technology owing to its cost-effectiveness, coupled with favorable government regulations & policies toward encouraging the deployment of renewable technologies, are the prime aspects driving the global market through 2028. Further, decentralized power generation helps provide electricity when there are power outages & high-energy requirements. Hence, several countries, ambitious to reach clean energy targets, are increasingly investing in & installing virtual power plants powered with this technology.
Moreover, the mounting focus of various countries on reducing carbon emissions & promoting electrification, entwined with numerous advancements in power generation & storage technologies, is also propelling the adoption of distributed generation.
Download a sample PDF of this report to gain insights into the complete report structure – https://www.marknteladvisors.com/query/request-sample/virtual-power-plant-market.html
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Virtual Power Plant Market Segmentation
The Virtual Power Plant Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Source
- Renewables
- Energy Storage
- Cogeneration
- By Based on Components
- Distributed Energy Generation Systems
- Energy Storage systems
- Information Communication Technology (ICT)
- By Based on Models
- Demand Response (DR)
- Supply-side
- Mixed-asset
- By End Users
- Residential
- Industrial
- Commercial
- By Region
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
As per the regional aspect, the Virtual Power Plant Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report – https://www.marknteladvisors.com/research-library/virtual-power-plant-market.html
Top Companies in the Virtual Power Plant Market
ABB Ltd, AutoGrid Systems, Advanced Microgrid Solutions, Inc., CISCO Systems Inc., Enbala Power Networks Inc., Enel X North America Inc., General Electric Itron Inc., Hitachi Ltd, Mitsubishi Electric Corporation, Next Kraftwerke, Siemens AG, Schneider Electric, Tesla Inc., and other
Global Virtual Power Plant Market Recent Development
In June 2023, Tesla Inc. announced its plans to offer virtual power plant programs for Powerwall customers in Texas and Puerto Rico.
In February 2023, SolarEdge Technologies, Inc. announced the launch of its first Battery Virtual Power Plant supporting Great Britain’s National Grid ESO DFS (Demand Flexibility Service), i.e., available to thousands of SolarEdge Home Battery owners across Great Britain with eligible smart meters, who can now earn financial incentives utilizing their stored battery energy during DFS peak demand events.
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