Global Virtual Power Plant Growth Opportunities

Global Virtual Power Plant Growth Opportunities

Supportive Market Mechanisms, Digital Technologies, and RES & DER Development will Lead to Transformational Growth of VPP Technology Demand

RELEASE DATE
21-Jun-2022
REGION
Global
Research Code: MG2A-01-00-00-00
SKU: EG02247-GL-MT_26650
$4,950.00
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Description

Globally, where the closure of coal power plants and the intermittent nature of RES challenge grid operations and stability, VPPs are a promising solution to add flexibility to the grid and solve energy issues of transmission congestion, peak demand, and peak-hour energy prices.
Virtual power plants (VPPs) are an aggregation of decentralized distributed energy resources (DERs), energy storage systems (ESS), and controllable loads, all of which are connected and controlled via a central system of VPP software. The aggregated assets form a single imaginary power plant that can be dispatched during peak demand, eliminating the need for investment in ancillary power generation plants for peak load management. VPP promises significant improvements in grid reliability and resilience and aids in integrating RES into the grid. With other technologies, such as Big Data, the Internet of Things (IoT), and artificial intelligence (AI), VPP can actively manage electricity grids by balancing the demand and supply in the energy market.

Though the concept of VPPs has been present in the global market for almost a decade, most of the studies and projects are still in a pilot phase, so VPP is commercially at an early development stage. This research study aims to analyze the global VPP market, which is still in its early stages, and understands how it will evolve by 2030. The study focuses on the current business models offered by VPP aggregators and utilities, key drivers and restraints for the global VPP market, and the key companies providing VPP solutions.

Research Scope

The study period is from 2020 to 2030, with 2021 as the base year. The forecast period is from 2022 to 2030. Frost & Sullivan’s revenue estimation represents the software & hardware component of the virtual power plant solution and the revenue obtained through services. Market information for the base year is from primary and secondary research data and analyses. Key trends and information on market size, tiers of competition, and other variables are based on discussions with key industry stakeholders in the value chain.


Key Issues Addressed

  • What are VPPs and how do they work? What are the benefits of VPPs?
  • What are the key drivers and restraints influencing the global VPP market?
  • Who are aggregators? What is their role in the European VPP market?
  • What are the different business models in VPPs? What is the current state of VPP in key regions and countries? How is it projected to grow in the future globally? 
  • Which key stakeholders influence technology development and the adoption of VPP technology? What are the different growth opportunities in this space?

Author: Swagath Navin Manohar

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Global VPP

Growth Opportunities Fuel the Growth Pipeline Engine™

Global VPP Market, Key Findings

Global VPP Market, Scope of Analysis

Geographical Scope

Analysis by Business Models

Key Growth Metrics

Global Energy Scenario

Virtual Power Plants (VPP)

Virtual Power Plants (continued)

Key Features of a VPP System

VPP Architecture

Global VPP Market, Global Hotspots

Technologies Influencing Next-generation VPPs

Energy Storage to Boost Adoption of VPPs

Energy Storage to Boost Adoption of VPPs (continued)

Uncertainties in VPP

VPPs & Electricity Markets

VPPs & Electricity Markets (continued)

How Much can a Prosumer & VPP Aggregator Earn through VPP Flexibility Services?

How Much can a Prosumer & VPP Aggregator Earn through VPP Flexibility Services? (continued)

Growth Drivers

Growth Restraints

Global VPP Market Revenue Forecast

Global VPP Market Revenue Forecast Discussion

Global VPP Market Revenue Forecast by Region

Revenue Forecast by Region Discussion

Global VPP Market Revenue Forecast by Business Model

Global VPP Market Revenue Forecast by Business Model Discussion

Key Growth Metrics for VPP Market, North America

VPP Market Revenue Forecast, North America

VPP Market Revenue Forecast by Business Model, North America

VPP Market Revenue Forecast Discussion, North America

Key Growth Metrics for VPP Market, Europe

VPP Market Revenue Forecast, Europe

VPP Market Revenue Forecast by Business Model, Europe

VPP Market Revenue Forecast Discussion, Europe

Key Growth Metrics for VPP Market, China

VPP Market Revenue Forecast, China

VPP Market Revenue Forecast by Business Model, China

VPP Market Revenue Forecast Discussion, China

Key Growth Metrics for VPP Market, East Asia

VPP Market Revenue Forecast, East Asia

VPP Market Revenue Forecast by Business Model, East Asia

VPP Market Revenue Forecast Discussion, East Asia

Key Growth Metrics for VPP Market, ANZ & Pacific

VPP Market Revenue Forecast, ANZ & Pacific

VPP Market Revenue Forecast by Business Model, ANZ & Pacific

VPP Market Revenue Forecast Discussion, ANZ & Pacific

Key Growth Metrics for VPP Market, Rest of World

VPP Market Revenue Forecast, Rest of World

VPP Market Revenue Forecast by Business Model, Rest of World

VPP Market Revenue Forecast Discussion, Rest of World

VPP Market Revenue Forecast Discussion, Rest of World (continued)

