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.
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 Segmentation
By Technology:
• Demand Response
• Distributed Generation
• Mixed Asset
By End-User Application:
• Industrial and Commercial
• Residential
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