The Distributed Generation Market is anticipated to expand significantly due to its key advantages over traditional energy-generating technologies.
According to TechSci Research report, “Distributed Generation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Distributed Generation Market is expected to register 11.42% CAGR during the forecast period. The electrification of transportation, encompassing electric vehicles (EVs) and charging infrastructure, presents opportunities for distributed generation. Decentralized energy sources can power EV charging stations, reducing reliance on fossil fuels and promoting sustainable transportation. Companies involved in the development and deployment of EV charging infrastructure are poised for growth.
The electrification of transportation, which includes electric vehicles (EVs) and charging infrastructure, offers prospects for distributed generation. EV charging stations can be powered by decentralized energy sources, reducing dependence on fossil fuels and promoting the sustainability of transportation. Companies engaged in the development and deployment of EV charging infrastructure are positioned for growth.
Based on technology, the Solar PV Cells segment is expected to dominate the market during the forecast period. Supportive policies and incentives at both the national and regional levels are driving the growth of the solar PV cells segment. Net metering programs, feed-in tariffs, tax credits, and renewable energy mandates play a crucial role in encouraging solar PV adoption. These policies often enhance the financial attractiveness of solar PV projects and expedite their deployment. The combination of solar PV cells with energy storage systems, such as batteries, presents significant opportunities for grid balancing, load shifting, and energy resilience.
Companies involved in energy storage technologies can capitalize on the expanding market for integrated solar and storage solutions. Many emerging markets, particularly in regions with abundant sunlight, offer substantial growth potential for solar PV cells. Governments in these regions are increasingly acknowledging the economic and environmental benefits of distributed solar generation.
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The solar PV cells segment also allows for innovative financing models. Companies that offer creative financing options, such as solar leasing, power purchase agreements (PPAs), and community solar programs, can expand their market access and reach new customer segments. In conclusion, the solar PV cells segment of the global distributed generation market is characterized by declining costs, widespread adoption, and robust policy support. There are opportunities for energy storage integration, expansion into emerging markets, and the development of innovative financing models.
Based on application, the On-Grid segment is projected to dominate the market throughout the forecast period. Favorable regulatory and policy environments have catalyzed the expansion of the on-grid distributed generation sector. Net metering policies, feed-in tariffs, and tax incentives incentivize individuals and businesses to invest in on-grid distributed generation systems.
These policies foster the uptake of renewable energy technologies and drive market growth. Many regions are embarking on grid modernization initiatives to seamlessly integrate distributed generation resources. Grid modernization involves upgrading grid infrastructure, deploying advanced metering and communication systems, and enhancing grid management capabilities.
These efforts facilitate the efficient integration of on-grid distributed generation and lay the groundwork for future grid resilience. The on-grid segment presents opportunities for the integration of energy storage solutions. By combining on-grid distributed generation with energy storage systems, excess energy can be utilized more effectively, load shifting can be achieved, and grid support can be provided during peak demand periods. The commercial and industrial sectors offer significant prospects for on-grid distributed generation.
Businesses can reduce energy costs and enhance sustainability by deploying solar PV systems and other distributed generation technologies. In summary, the on-grid segment of the global distributed generation market is experiencing substantial growth, driven by the increasing adoption of solar PV systems, grid stability advantages, and supportive policies. Opportunities abound in energy storage integration, commercial and industrial applications, and grid-interactive buildings.
Key market players in the Global Distributed Generation Market are:-
- Siemens AG
- General Electric Company
- Mitsubishi Heavy Industries Ltd
- Schneider Electric SE
- Fuel Cell Energy Inc
- Caterpillar Inc.
- Vestas Wind Systems A/S
- Rolls-Royce Power Systems AG
- Toyota Turbine and Systems Inc.
- Capstone Turbine Corporation
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“The Distributed Generation Market in North America is poised to be the dominant force in the industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Distributed Generation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Technology (Reciprocating Engines, Fuel Cells, Solar PV Cells and Wind Turbines), By Application (On-Grid and Off-Grid), By End-User (Residential, Industrial and Commercial), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Global Distributed Generation Marketand provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Distributed Generation Market.
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