The global virtual power plant market size was valued at $1.3 billion in 2019, is expected to reach $5.9 billion by 2027, and is expected to grow at a CAGR of 21% from 2021 to 2027. Power systems with the purpose of integrating various distributed energy sources such as solar PV cells, wind turbines and hydroelectric power plants. In addition, virtual power plants provide efficient power generation even during peak load periods, with the scope to trade or sell power on the trading market. Virtual power plants are medium-sized power generation units incorporating a variety of renewable energy sources for solar, wind and other flexible power consumers and storage systems. A virtual power plant consists of a variety of mixed assets connected through a central control system that processes a wide range of information such as current prices, prices and weather forecasts for power exchangers, and grid information for system operators.
A full report of Virtual Power Plant Market available at https://www.orionmarketreports.com/virtual-power-plant-market/11785/
Key Players
Major players have adopted product launch, business expansion to sustain the intense market competition. The key players profiled in the report include ABB Ltd., AGL Energy, AutoGrid Systems, Inc., Enbala Power Networks, Enel X Inc., General Electric Company, Siemens AG, Schneider Electric SE, Limejump Ltd., and others.
Virtual Power Plant Market Segmentations
By Technology:
• Demand Response
• Distributed Generation
• Mixed Asset
By End-User Application:
• Industrial and Commercial
• Residential
(This release has been published on Next Biz Post. Next Biz Post is not responsible for any content included in this release.)
