The market size of global distributed energy resources experienced significant strength in 2020 and is expected to demonstrate steady revenue growth throughout the projected period. The adoption of renewable energy sources, the reduction of overall emission levels, and the decentralization of energy are key drivers behind the growth in market revenue. Additionally, factors such as lower energy costs, system-level capacity, operating reserves, and the resilience of distribution contribute to the increasing demand for distributed energy resources and support the growth of market revenue.
Distributed Energy Resources (DER) are smaller power sources that can be utilized individually or in groups to supply electricity to the grid. They have paved the way for a bidirectional flow of energy and the adoption of new interconnected power production technologies. DER systems, typically utilizing renewable energy sources such as small-scale hydro, solar, wind, and geothermal power, are becoming increasingly vital in the distribution of electric power. A DER system refers to a grid-connected device for storing electricity, often referred to as a distributed energy storage system. These DER systems can be managed and controlled within a smart grid through an interface. Distributed generation and storage enable the collection of energy from various sources, potentially reducing environmental impacts and enhancing supply security.
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Major Companies Profiled in The Report:
- Capstone Turbine Corporation
- First Solar
- Suzlon Energy Ltd.
- Sharp Corp.
- Mitsubishi Electric Corp.
- Toyota Turbine and Systems Inc.
- Volta
- Ansaldo Energia
- Bloom Energy
- General Electric
- Siemens
- Schneider Electric
- ENERCON GmbH
- SALT Energy
- Synthica Energy
- Gaia Wind
- Solarify
- Vestas Wind Systems A/S
- Caterpillar
- Ballard Power Systems Inc.
- Doosan Heavy Industries Construction
Driving Factors of Distributed Energy Resources Market
The distributed energy resources market is being propelled by several key factors. Firstly, the increasing adoption of renewable energy sources is driving market growth. This shift towards cleaner and sustainable energy options, such as solar, wind, and geothermal power, has created a demand for distributed energy resources.
Another driving factor is the desire to reduce overall emission intensity. Distributed energy resources offer a decentralized approach to energy production, allowing for a more efficient and environmentally friendly energy system. By utilizing distributed generation and storage, the reliance on traditional fossil fuel-based power plants can be minimized, leading to a reduction in greenhouse gas emissions.
The decentralization of energy is also a significant driving force. Distributed energy resources enable power generation at smaller scales, closer to the point of consumption. This reduces transmission losses and increases the overall resilience and reliability of the energy grid.
Additionally, factors such as lower energy costs, system-level capacity, operating reserves, and the ability to enhance distribution resilience are contributing to the growing demand for distributed energy resources. These factors not only make distributed energy resources economically attractive but also provide benefits in terms of grid stability and security.
Overall, the combination of renewable energy adoption, emission reduction goals, decentralization, and the various advantages offered by distributed energy resources are driving the growth of this market.
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Detailed Segmentation in Our Report:
For the purpose of this report, the global distributed energy resources market is segmented on the basis of technology, application, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Wind Turbine
- Solar Photovoltaic
- Reciprocating Engines
- Fuel Cells
- Gas Steam Turbine
Application Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Commercial Industrial
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
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