Rising renewable energy generation as compared to conventional energy has significantly bolstered the market for virtual power plants. The European virtual power plant market is all set to exhibit a CAGR of 25.96% for the estimated period of 2018-2026.
Prominent virtual power plant markets in Europe are Germany, UK, Spain, France etc. Significant adoption of demand response technology for preventing the energy wastage is expected to drive substantial growth across the United Kingdom virtual power plant market. France has introduced a research project which focuses on integrating the energy storage solutions across France’s “virtual power lines”. German market accounted for the lion’s share of the European virtual power plant market in 2017 and is expected to maintain this lead throughout the projected years. Several energy infrastructure projects in Germany have received significant funding from the Federal Network Agency of Germany for installing the power lines to connect the wind power that is generated in North Germany with the electricity consumption centres across the South Germany.
Companies like Cisco Systems Inc, Robert Bosch, Power Analytics Corporation (Causam Energy), Autogrid Systems Inc, Siemens, Schneider Electric, General Electric, IBM Corporation, Abb Ltd, Open Access Technology International Inc, Enbala and others are engaged in this market.