Virtual Power Plant Market By Analyzing Historical Data and Future Prospect 2025

The need for aggregation of distributed electricity has created increased demand within the global virtual power plant market. Presence of a seamless industry for controlling power distribution units and systems has played an integral role in market maturity. Sale of power in the electricity market also necessitates the development of cloud-based virtual power plant market. Multiple sources of power exist across a regional territory, and there is a need to record the capacity of each of these units. The ability of virtual power plant to integrate multiple power sources has created fresh opportunities for growth within the market. Moreover, relevance of flexible power load has brought virtual power plants under the spotlight of attention.

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• The power industry has emerged as the torchbearer of growth across local and national territories. Need for power distribution has led to the induction of improved systems across the industry. Henceforth, the total volume of revenues within the global virtual power plant market is slated to increase in the years to follow. The need for increased flexibility and efficiency across the power sector shall usher an era of growth within the global virtual power plant market. There is humongous demand for power across the residential, commercial, and industrial sectors. This factor has played a pivotal role in induction of virtual power plants across several regions.
• Australia, Europe, and the United States are amongst the most prominent integrators of virtual power plants. These regions have shown immense dexterity in developing virtual power plants that can collate electricity. Furthermore, presence of a sophisticated power industry across these regions has helped in driving sales. The vendors in the virtual power plant market are focusing on capturing new territories. This trend shall help in driving sales across the global virtual power plant market, and could improve the performance index of the overall market.

Virtual Power Plant (VPP) refers to a cluster of small-scale generators, such as combined heat and power (CHP) units, biogas plants, and backup generator sets, which collectively act akin to a single large power plant.

A virtual power plant does not physically exist. It is the pool of distributed energy resources that acts as a single large facility using sophisticated software to operate them as a group. Every single generator that belongs to the VPP needs a gateway to communicate with the remote control software managing the whole network.

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In the VPP model, an energy aggregator gathers a portfolio of smaller generators, and operates them as a unified and flexible resource on the energy market or sells their power as system reserve. The objective of a virtual power plant is to let go the load on the grid by smartly distributing the power generated by the individual units during periods of peak load. Additionally, the combined power generation and power consumption of the networked units in the virtual power plant is traded on the energy exchange. The power traders within a virtual power plant are able to use real time data to enhance forecasting and trading of renewable energies. As a result, virtual power plants gradually take over the role of traditional power plants – selling their output on wholesale markets and assuming responsibility for a balanced grid.

The virtual power plant ecosystem comprises power and automation technology companies such as ABB Ltd., Siemens AG, Schneider Electric SE, and General Electric. Furthermore, major players operate as demand response aggregators such as EnerNOC, Inc., Comverge, Inc., Limejump, and Flexitricity.