The global market for distributed energy resources (DER) was robust in 2020 and is expected to continue growing steadily over the forecast period. Factors driving revenue growth in this market include the adoption of renewable energy sources, decentralization of energy, and the reduction of overall emission intensity. DER systems, which use renewable energy sources such as hydro, solar, wind, and geothermal power, are becoming increasingly crucial in the electric power distribution system. DER can be managed and controlled within a smart grid using an interface and allows for the collection of energy from a variety of sources, potentially reducing environmental consequences and improving supply security. However, several unfavorable factors are expected to hamper market growth, such as difficulties following rules related to microgrids and land-use issues. Despite these challenges, opportunities for business growth are expected to arise from technological advancements, such as peer-to-peer solutions, blockchain, smart pricing and grid interaction, and the rise of the electric vehicle. North America is currently the largest market for DER due to evolving regulatory rules for the implementation of renewable energy sources, decentralization of smart grids, and reforms to reduce carbon emission. However, the Asia Pacific market is expected to register the fastest growth in CAGR over the forecast period due to increasing demand for energy as a result of rising population and rapid urbanization in countries like China, India, Indonesia, and Malaysia.
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Distributed Energy Resources Market: Notable Innovation
The distributed energy resources market has seen several notable innovations in recent years. One such innovation is the development of advanced microgrids, which allow for greater control and optimization of distributed energy resources. These microgrids use sophisticated software and hardware to manage energy generation and storage, as well as demand response.
Another innovation is the use of blockchain technology to facilitate peer-to-peer energy trading. This technology allows consumers to buy and sell energy from each other directly, bypassing traditional utility companies. This can lead to greater efficiency and cost savings, as well as increased resilience in the face of power outages.
Smart home technology is also playing a significant role in the distributed energy resources market. Home automation systems can be used to manage energy use, turning off lights and appliances when they are not in use and adjusting heating and cooling systems based on occupancy and weather conditions. This can help reduce energy consumption and lower utility bills.
Overall, the distributed energy resources market is constantly evolving, with new technologies and innovations emerging on a regular basis. As the world moves towards a more sustainable energy future, these innovations will play a crucial role in making that future a reality.
The distributed energy resources market is home to a variety of companies, ranging from startups to well-established players. Some of the top companies in this market include:
- SunPower Corporation
- Tesla Energy
- Siemens AG
- General Electric (GE) Power
- Schneider Electric
- ABB
- Enphase Energy
- Bloom Energy
- Cummins
- ON SE
These companies are involved in the development, production, and installation of various distributed energy resources technologies such as solar panels, wind turbines, battery storage, microgrids, and more. Each company brings unique expertise and offerings to the market and is contributing to the growth and advancement of distributed energy resources.
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