Virtual Power Plant Market an over $5,500.0 Million Opportunity

28/ago/2019 22:35:28 Manish Kumar Contatta l'autore

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With the demand for electricity rising at an exponential rate, 4.0% in 2018 as for the International Energy Agency (IEA), the requirement for fuels to generate this power is also increasing. The increased burning of fossil fuels, such as coal and crude oil, which are still the major sources of electricity generation, pushed the carbon emissions up by 2.5% that year, the IEA reported. To continue to rise to rapid industrialization and urbanization, to need to save the environment is to say more than ever. This was given to the novel concept of virtual power plants (VPPs), which refers to an inter-connected network of power plants, not connected to the government grid, and power consumers. The power plants are small solar or wind farms with a maximum capacity of 10 MW. Such a model automatically distributes power across small distances, depending on the demand.

P&S Intelligence said in a study that the worldwide virtual power plant market valued $ 1,975.1 million in 2017 and that would grow rapidly at 18.6% CAGR to ultimately reach $ 5,510.2 million. Supply side, demand response and mixed assets are the three technologies on which VPPs work. Among these, demand response VPPs for 2017, they are preferred by consumers. Such power plants offer various incentives to consumers during periods of peak demand. This is a lot of consumers who need electricity can get it, and the demand - supply gap doesn't worsen. VPPs in the years to how.

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The investments in VPPs are also increasing. Another reason for the popularity of power generation facilities is the huge capital involved in constructing and maintaining conventional power stations. Commercially viable VPPs have already been constructed or under construction in the US, Germany, and China. Now, with increasing funding, the size and power generation capacities of such facilities are also increasing. Tesla, for instance, energy giant is constructing at 250 MW virtual power plants in Adelaide, Australia at $ 250.0 million, which is expected to start distributing electricity to 50,000 houses in 2022.


Another factor helping VPPs become more popular is the growing capacities of renewable power stations. It is being predicted that compared to 7.0% in 2015, almost 20.0% of the total power generated in 2035 will be from renewable sources. Countries such as India and China For instance, India has plans to have a 150 GW of energy installed capacity by 2022-end, whereas China aims to generate almost 200 GW of power from solar farms alone by 2020. , the virtual power plant market would grow the fastest in Asia-Pacific in the near future, outpacing even North America

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