Surgein the demand for energy across the globe and need for grid to regulate theenergy is driving the distributed generation market. Implementation of newtechnologies to generate electricity such as solar photovoltaic cells,underground thermal energy storage, and winds turbines are attractinginvestment from government. This is another factor which is augmenting the sizeof distribution generation market. Also, low transmission losses is one of themajor benefits fuelling the expansion 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.
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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.
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. Theimplementation of technology is attributed to its availability and flexibility.It can be deployed easily.
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AsiaPacific is likely to contribute largely in the expansion of distributedgeneration market owing to the rising energy requirement among industries andresidential areas. In order to fulfil the demand, installation of power grid isrequired.
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.
Thestudy presented here is based on a report by Transparency Market Research (TMR)titled “Distributed Generation Market (Technology - Solar Photovoltaic, CHP,Wind Turbine, Reciprocating Engines, Micro Turbines, Fuel Cells; Application -On-Grid, Off-Grid; End use - Residential, Building and Institutions,Commercial, and Industrial) - Global Industry, Size, Share, Growth, Trends, andForecast 2017 - 2025”.
