Virtual Power Plant Market to Reach $1,187.5 million by 2023: P&S Market Research

Print
| Source: P&S Market Research

NEW YORK, July 14, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Virtual Power Plant Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Type (Centralized Controlled VPP, Decentralized Controlled VPP), by Technology (Demand Response, Distribution Generation, Mixed Asset), by End-Use (Industrial, Commercial, Residential)” published by P&S Market Research, the global market for virtual power plant is projected to reach USD1,187.5 million by 2023, growing at a CAGR of 30.3% during the forecast period (2017 – 2023).

Browse Detailed Information On Virtual Power Plant Market: https://www.psmarketresearch.com/market-analysis/virtual-power-plant-market

As per the research, the global market for virtual power plant is likely to grow from USD191.5 million in 2016 to USD1,187.5 million by 2023. With increasing infrastructural development activities in the Asia-Pacific region and rising government initiatives to reduce the carbon footprints, the demand for virtual power plant is expected to gain traction during the forecast period. Governments of various nations are focusing on increasing the share of renewable energy in the primary energy mix by introducing mandates and incentive programs to encourage end-users to shift towards clean energy sources.

As per the findings of research, the industrial sector emanated the largest demand for virtual power plant. The segment is expected to exhibit similar trends during the forecast period. Centralized controlled VPP has been the largest revenue generator in the global market for virtual power plant. Demand response is the largest segment in virtual power plant market, by technology; while mixed asset is expected to exhibit the fastest growth in the global virtual power plant market, by technology.

North America accounted for the largest region in the global virtual power plant market, where the U.S. contributed to the largest revenue. The U.K. was the major market for virtual power plant in Europe, whereas Japan contributed to the largest revenue in the Asia-Pacific region. Saudi Arabia generated the largest revenue for virtual power plant market in the Rest of the World, which also includes South Africa, Brazil and Mexico.

Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=virtual-power-plant-market

The factors driving the growth of the global virtual power plant market include rising applications in the industrial, commercial and residential sectors and increasing penetration of smart grid technologies. The increasing government initiatives to produce clean energy including renewable sources such as hydro energy, wind energy and solar energy generation is expected to spur the demand for virtual power plant during the forecast period.

Governments of various nations have introduced peak load management and earning incentives for participating in demand response programs. This is expected to increase the demand for demand response which would in turn, lead to the growth of virtual power plant. Additionally, rising shift from centralized to decentralized generation is likely to drive the market for virtual power plant during the forecast period, as distributed energy sources provide high value to the grid distribution system resulting in energy efficiency and power savings.

Browse Related Research

Hydrogen Storage Market

According to the U.S. Department of Energy, hydrogen storage can be described as a key enabling technology for the advancement of hydrogen and fuel cell technologies in applications such as stationary power, portable power and transportation. Hydrogen can be stored either in solid, liquid or gaseous form. For storing hydrogen in gaseous form, high-pressure tanks having 350–700 bar tank pressure is required; whereas for liquid form, storage of hydrogen requires cryogenic temperatures, as the boiling point of hydrogen at one atmosphere pressure is −252.8°C.

https://www.psmarketresearch.com/market-analysis/hydrogen-storage-market

Solar Encapsulation Market

Solar encapsulations are materials deployed in solar photovoltaic (PV) modules to extend the useful life of PV installations. Ethylene vinyl acetate (EVA), polyvinyl butyral (PVB), polydimethylsiloxane (PDMS) and ionomer are the most commonly-used materials in solar PV modules. These materials possess unique characteristics such as corrosion resistant, flame retardant or hard wearing.

https://www.psmarketresearch.com/market-analysis/solar-encapsulation-market

Planar Solid Oxide Fuel Cell Market

Planar solid oxide fuel cell (SOFC) is a flat, thin ceramic plate that converts the chemical energy of a fuel into electricity with minimum emissions. Planar solid oxide fuel cell is a sub-type of SOFC operating at 1000°C and offers the highest energy efficiency, unlike other fuel cell types. They offer efficiencies more than 60% when converting fuel to electricity.

https://www.psmarketresearch.com/market-analysis/planar-solid-oxide-fuel-cell-market

About P&S Market Research

P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.

With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.

Contact:
Kundan Kumar
Manager – Client Partner
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Connect with us: LinkedIn | Twitter | Google + | Facebook