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Virtual Power Plant Market Size, Share and Forecast 2026

(EnergyIndustry.Net, September 11, 2019 ) Market Overview
• Virtual power plant reduces the load on the grid by smartly distributing the power generated by the power generating units during periods of peak load.
• The combined power generation and consumption of the networked units in the Virtual Power Plant is traded on the energy exchange. It is a network of decentralized power generating units such as Combined Heat and Power (CHP) units, wind farms, solar parks, small hydro, biomass as well as flexible power consumers and batteries. Furthermore, power traders within a virtual power plant are capable to develop live data to increase estimating and trading of renewable energies.
• Germany is a leading country in the implementation of VPPs, such as the one operated by Next Kraftwerke, which networks around 4,800 medium- and small-scale power-producing and power-consuming units in central Europe.

Market Dynamics
• With the changing dynamics of power grids from centralized to distributed, and decreasing costs of solar generation & energy storage is driving the growth of the virtual power plant market worldwide.
• Rising clean energy demand and continuous government support towards generating power from renewable energy are also the key factors impacting market growth. For instance, as per the International Energy Agency (IEA) report, Global electricity demand in 2018 increased by 4%, or 900 TWh, growing nearly twice as fast as the overall demand for energy. Renewable energy increased by 4% in 2018, accounting for almost one-quarter of global energy demand growth. Renewables covered almost 45% of the world's electricity generation growth, now accounting for over 25% of global power output.
Global virtual power plant market is segmented based on the type of technology, end-user and its system types.
• Based on the technology type, Internet of things (IoT) is expected to grow with a high CAGR rate in the forecast period. Internet of Things in smart grid technology improving two-way communications between utility companies and its customers.
• Based on the end-user type, the virtual power plant market is segmented into commercial, residential and industrial. The global virtual power plant market size by end-user was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Commercial segment is further classified into power trading and generation companies, educational institutions, and, hospitals. Commercial segment is expected to dominate the major share owing to rising demand for electricity in the remote locations, along with the need for reliable backup power systems, and growing applications of distributed power generated at the site or near the point of use.

Geographical Analysis
• Geographically, the global virtual power plant market is segmented to five regions, namely, North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• The Europe virtual power plant market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. This region is expected to grow with a high CAGR rate over the forecast period 2019-2026. Rising demand for decentralized energy sources often arising from small and medium-sized enterprises is playing an important role in the market growth in this region.
• This region is expected to hold a high market share in the forecast period 2019-2026. Increasing demand for management of distributed energy and rising investments are the major factors driving the market growth. For instance, 1,760-megawatt CCGT power plant and ancillary infrastructure in Cilamaya, Karawang, West Java, Indonesia was funded by Asian Development Bank as a direct loan of USD 185 million, and a parallel loan of USD 120 million.

Competitive Analysis:
• Global virtual power plant market players are experiencing high competition within the industry as key market players have adopted acquisitions as their key strategy to widen their brand portfolios and expand their market reach.
• Some of the key players in the market are ABB, Siemens AG, Sunverge Energy Inc, AutoGrid Systems, Inc, Advanced MicroGrid Solutions, Inc, ENGIE Storage Services NA LLC, Spirae, LLC, Sonnen, Enbala technologies and Next Kraftwerke.
• In June 2019, Next Kraftwerke, a power plant operator without any power plants has announced that they digitally bundled more than 7,500 renewable power units with a capacity totaling almost 7,000 megawatts into one of Europe’s largest virtual power plants (VPP) hat balances renewable power sources with commercial and industrial consumers in Germany and neighboring countries.
• In February 2019, Shell acquired Limejump one of the digital energy platform operating in the virtual power plant unit. This acquisition will support Shell initiatives of moving beside the oil industry and revolutionize the energy industry.
• In February 2019, Shell has acquired German-based home energy-storage start-up Sonnen for an undisclosed sum.

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