Virtual Power Plant Market Survey on Advancement in
Technology and Expert Analysis till 2021
The report "Virtual Power Plant Market by Enabling Technology (Demand Response,
Distributed Generation, and Mixed Asset), End-Use Customer (Commercial & Industrial, and
Residential), and by Region - Global Trends & Forecasts to 2021", The virtual power plant
market is expected to grow from an estimated USD 193.4 Million in 2016 to USD 709.2 Million by
2021, registering a CAGR of 29.68% from 2016 to 2021. The global market is witnessing
significant growth, which is driven by increasing share of renewable energy in the power
generation mix as well as shift from centralized to distributed generation and lowering costs for
solar and energy storage.
Browse 66 market data tables and 32 figures spread through 144 pages and in -depth TOC
on "Virtual Power Plant Market by Enabling Technology (Demand Response, Distributed
Generation, and Mixed Asset), End-Use Customer (Commercial & Industrial, and
Residential), and by Region - Global Trends & Forecasts to 2021"
https://www.marketsandmarkets.com/Market-Reports/virtual-power-plant-market-
173730863.html
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Demand Response – the largest virtual power plant market by technology
Among the three major technologies of virtual power plant solutions: demand response held the
largest market share in 2015. This virtual power plant technology has become more popular due
to its various benefits such as end users earn incentives by managing power usage and also save
electricity on a large scale. The U.S. is the world’s first country to implement demand response
and thus North America is the largest market for this technology as well as for virtual power plant
solutions as a whole.
Commercial & Industrial: held the largest application segment of virtual power
plant market
Based on end-user, commercial & industrial have larger market for virtual power plant solutions
compared to residential end-user segment. Industrial end-users are among the highest adopters
of virtual power plant solutions and services and hence provide major contribution to the market
growth. The peak load of electricity is highest in the petroleum refining industry, followed closely