United States Virtual Power Plant Market by Technology (Demand Response, Distributed Generation, Mixed Asset), By End User (Residential, Commercial, Industrial (Petroleum Refining, Chemicals Industry, Metals & Mining, Others)), By Source (Renewables, CHP, Energy Storage, Other Local Generation), By Component (Software and Service), By Region, Competition Forecast & Opportunities, 2018-2028

The

Rising In Demand of Renewable Energy and IoT/Cloud Platform Across the Nation

Leading economies across the country are increasingly using renewable energy sources to generate electricity, and this need has emerged as a significant growth driver for the market for

Growth of the market is credited to the power industry's increasing adoption of cutting-edge technologies like the

Latest Trend of VPP in United States

A significant industry trend that is being examined is the rising investment in the construction of new virtual power plants. The building and operation of a conventional power plant requires large amounts of money. VPP, on the other hand, is a centralized control system that is connected to power generating and transmission units. As a result, it costs less and can combine different dispersed energy resources.

Governmental measures have strained national resources, forced reconsideration of switching to renewable energy sources, and delayed reforms to the power industry. For instance, in just 10 years, renewable energy’s segment of US electricity generation gets doubled over—from 10% in 2010 to 20% in 2020. More than 100 gigawatts (GW) of solar and 122.5 GW of wind capacity were found at in the nation, in the end of 2020.

Market Segmentation

Market player

Major players operating in the United States virtual power plant market include

Recent Developments

• The Massachusetts Department of Energy Resources must set a 1,000 MWh energy storage goal by 2025, for instance, as a result of House Bill 4857 (An Act to Advance Clean Energy), which was created by the state of Massachusetts in the United States in August 2018. Rising solar energy cost competitiveness and governmental efforts to build energy storage systems are therefore expected to increase the demand for VPPs during the forecast period. Funding to hasten the company's goal of installing 26,000 energy storage devices in buildings and residences while integrating them with Swell's 600MWh of virtual power plants (VPP) across the US. 
• According to Carrington, Stem (Company located in carrington) is aiming for "full participation and value" of its VPPs in U.S. wholesale markets by providing voltage support, frequency regulation, renewable energy integration, reserve capacity, and other grid services.