Virtual power plants aim at the smoothly integrating a large number of non-conventional energy units into the existing central energy systems. It occurs through flexibility coming from all networked units. Moreover, the power vendors within a virtual power plant setup can use live data to enhance projecting and trading of renewable energies. As a result, virtual power plants progressively take over the role of the conventional power plants by selling their output on the wholesale markets and assuming authority for a balanced grid.
The most recent virtual power plant concept has various definitions that agree upon the fact that the virtual power plant is an aggregation of distributed generation units of different technologies. This is required operate as a single power plant and has the ability to control the aggregated units and to manage the electrical energy flow between these units to obtain better operation of the system.
A virtual power plant is comprised of a fundamental IT control structure and distributed energy assets often renewable energy resources like solar, hydropower, wind and biomass units as well as flexible power consumers, by interacting all the partaking units via a remote control unit. It then establishes a data transfer between the fundamental control system and the and the partaking units. The fundamental control system is then unable to monitor, forecast, and dispatch the networked units.
INDUSTRY TOP KEY PLAYER:-
- ABB Ltd.
- Autogrid Systems, Inc.
- Blue Pillar, Inc.
- Cisco Systems, Inc.
- Cpower Energy Management
- Enbala Power Networks, Inc.
- Enernoc, Inc.
- Flexitricity Limited
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VIRTUAL POWER PLANT MARKET SEGMENTATION:-
Global Virtual Power Plant market has been segmented based on technology, end-user, and region. Demand response segment by technology currently holds the largest share and is expected to hold its dominance in the virtual power plant market during the forecast period. Demand response is highly lucrative for investment due to everlasting benefits for end-users and improving the energy efficiency of the grid. Hence, demand response is expected to show high growth rate. However, the Industrial by end-user held the largest market share in 2016 and is expected to have the largest share over the forecast period.GLOBAL SELF-HEALING GRID MARKET 2018-2023
SCOPE OF THE REPORT:-
This study provides an overview of the global virtual power plant market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the virtual power plant market by its technology, by end-user and by region.
- By Technology
- Distribution Generation
- Demand Response
- Mixed Asset
- By End-User
- By Regions
- North America
- Asia Pacific
- Rest of the World
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Market Research Analysis;-
Global Virtual Power Plant Market
The growth of virtual power plant market is driven by various factors in regions, across the globe. The major factor boosting the market growth is the growing demand for power through a reliable power source is expected to drive the global industry over the forecast period. Virtual power plant helps in delivering energy peak usage times and the end-users can save up the excess energy in the energy storage devices such as batteries. Also the growing government mandates and initiatives for customer engagement, and incentives programs might prove to be an added boost for the end-user segment. The global rise in the demand for non-conventional energy in the power generation sector, changes in dynamics of power grids from centralized to distributed, and regulating costs and easy convenience of energy storage drive the development of the virtual power plant market.
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