Surgein the demand for energy across the globe and need for grid to regulate theenergy is driving the distributed generation market. Implementation of new technologiesto generate electricity such as solar photovoltaic cells, underground thermalenergy storage, and winds turbines are attracting investment from government.This is another factor which is augmenting the size of distribution generationmarket. Also, low transmission losses is one of the major benefits fuelling theexpansion of distributedgeneration market.
Registeringthe on-going trend, the distributed generation market is expected to rise at aCAGR of 8.2% between years 2017 and 2025. The distributed generation marketwill reach at a value of US$35.56 bn by the end of 2025.
Constantdemand for clean energy from renewable sources is bolstering funding towarddevelopment of infrastructure for generation of clean energy. Governments andindustry players are investing on research and development to unveil newtechnologies that can tap renewable energy sources. This has come out as one ofthe important factors contributing to the expansion of distributed generationmarket in the coming years.
Thedemand for electricity in both developed and developing countries forresidential and industrial purposes is increasing on daily basis. On the otherhand, governments are increasing cost as well as implementing policies torestrict the use of energy produced from fossil fuels. Hence, there is a sheerpressure on development of power distribution infrastructure that usesrenewable energy source. This, in turn, is enhancing the growth of distributed
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Utilizationof Surrounding Renewable Energy Source to Make Homes Energy Independent
Statistically,1 billion people across the globe have no access to energy due to absence ofproper grid infrastructure. Distributed energy generation uses easily availablerenewable sources to generate energy. Innovation in the technology is enablinggeneration of energy from running water from tap, stored water, solar energy,wind energy, and geo-thermal energy. This can make every house energyindependent. And, remaining energy can also be transferred to the needful area.
Toimplement this electrification programs in energy-deficit regions, governmentwill need to invest substantially for the construction of grid structures aswell as area-specific technologies for the generation and storage of electricity.The trend will propel the growth of distribution generation market.
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Amongall the technologies used in the distribution generation market, the combinedheat and power (CH) technology is expected to hold the major share indistribution generation market in the course of forecast period. The implementationof technology is attributed to its availability and flexibility. It can bedeployed easily.
AsiaPacific is likely to contribute largely in the expansion of distributedgeneration market owing to the rising energy requirement among industries and residentialareas. In order to fulfil the demand, installation of power grid is required.
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Thedistributed generation market is witnessing high level of competitive intensityamong the key players. Technological advancements to tap renewable energysources are likely to escalate the competition in the market. Some of theprominent players in distribution generation market are Caterpillar PowerPlants, Rolls-Royce Power Systems, Bloom Energy, Ballard Power Systems, andMitsubishi Hitachi Power Systems.
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