Virtual Power Plant Market Its Future Outlook And Trends

By Author: Industry Analysis
Total Articles: 11
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The virtual power plant market size was USD 3,367.7 million in 2022, and it will propel at a rate of 16.9% in the years to come, reaching USD 12,273.3 million by 2030, as per a market research company, P&S Intelligence.

While, the mixed asset category will grow the fastest in the years to come, advancing at a considerable rate. This development can be credited to the higher use of smart devices for controlling customer-site loads and can be easy to handle.

Electric vehicles will register the fastest growth in the years to come, advancing at a growth rate of over 20%. This can be because of the high production and EV sales, the increasing requirement for EVs because of the increasing price of fuel, and the surging research and development spending by industry giants.

For Getting More Insights of This Report:-
https://www.psmarketresearch.com/market-analysis/virtual-power-plant-market

Globally, power evacuation infra, which is characterized by power transmission and distribution networks, is either obsolete or insufficient. In the majority of developed countries, power transmission ...
... networks are obsolete and not accomplished of accommodating the recurrent flow of electricity supplied by renewable power projects.

Furthermore, high transmission and frequent network failure and distribution losses result in loss of revenue to power utilities. In developing nations, the power transmission network is highly inadequate to cater to the increasing demand for power.

It is because of the growing consciousness of benefits of renewable power, the demand for virtual power plants will increase in the near future.