Global Virtual Power Plant

Global Virtual Power Plant Market Research Report: Forecast (2022-2027)

By Source (Distributed Energy Generation System, Energy Storage Systems), By Technology (Demand Response, Distributed Generation, Mixed Asset), By End-User (Residential, Industrial, Commercial), By Re Read more

  • Energy
  • Mar 2022
  • 178
  • EN33008

Market Definition

A Virtual Power Plant is a cloud-based network of decentralized power generation units like solar plants, wind farms, storage systems, among others, used for releasing the lad from the grid by swiftly dispensing off the power generated by the units during peak load. These power production units are governed in their process & possession through the virtual power plant.

Besides, the virtual power plant sells off the combined energy generation & consumption of different units across the energy interchange platforms. It also intends to integrate large non-conventional energy units at one existing central energy system, which has created fresh growth opportunities within the virtual power plant industry.

Market Insights

The Global Virtual Power Plant Market is projected to grow at a CAGR of around 27% during the forecast period, i.e., 2022-27. The market is driven primarily by the mounting demand for power generation from renewable energy sources, coupled with an essential concern for decentralized power generators in the electricity distribution supply chain to balance energy production & consumption levels.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR 27%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy, Denmark
Asia-Pacific: China, Japan, South Korea, Australia
South America: Brazil, Argentina
Middle East & Africa: UAE, Saudi Arabia, South Africa
Key Companies Profiled Autogrid Systems, Advanced Microgrid Solutions, Inc., CISCO Systems Inc., Enbala Power Networks Inc., Enel X North America Inc., General Electric, Itron Inc., Hitachi Ltd, Mitsubishi Electric Corporation, Next Kraftwerke, Siemens AG, Schneider Electric, Tesla Inc.
Unit Denominations USD Million/Billion

 

Virtual Power Plants integrate technologies like demand response, distributed generation, and mixed assets, offering opportunities to reduce the overall cost of energy. Besides, several public & private partnerships across the world promoting the adoption of Virtual Power Plants are further driving the market. For instance:

  • In February 2017, market leader ABB Ltd. enforced a flywheel energy storage system for stabilizing voltage fluctuations within the grid and bringing efficiency in energy consumption.
  • In the same year, Sweden also introduced a smart grid program, intending to reduce the energy prices during peak hours, where numerous consumers participated

Key Trends in the Market

In July 2021, Tesla announced a plan to use its Powerwall integrated battery system across California as part of a Virtual Power Plant to back the electric grid at times of high temperatures. Besides, the leader is experienced in networking with Virtual Power plants and has deployed around 10% of these units across South Australian plants. This plant has played a crucial role in supporting broader power grids during critical events.

Moreover, the Tesla Powerwall battery system is likely to join the movement to build Virtual Power plants across California with distributed generation technology for residential energy storage and stabilizing the power grids.

Impact of Covid-19 on the Global Virtual Power Plant Market

The Covid-19 pandemic in 2020 catastrophically affected most industries worldwide. However, the Global Virtual Power Plant Market did not observe any direct impact. Due to the severe economic downfalls across different countries, investments in the Virtual Power Plant industry underwent a temporary halt. Several countries across Europe had lowered funding in the IT infrastructure, which consequently brought a pause in technological innovations in the market. 

Since most countries imposed stringent movement restrictions & lockdowns to curb the virus spread, investments in multiple grid projects also witnessed an unprecedented decline. On the bright side, some countries also took initiatives in reducing the burden of energy generation. For instance:

  • A Metropolitan Electricity Authority & Provincial Electricity Authority of Thailand enabled a 3% reduction on all tariff bills, refunded meter deposits for residential sectors, increased grace periods for bill payments, and provided other benefits.  

Furthermore, with the gradual improvement in the pandemic situation, the governments of different countries are swiftly increasing investments in multiple verticals to enhance their national economy, stressing more on national budgets, and reconsidering transitions on renewable energy resources, among others. Hence, the Global Virtual Power Plant Market would gain significant momentum owing to the massive funding in developing energy infrastructure across developing nations in the years to come.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Glossary
    4. Market Segmentation
  2. Executive Summary
  3. Expert Verbatim- Interview Excerpts of Industry Experts
  4. Impact of COVID-19 on Global Virtual Power Plant Market
  5. Global Virtual Power Plant Market Start-up Ecosystem and Investment Climate
    1. Leading Start-ups & Their Specialties
    2. Funding Under Multiple Rounds  
    3. Prominent Investors & Their Portfolio
  6. Global Virtual Power Plant Market- Business Cases/Use Cases
  7. Global Virtual Power Plant Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Source
        1. Distributed Energy Generation System
        2. Energy Storage Systems
      2. By Technology
        1. Demand Response
        2. Distributed Generation
        3. Mixed Asset
      3. By End Users
        1. Residential
        2. Industrial
        3. Commercial
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Asia-Pacific
        5. Middle East & Africa
      5. By Company
        1. Revenue Shares
        2. Strategic Factorial Indexing
        3. Competitor Placement in MarkNtel Quadrant
  8. North America Virtual Power Plant Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Source
      2. By Technology
      3. By End Users
      4. By Country
        1. US
        2. Canada
        3. Mexico
    3. US Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    4. Canada Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    5. Mexico Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
  9. South America Virtual Power Plant Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Source
      2. By Technology
      3. By End Users
      4. By Country
        1. Brazil
        2. Argentina
    3. Brazil Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    4. Argentina Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
  10. Europe Virtual Power Plant Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Source
      2. By Technology
      3. By End Users
      4. By Country
        1. The UK
        2. Germany
        3. France
        4. Italy
        5. Denmark
        6. Others
    3. UK Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    4. Germany Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    5. France Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    6. Italy Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    7. Denmark Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
  11. Asia-Pacific Virtual Power Plant Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Source
      2. By Technology
      3. By End Users
      4. By Country
        1. China
        2. Japan
        3. Australia
        4. South Korea
        5. Others
    3. China Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    4. Japan Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    5. Australia Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    6. South Korea Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
  12. Middle East & Africa Virtual Power Plant Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Source
      2. By Technology
      3. By End Users
      4. By Country
        1. UAE
        2. Saudi Arabia
        3. South Africa
    3. UAE Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    4. Saudi Arabia Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
    5. South Africa Virtual Power Plant Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Source
        2. By Technology
        3. By End Users
  13. Global Virtual Power Plant Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  14. Global Virtual Power Plant Market Trends
  15. Global Virtual Power Plant Market Value Chain Analysis
  16. Global Virtual Power Plant Market Regulations, Product Standards
  17. Global Virtual Power Plant Market Hotspots & Opportunities
  18. Competition Outlook
    1. Competitor Wise Growth Strategies
      1. Product Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Research & Development
      5. Strategic Alliances & Initiatives
    2. Company Profiles
      1. ABB Ltd
      2. AutoGrid Systems
      3. Advanced Microgrid Solutions, Inc.
      4. CISCO Systems Inc.
      5. Enbala Power Networks Inc.
      6. Enel X North America Inc.
      7. General Electric
      8. Itron Inc.
      9. Hitachi Ltd
      10. Mitsubishi Electric Corporation
      11. Next Kraftwerke
      12. Siemens AG
      13. Schneider Electric
      14. Tesla Inc.
  19. Disclaimer
Global Virtual Power Plant Market Analysis, 2022
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