Westford,USA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Distributed Generation market, growing adoption of solar photovoltaic (PV) systems, increasing deployment of wind turbines for distributed generation, the emergence of energy microgrids and community-based power projects, integration of energy storage systems with distributed generation, advancements in smart grid technologies and grid management, rising popularity of combined heat and power (CHP) systems, development of virtual power plants and demand response programs, are the trends that aid in the market's growth.
Browse in-depth TOC on "Distributed Generation Market"
- Pages - 260
- Tables - 94
- Figures - 76
Distributed generation (DG) is the generation of electricity on-site, close to the point of consumption. This can be done using a variety of technologies, including solar panels, wind turbines, and microturbines. DG can help to reduce reliance on the grid, improve reliability, and provide backup power during outages.
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Prominent Players in Distributed Generation Market
- ABB
- Bloom Energy
- Capstone Turbine
- Cummins
- Enel
- First Solar
- GE
- Green Mountain Power
- Honda
- Mitsubishi Heavy Industries
- Nissan
- Odyne Energy
- S&C Electric
- Siemens
- SMA Solar Technology
- SolarEdge Technologies
- SunPower
- Toshiba
- Vikram Solar
- Westinghouse Electric
Solar PV Technology Type Demand to Grow Substantially in the Forecast Period
Solar PV technology dominated the global market owing to its declining costs, improved efficiency, and government incentives. It is also abundant and renewable, making it a popular choice for distributed generation. The scalability and modular nature of solar PV systems make them suitable for various applications, including residential, commercial, and utility-scale projects.
Commercial Building is the Leading Application Segment
In terms of application, the commercial building segment is the leading segment due to the demand for electricity. In addition, it can provide these buildings with on-site power generation, reducing their reliance on the grid and potentially lowering energy costs, and it can enhance the resilience and reliability of the power supply for critical operations in commercial buildings.
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North America is the leading Market Due to the Generation Installations
Region-wise, North america is one of the largest growing markets with a huge emphasis on distributed generation installations. The favourable government policies and incentives, increasing awareness of renewable energy benefits, technological advancements, and the presence of mature financial markets. The United States has a well-established market for rooftop solar PV systems, community solar projects, and other distributed generation applications.
A recent report thoroughly analyzes the major players operating within the Distributed Generation market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Distributed Generation.
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Key Developments in Distributed Generation Market
- In January 2023, Enel acquired eSolar, a developer of concentrated solar power (CSP) projects. This acquisition gave Enel a stronger position in the CSP market.
Key Questions Answered in Distributed Generation Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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