Global VPP Market, Ecosystem

Global VPP Market, Ecosystem (continued)

Companies Providing VPP Solutions

Companies Providing VPP Solutions (continued)

Competitive Factors and Assessment

Growth Opportunities Impact

Growth Opportunity 1—Growth of VPPs to Regulate Electricity Usage and Drive Decarbonization & Electrification

Growth Opportunity 1—Growth of VPPs to Regulate Electricity Usage and Drive Decarbonization & Electrification (continued)

Growth Opportunity 2—Increased DER, RES, and BESS to Enable Efficient Functioning of VPPs

Growth Opportunity 2—Increased DER, RES, and BESS to Enable Efficient Functioning of VPPs (continued)

Growth Opportunity 3—VPPs to Reduce Curtailment of RES and Divert Excess Power for Green Hydrogen Production

Growth Opportunity 3—VPPs to Reduce Curtailment of RES and Divert Excess Power for Green Hydrogen Production (continued)

Growth Opportunity 4—Mergers, Collaborations, and Partnerships between Key Stakeholders to Drive VPP Market

Growth Opportunity 4—Mergers, Collaborations, and Partnerships between Key Stakeholders to Drive VPP Market (continued)

Growth Opportunity 5—Growth in VPPs to Enable Innovative Business Models for Utilities & Aggregators

Growth Opportunity 5—Growth in VPPs to Enable Innovative Business Models for Utilities & Aggregators (continued)

Growth Opportunity 6—Increase in Adoption of AI and Other Digital Technologies to Build Smarter VPPs

Growth Opportunity 6—Increase in Adoption of AI and Other Digital Technologies to Build Smarter VPPs (continued)

Growth Opportunity 7—Increasing Residential DERs (mainly Solar PV and Storage) to Drive Residential VPP

Growth Opportunity 7—Increasing Residential DERs (mainly Solar PV and Storage) to Drive Residential VPP (continued)

Growth Opportunity 8—VPPs to Enable Directional Interaction between EVs and Grid (Vehicle-to-Grid)

Growth Opportunity 8—VPPs to Enable Directional Interaction between EVs and Grid (Vehicle-to-Grid) (continued)

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Globally, where the closure of coal power plants and the intermittent nature of RES challenge grid operations and stability, VPPs are a promising solution to add flexibility to the grid and solve energy issues of transmission congestion, peak demand, and peak-hour energy prices. Virtual power plants (VPPs) are an aggregation of decentralized distributed energy resources (DERs), energy storage systems (ESS), and controllable loads, all of which are connected and controlled via a central system of VPP software. The aggregated assets form a single imaginary power plant that can be dispatched during peak demand, eliminating the need for investment in ancillary power generation plants for peak load management. VPP promises significant improvements in grid reliability and resilience and aids in integrating RES into the grid. With other technologies, such as Big Data, the Internet of Things (IoT), and artificial intelligence (AI), VPP can actively manage electricity grids by balancing the demand and supply in the energy market. Though the concept of VPPs has been present in the global market for almost a decade, most of the studies and projects are still in a pilot phase, so VPP is commercially at an early development stage. This research study aims to analyze the global VPP market, which is still in its early stages, and understands how it will evolve by 2030. The study focuses on the current business models offered by VPP aggregators and utilities, key drivers and restraints for the global VPP market, and the key companies providing VPP solutions.--BEGIN PROMO--

Research Scope

The study period is from 2020 to 2030, with 2021 as the base year. The forecast period is from 2022 to 2030. Frost & Sullivan’s revenue estimation represents the software & hardware component of the virtual power plant solution and the revenue obtained through services. Market information for the base year is from primary and secondary research data and analyses. Key trends and information on market size, tiers of competition, and other variables are based on discussions with key industry stakeholders in the value chain.

Key Issues Addressed

  • What are VPPs and how do they work What are the benefits of VPPs
  • What are the key drivers and restraints influencing the global VPP market
  • Who are aggregators What is their role in the European VPP market
  • What are the different business models in VPPs What is the current state of VPP in key regions and countries How is it projected to grow in the future globally 
  • Which key stakeholders influence technology development and the adoption of VPP technology What are the different growth opportunities in this space

Author: Swagath Navin Manohar

More Information
Author Swagath Navin Manohar
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number MG2A-01-00-00-00