Press Releases

The global virtual power plant market is predicted to grow at a CAGR of 33.45% during the forecast period. A virtual power plant is comprises various mixed assets that are connected by a central control system. It analyses a wide range of data, including current energy exchange rates, pricing predictions, weather forecasts, and grid information from system operators. Communication between any virtual power plant's generators requires a remote-control program that manages the entire network. The increased adoption of advanced technologies like cloud computing, advanced analytics, and IoT application in the power sector will have a favorable effect on the market growth of the global virtual power plant industry. The considerable change towards the adoption of renewable distributed energy generation, like fuel cells, solar PV modules, wind turbines, etc. will foster the market development of global virtual power plant industry. Moreover, favorable initiatives by the government to develop energy storage facilities, the rising use of renewable energy sources in the power generation industry along with shift in dynamics of power grids from centralized to decentralized power grids will proliferate the market growth of the global virtual power plant industry. The virtual power plant is effective and flexible in delivering peak load electricity at short notice as compared to the traditional power plants, thereby bolstering the market growth further. Nevertheless, reducing power bills is an advantage of on-site electricity generation, which is helping to fuel an increase in demand for virtual power plants.

In October 2022, AutoGrid Systems (AutoGrid), an American virtual power plant (VPP) provider, partnered with Mysa, a Canadian thermostat manufacturing startup, to scale and launch VPP projects.

Bowse 43 market data Tables and 30 Figures spread through 200 Pages and in-depth TOC on " Virtual Power Plant Market by Technology (Demand Response, Distributed Generation, and Mixed Asset), by End-User (Residential, Commercial, and Industrial), and Region - Global Forecast to 2030

By technology, the distributed generation segment is anticipated to have a fastest growth during the forecast period.

Based on Technology, the Global Virtual Power Plant Market is segmented into Demand Response, Distributed Generation, and Mixed Asset. Throughout the projected period, the Distributed Generation segment is anticipated to expand at a faster pace owing to the development of novel renewable energy technology and the increased concern about pollution and carbon emissions. Grid operations can be considerably improved by integrating remote power-generating resources with Virtual Power Plants.

Global Virtual Power Plant Market Segmentation Analysis

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“Europe is anticipated to have the fastest market share in the Virtual Power Plant Market during the forecast period.”

Europe is expected to have the fastest growth owing to increased investment in renewable energy and energy storage systems, rising market demand for VPPs., the presence of significant industry players and rising government initiatives in countries like Germany, and the UK to curb carbon emissions.

Some of the major players in the global Virtual Power Plant industry include ABB, AutoGrid, Next Kraftwerke, AGL Energy, Cisco Systems Inc., Generac Grid Services, Enel X North America, Inc., General Electric, Tesla, and Siemens.

Scope of the Report

Global Virtual Power Plant Market Coverage

Technology Insight and Forecast 2018-2030

• Demand Response
• Distributed Generation
• Mixed Asset

End-User Insight and Forecast 2018-2030

• Residential
• Industrial
  Commercial

Geographical Segmentation

Virtual Power Plant Market by Region

North America

• By Technology
• By End-User
• By Country – U.S., Canada, and Mexico

Europe

• By Technology
• By End-User
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Technology
• By End-User
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Technology
• By End-User
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries