Distributed Energy Resource Management System Market Size
Jersey City, New Jersey, October 13, 2021 (GLOBE NEWSWIRE) – Verified Market Research recently published a report, “Distributed Energy Resource Management Systems MarketâBy software (management and control, virtual power plants and analyzes), by technology (energy storage, combined heat and power generation, solar photovoltaic, wind power, others), by end user (commercial, residential, military, government and municipalities, and industry) and by geography. According to Verified Market Research, the global Distributed Energy Resource Management System market size was valued at $ 167.29 million in 2020 and is expected to reach $ 605.55 million by 2028, with a CAGR of 18.40% of 2021 to 2028.
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202 – Slips
126 – Tables
37 – Figures
Global Distributed Energy Resource Management System Market Overview
The production of renewable energy has grown rapidly due to the increasing demand for energy. In the United States, the market is dynamic due to the increase in the production of renewable energy. The growing awareness of clean energy or green energy and renewable energies, such as solar power, biomass and wind and tidal power, is propelling market demand. The global demand for electricity is estimated to increase at a significant rate over the next few years due to steadily increasing population, rapid urbanization and industrialization, growing infrastructure activities and improved access to electricity. In addition, conventional energy production sources, such as fossil fuels, coal and natural gas, contribute significantly to carbon emissions. Fossil fuels are increasingly being replaced by renewable sources, such as wind power and solar power.
Government initiatives to promote the installation of DERMS are increasing the growth of the market for distributed energy management systems globally. For example, the U.S. government has taken a number of initiatives, including policies and incentives, such as the USDA-Rural Energy for America (REAP) program grants, the Residential Renewable Energy Tax Credit, and tax incentives for companies, which enhance the growth of the market, the installation of DERMS in the country. In addition, China and Japan hold considerable shares in the regional market due to favorable government policies supporting Foreign Direct Investments (FDI). The installation of DERMS by utilities and network operators also faces technical challenges. For example, to unlock all the benefits of DERMS, a fairly accurate representation of the distribution system is needed, including how and where loads and DERs are connected.
Key developments in Distributed Energy Resource Management Systems Market
- ABB offers innovative integrated energy and asset management as software as a service
- The new ABB Ability Energy and Asset Manager SaaS provides application-specific asset and energy management. Users can view and analyze plant performance data and manage assets to optimize real-time energy consumption and improve overall site efficiency.
- GE announced its partnership with BlackRock Real Assets. With this partnership, GE and BlackRock have launched a distributed solar and storage business.
The main players in the market are Autogrid Systems, Inc., General Electric, ABB Ltd, Siemens AG, Schneider Electric, Spirae, Inc., Enbala Power Networks, INC., Enernoc, Inc., Open Access Technology International, Inc., Doosan Gridtech, Inc. (Doosan Heavy Industries & Construction) and Blue Pillar, Inc.
Verified market research segmented the global Distributed Energy Resource Management Systems market on the basis of software, technology, end-user, and geography.
- Distributed Energy Resource Management Systems Market, By Software
- Management control
- Virtual power plants
- Distributed Energy Resource Management Systems Market, By Technology
- Energy Storage
- Heat and electricity combined
- Solar PV
- Distributed Energy Resource Management Systems Market, By End User
- Government and municipalities
- Distributed Energy Resource Management Systems Market by Geography
- North America
- The rest of europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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