The Global Virtual Power Plant Market size was valued at USD 556.1 Million in 2021 and is projected to reach USD 2.27 Billion by 2028, growing at a CAGR of 26.5 % from 2022 to 2028.

A virtual power plant is a cloud-based distributed power plant that aggregates the capacities of heterogeneous distributed energy resources for the purposes of enhancing power generation, trading or selling power on the electricity market, and demand side options for load reduction. Depending on the particular market environment, a virtual power plant (VPP) can accomplish a whole range of tasks. In general, the objective is to network distributed energy resources such as wind farms, solar parks, and Combined Heat and Power (CHP) units, in order to monitor, forecast, optimize, and trade their power.This way, fluctuations in the generation of renewables can be balanced by ramping up and down power generation and power consumption of controllable units.

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The Report Will Include A Major Chapter

·         Patent Analysis

·         Regulatory Framework

·         Technology Roadmap

·         BCG Matrix

·         Heat Map Analysis

·         Price Trend Analysis

·         Investment Analysis

Market Dynamics and Factors:  

Virtual power plants reduce the need to build very large units by collecting the capacity of smaller units and therefore play an important role in reducing emissions from large units. Paying attention to the issue of emissions in a virtual power plant can affect its profit. VPPs accelerate power sector decarbonization by decreasing the dispatch of highly polluting power plants, driving the build-out of lower-carbon power supply, and accelerating electrification. ​VPPs enable economy-wide electrification. They provide revenue streams to incentivize electrification and help avoid grid bottlenecks that would otherwise constrain electrification.

Scope of the Report:

The latest report on the Virtual Power Plant Market provides a detailed analysis of the market for the years 2023 to 2030. It presents a comprehensive overview of the global Virtual Power Plant Market industry, incorporating all key industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Virtual Power Plant Market. Moreover, the research covers crucial chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to grasp the market direction and development in the present and forthcoming years.

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Top Key Players Covered In The Virtual Power Plant Market:

ABB (Switzerland),Siemens (Germany),General Electric (U.S.),AGL Energy (Australia),Schneider Electric (France),Cisco Systems Inc. (U.S.),Bosch (Germany),Autogrid Systems Inc. (U.S.),Enel X Inc. (U.S.),Next Kraftwerke (Germany), and Other Major Players.

Key Industry Development:

In September 2022, Virtual Power Plant (VPP) provider, AutoGrid announced to launch of one of several VPP projects in collaboration with Canadian manufacturer Mysa, whose line of innovative smart thermostats for electric heating and cooling systems offers robust home energy management capabilities for both consumers and utilities. The initial VPP project with a US utility serving 1 million customers supports a targeted demand side program to postpone the buildout of a new substation in their region.

In September 2020, AGL’s Virtual Power Plant (VPP) is set for an expansion, as the company launches solar battery sales and installations for residential customers in Queensland, New South Wales, and Victoria

Virtual Power Plant Market Segmentation:

By Technology Type

·         Demand Response

·         Distributed Generation

·         Mixed Asset

By Source

·         Solar

·         Wind

·         Small Hydro

·         Batteries

·         Others

By End Users

·         Commercial

·         Industrial

·         Residential

For this report, Introspective Market Research has segmented the Virtual Power Plant Market based on region:

§  North America (U.S., Canada, Mexico)

§  Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

§  Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

§  Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

§  Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)

§  South America (Brazil, Argentina, Rest of SA)

Covid-19 Impact Analysis on Virtual Power Plant Market:

Almost every industry was impacted by the unprecedented global public health crisis known as COVID-19. Businesses in nations like China and India have been negatively impacted by COVID-19's widespread effects, which has decreased energy demand. Investments in utilities and grid projects have fallen at an unprecedented rate as more nations implement lockdowns to stop the virus's spread. The market's expansion has also been hampered by sluggish demand brought on by consumers spending less on various applications.

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