1. What is the projected Compound Annual Growth Rate (CAGR) of the U.S. Virtual Power Plant Market?
The projected CAGR is approximately 29.19%.
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U.S. Virtual Power Plant MarketU.S. Virtual Power Plant Market by Technology (Demand Response, Distributed Generation, Mixed Asset), by Asset Type (Solar, Energy Storage, Wind, EV Charging Stations & Vehicle to Home (V2H), by End-user (Residential, Commercial, Industrial), by Forecast 2026-2034
The U.S. Virtual Power Plant Market size was valued at USD 493.17 USD Million in 2023 and is projected to reach USD 2962.09 USD Million by 2032, exhibiting a CAGR of 29.19 % during the forecast period. A VPP is a system of different power generating units like solar panels, wind turbines, and batteries which are coordinated to function as a single power entity. The application of this technology is in the improvement of energy generation, distribution, and consumption, in the enhancement of grid stability, and in the support of the integration of renewable energy. VPPs are of three types: aggregated, demand response, and mixed asset types. Factors of this system are numerous distributed energy resources, smart meters, communication systems, and control software. Lately in the U. S. there has been a rising tendency of adoption of VPPs due to the progress in IoT, artificial intelligence, and the introduction of the regulatory framework which promotes the clean energy initiatives and the grid modernization efforts.
Technology:
Asset Type:
End-user:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 29.19% from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 29.19%.
Key companies in the market include ABB (Switzerland), Siemens (Germany), General Electric (U.S.), AGL Energy (Australia), Enel X (U.S.), Tesla (U.S.), IBM (U.S.), Hitachi, Ltd. (Japan), AutoGrid Systems, Inc. (U.S.), Generac Power Systems Inc. (U.S.), Ohm Connect (U.S.), Honeywell (U.S.), BC Hydro (Canada).
The market segments include Technology, Asset Type, End-user.
The market size is estimated to be USD 493.17 USD Million as of 2022.
Increasing Shift toward Distributed Generation to Support Market Dynamics.
Increasing Demand for Renewable Power Generation to Fuel Market Growth.
Inadequate Infrastructure and High Costs to Hamper Market Growth.
June 2023: AutoGrid has announced a partnership with Willdan aimed at expediting the adoption of heat pump water heaters as a means to reduce carbon emissions in buildings by replacing gas-fired water heaters. This collaboration will utilize AutoGrid's VPP platform to introduce significant levels of adaptable grid capacity, initially commencing within the CAISO energy market.
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The market size is provided in terms of value, measured in USD Million.
Yes, the market keyword associated with the report is "U.S. Virtual Power Plant Market," which aids in identifying and referencing the specific market segment covered.
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