Global Virtual Power Plant Market: Overview
A virtual power plant is set in operation with the objective of releasing load or pressure on grids with the help of intelligent power distribution during peak hours. Power traders can employ the live data generated for enhancing trades and forecasts of renewable energies. Virtual power plants assume the responsibility of a balanced grid and are expected to take over the role of conventional systems, marketing their output in wholesale markets.
Global Virtual Power Plant Market: Key Trends
The world virtual power plant market is envisaged to be boosted for a larger growth by the increasing usage of residential energy storage systems and inflating penetration of smart grid technologies. End users can be benefited with power savings and energy efficiency with a heightened value of grid distribution systems made possible by a comprehensive collection of distributed energy resources. Uncertainty and healthy safety concerns on the part of radio frequency emissions by smart meters could check the demand in the world virtual power plant market.
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Howbeit, smart meter radio frequency emissions are already included within the limits of the U.S. Federal Communications Commission (FCC). Moreover, the world virtual power plant market could gain a telling impetus from various enabling technology and end-use customer segments.
The rising infrastructure industry is prognosticated to help the world virtual power plant market gain a towering demand throughout the forecast period 2017–2025. Incentive programs and government initiatives and mandates pertinent to customer engagement are expected to intensify the growth in the world virtual power plant market. A colossal number of residences is anticipated to accumulate a significant and faster rise for the world virtual power plant market on account of an extensive usage in distributed generation, demand for energy storage systems, and participation in demand response programs.
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Global Virtual Power Plant Market: Market Potential
By the end of 2018, Anesco, a British developer of renewable energy, will collaborate with aggregated battery network operator Limejump to complete the U.K.’s largest energy storage portfolio capacitating a 185 MW. The announcement follows the recent one about Anesco’s 18.9 MW raise in its active storage portfolio capacity. Limejump chief executive had made a statement which revealed the full breadth of the virtual power plant market to be leveraged by Anesco through the collaboration project. Anesco will also be able to participate in grid balancing schemes as Limejump enables more commercial assets and distributed generators.
Global Virtual Power Plant Market: Regional Outlook
Asia Pacific is predicted to be a larger growing geographical segment in the international virtual power plant market for industrial and infrastructure sectors. This could be due to a number of confident steps taken by governments such as India to produce clean energy, including solar, wind, hydro, and other renewable energies, and minimize carbon footprint.
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The international virtual power plant market in emerging countries is envisioned to be advantaged by the growing application of mixed asset technology. For instance, wind mills are researched to find integration with hydro pump storage systems in India to store energy during off-peak times. Moreover, by 2027, India is forecasted to equip a 100 smart cities and 10,000 villages with micro grids while following its smart grid roadmap.
North America, on the other hand, could dominate the international virtual power plant market with an expansive application in residential as well as industrial and commercial sectors.
Global Virtual Power Plant Market: Competitive Landscape
Accounting close to 58.0% of the total developments in the recent past, agreements and contracts are projected to be a commonly acquired business strategy in the global virtual power plant market. Top ranking players such as Flexitricity, Limejump, Comverge, EnerNOC, Inc., and Schneider Electric SE could lead the global virtual power plant market.