Market Overview —
There was a time when a power plant meant a huge unit where megawatts of power was produced and this was distributed to smaller units of residential and commercial spaces. DER has changed all that. Abbreviated as Distributed Energy Resources, this means linking different small power units to create a large power station. These power units are all connected using information technology and this concept is referred to as a Virtual Power Plant (VPP).
These VPPs are a relatively new idea but lots of industries and power plants are already implementing it, owing to its flexibility and effectiveness. The main reason why the Virtual Power Plant (VPP) industry is set for massive growth is how easily more energy resources can be added or removed from the system. This is not an easy task in a traditional power unit. Another advantage VPPs have is its maintenance. The entire system does not shut down when one component fails. This is the case in regular power stations.
This report is a compilation of all the factors that would affect and promote the growth of the Virtual Power Plant (VPP) market in the years to come. The report analyzes data between the years 2013 and 2018 and considers this as historical information. This, along with primary and secondary research studies creates a base to forecast the growth of this market up to the year 2023. Global, regional and company level analysis is done and the report is clear and detailed.
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Virtual Power Plant (VPP) Global Market Key Players:
GE Digital Energy
ENBALA Power Networks
Cooper Power Systems/Eaton
Customized Energy Solutions
There are two basic types of Virtual Power Plant (VPP)s that the report analyzes – centralized and decentralized controlled VPP. The advantages and disadvantages of both and their potential demand in the future are all investigated in detail by the report. The report also talks about the revenue that each of these types will generate during the forecasted period. Based on the application, the report considers defense, government and commercial applications of these power plants. The sectors that will create the largest demand and hence contribute to the biggest revenue are analyzed in the report.
The regions and countries that are included in this report study are the USA, Europe, China, India, Japan, Southeast Asia, South Africa, and South America. Factors like sales, market share, production and consumption rates, export and import numbers and the CAGR are analyzed for each of these regions. The report further talks about the restraints and opportunities these regions will provide for market growth. Submarkets that are created, the different distribution channels and the key players in the market are also included in the study and their scopes for growth are discussed.
The new VPP project that will be kicking up in South Australia is the latest news in this industry. In September 2019, the project also included Tesla in its team. Tesla will play a role in combining the government’s Home Battery Scheme (HBS) along with VPP to offer cheap electricity to residential areas.
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Release ID: 88928782