Virtual Power Plant Market Share, Size, Trends, Industry Analysis Report, By Technology (Demand Response, Distributed Generation, Mixed Asset); By Source (Solar, Wind, Small Hydro, Batteries, Others); By End-Use (Industrial, Commercial, Residential); By R

Virtual Power Plant Market Share, Size, Trends, Industry Analysis Report, By Technology (Demand Response, Distributed Generation, Mixed Asset); By Source (Solar, Wind, Small Hydro, Batteries, Others); By End-Use (Industrial, Commercial, Residential); By Region; Segment Forecast, 2022 - 2030

The global virtual power plant market size is expected t-reach USD 4,471.30 Million by 2030, according t-a new study by Polaris Market Research. The report “Virtual Power Plant Market Share, Size, Trends, Industry Analysis Report, By Technology (Demand Response, Distributed Generation, Mixed Asset); By Source (Solar, Wind, Small Hydro, Batteries, Others); By End-Use (Industrial, Commercial, Residential); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight int-current market dynamics and provides analysis on future market growth.

The major factors that boost the industry growth include its benefits for energy generation, expansion of smart grids, and growing demand for renewable energy. Virtual energy plants are used t-maximize energy generation from existing sources, incorporate multiple renewable energy sources, and, as a result, reduce carbon emissions.

Any expansion of the smart grid would directly impact the virtual energy plant business. Furthermore, factors such as a growing share of renewable energy in the energy generation mix and falling solar generation and energy storage prices are expected t-increase the virtual power plant business.

Based on the technology, the demand response segment accounted for the leading share in the industry in 2021. Due t-increased expenditures in demand-response systems, the demand response category is expected t-hold the most significant market share. Its popularity is fast growing due t-its long-term benefits for end-users and capacity t-improve the grid’s energy efficiency. It als-offers perks like peak load control and the chance t-earn prizes by engaging in demand response programs.

Market players such as International Business Machines Corporation, General Electric, AGL Energy, ABB, Schneider Electric, Siemens. AutoGrid, Blue Pillar, Inc., Enbala Power Networks, Inc., Next Kraftwerke., Enel X, Cisc-Systems, Inc., Hitachi, Ltd., Robert Bosch GmbH are key players operating in the global market.

In November 2021, SunPower Corp., a leading solar technology and energy services company, has announced the opening of its Virtual Power Plant (VPP) solution, which allows SunVaultTM energy storage consumers t-be compensated for allowing the versatility t-use stored energy throughout peak demand, resulting in a more stable electric grid in their community. Thus, these strategies adopted by the major players are boosting market growth.

Polaris Market Research has segmented the virtual power plant market report based on technology, source, end-user, and region:

Virtual Power Plant, Technology Outlook (Revenue – USD Million, 2018 – 2030)

• Demand Response
• Distributed Generation
• Mixed Asset

Virtual Power Plant, Source Outlook (Revenue – USD Million, 2018 – 2030)

• Solar
• Wind
• Small Hydro
• Batteries
• Others

Virtual Power Plant, End-User Outlook (Revenue – USD Million, 2018 – 2030)

• Industrial
• Commercial
• Residential

Virtual Power Plant, Regional Outlook (Revenue – USD Million, 2018 – 2030)

• North America
• U.S.
• Canada
• Europe
• France
• Germany
• UK
• Italy
• Netherlands
• Spain
• Austria
• Asia Pacific
• China
• India
• Japan
• Malaysia
• South Korea
• Indonesia
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• UAE
• Saudi Arabia
• Israel
• South Africa