Market research Future Virtual Power Plant Market to Grow at 22 % CAGR . | Página 3

Virtual Power Plant market Research Report- Forecast to 2023
2 Market Overview
The global rise in the demand for renewable energy in the power generation sector is creating a lucrative
market for virtual power plant. The dynamic changes in the power grids from centralized to distributed,
also the reduced cost of the electricity and easy access to store energy in energy storage devices such as
batteries is propelling the global virtual power plant market. However, the growing health concerns over
the human exposure to high frequency of electromagnetic and radio waves is restraining the potential of
market growth at different end-user level. Contrarily, the emerging shift toward electric automobiles and
promotion of smart offices and buildings with smart grids, is expected to create an immense opportunity
in the global virtual power plant market.
A virtual power plant is a network of medium-scale, decentralized power generating units same as
Combined Heat and Power (CHP) units, solar plants and wind farms as well as flexible power consumers
and batteries. The unified units are dispatched through the principal control room of the virtual power plant
but stays self-governing in their process and possession. The prime objective of the virtual power plant is
to release the load on the grid by rapidly dispensing the power produced by the individual units during the
peak load. Additionally, the combined power generation and power consumption of the interacted units in
the virtual power plant is merchandised on the energy interchange platforms.
Market Segmentation
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