Dublin, July 22, 2020 (GLOBE NEWSWIRE) — The “Virtual Power Plant Market by Technology and by End User: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering. The global virtual power plant market was valued at $1.3 billion in 2019, and is projected to reach $5.9 billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027.Virtual power plant, an aggregated decentralized power plant, consisting of decentralized power systems with the purpose to integrate different distributed energy sources such as solar PV cells, wind turbines, and hydroelectric plants. Additionally, virtual power plant offers efficient power generation even at peak load periods with a scope to trade or sell power in trading market. Virtual power plant is medium scale power generating unit integrating different renewable energy sources for solar, wind and other flexible power consumers and storage systems. A virtual power plant consists of different mixed assets that are connected via central control system processing wide range of information, such as current prices at the power exchange, price and weather forecasts, and grid information of the system operators.Growing penetration for renewable energy in power generation sector coupled with shifting trend of power grids from centralized to distributed is expected to drive the market growth. Further reduction in energy cost and easy accessibility of energy storage will boost the market demand. For instance, Tesla reported in their recent virtual power plant project 70% decrease in grid consumption, while bills have been reduced by up to 30%. Additionally, VPP is highly efficient and flexible to deliver during the peak load electricity in a short notice period compared to conventional power plant set up that will further drive the market growth. Flexibility in trading with virtual power plant due to price volatility attracted lot of new participants. Customers can sell excess energy at trade market as well as buy energy at lower price. Such features of virtual power plant is expected to further fuel the demand. However, high-frequency of electromagnetic and radio waves leads to health concerns in infants and old people, which may hamper this growth. Nonetheless, stringent government regulations regarding eco-friendly power generation will further enhance the market for renewable energy, thus fueling the demand for virtual power plant market.The global virtual power plant market is segmented based on technology, end user, and region. Based on technology, it is categorized into distribution generation, demand response, and mixed asset. Based on end user, it is divided into commercial, industrial, and residential. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.Major players have adopted product launch, business expansion, and partnerships 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.Key Benefits
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Key Topics Covered:Chapter 1: IntroductionChapter 2: Executive Summary2.1. Key Findings of the Study2.2. CXO PerspectiveChapter 3: Market Landscape3.1. Market Definition and Scope3.2. Key Findings3.2.1. Top Investment Pockets3.2.2. Top Winning Strategies3.2.3. Top Winning Strategies3.3. Porter’s Five Forces Analysis3.4. Market Share Analysis & Top Player Positioning, 20193.4.1. Top Player Positioning, 20193.5. Market Dynamics3.5.1. Drivers3.5.1.1. Rise in Demand for Renewable Energy in Power Generation Sector3.5.1.2. Changes in Dynamic of Power Grids from Centralized to Distributed3.5.1.3. Moderating Costs and Easy Accessibility of Energy Storage3.5.2. Restraint3.5.2.1. Limited Options for Complex Design Structure3.5.2.2. Health Concerns Over High-Frequency Human Exposure of Electromagnetic and Radio Waves3.5.3. Opportunity3.5.3.1. Emerging Shift Towards Electric Vehicles and Promotion of Intelligent Office Buildings and Smart Grids3.6. Impact of Covid-19 Outburst on the Virtual Power Plant MarketChapter 4: Virtual Power Plant Market, by Technology4.1. Overview4.1.1. Market Size and Forecast4.1.2. Distribution Generation4.1.2.1. Key Market Trends, Growth Factors, and Opportunities4.1.2.2. Market Size and Forecast, by Region4.1.3. Demand Response4.1.3.1. Key Market Trends, Growth Factors, and Opportunities4.1.3.2. Market Size and Forecast, by Region4.1.4. Mixed Asset4.1.4.1. Key Market Trends, Growth Factors, and Opportunities4.1.4.2. Market Size and Forecast, by RegionChapter 5: Virtual Power Plant Market, by End-user5.1. Overview5.1.1. Market Size and Forecast5.1.2. Industrial5.1.2.1. Key Market Trends, Growth Factors, and Opportunities5.1.2.2. Market Size and Forecast, by Region5.1.3. Commercial5.1.3.1. Key Market Trends, Growth Factors, and Opportunities5.1.3.2. Market Size and Forecast, by Region5.1.4. Residential5.1.4.1. Key Market Trends, Growth Factors, and Opportunities5.1.4.2. Market Size and Forecast, by RegionChapter 6: Virtual Power Plant Market, by Region6.1. Overview6.2. North America6.3. Europe6.4. Asia-Pacific6.5. LAMEAChapter 7: Competitive Landscape7.1. Introduction7.2. Product Mapping of Top 10 Players7.3. Competitive Heatmap7.4. Key Development7.4.1. Business Expansion7.4.2. New Product7.4.3. PartnershipChapter 8: Company Profiles8.1. Abb Ltd.8.1.1. Company Overview8.1.2. Company Snapshot8.1.3. Product Portfolio8.1.4. Business Performance8.1.5. Key Strategic Moves and Developments8.2. AGL Energy Limited8.3. Autogrid SysteMS, Inc.8.4. Enbala Power Networks8.5. Enel X, Inc.8.6. General Electric Company8.7. Limejump Energy Ltd.8.8. Schneider Electric Se8.9. Siemens AG8.10. Sunverge Energy Inc. For more information about this report visit https://www.researchandmarkets.com/r/o42kvu
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