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The North America virtual power plant market is predicted to showcase a CAGR of 23.39% during the forecast period, 2019-2028. The rising focus on clean energy generation through the use of renewable energy is projected to boost the deployment of virtual power plants for collecting, distributing, and managing, the energy in the region.
The North America virtual power plant market growth is analyzed on the basis of the evaluation of Canada and the United States. The Canadian market growth is driven by government funding with regard to the production of renewable energy. Due to the vastly-spread territories, Canada depends on distributed electricity generation for meeting the electricity demands. The implementation of VPPs would aid the end-users in obtaining continuous electricity supply during peak hours by aggregating distributed generation units within a centralized control unit. The power industry is undergoing substantial information, propelled by technology and innovation. Innovation becomes an urgent need for enhancing the electricity supply network through virtual power plants. The growing distributed electricity generation units also increases the demand for the market studied. The market growth is also supplemented by the rising electricity generation from hydropower and non-hydro renewable sources of electricity generation. Such factors are set to influence the adoption of virtual power plants in Canada.
Some of the esteemed market players in the market include, Flexitricity Limited, Next Kraftwerke, General Electric, Enel X, IBM Corporation, etc.
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- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments