Declining Cost of Solar Power – Drive the Market
Globally, the drop in the cost of solar power generation is a big boost for distributed power generation system. The governments across the globe have focused on building solar power infrastructure in order to promote clean energy generation. The technological advancements and policy-level support from governments across the globe have improved the economic viability of solar power. Moreover, the development of energy storage technology has favored the case of solar energy. The solar power plants can be developed at power consumption centers and integrated with the grid network, which can reduce the requirements of centralized power systems. The development of such distributed power systems can improve the resiliency of electricity grid network. The cost of solar power is expected to reduce further in the near future, which is expected to provide a big thrust to the distributed power generation market during the forecast period.
On-grid Deployment - Major Market
The on-grid deployment of distributed power generation on account of improved grid infrastructure and benefits associated with grid integrated distributed power generation systems. With development of on-grid distributed power generation systems, the power trading can be made feasible, which is a big boost for the power sector. Moreover, the load balancing on the grid and demand response related issues can be addressed efficiently. Therefore, on account of benefits associated with on-grid systems, the deployment of on-grid distributed power generation has major share in the global distributed power generation market.
Europe to Dominate the Market Growth
The European region is expected to dominate the market, owing to increasing focus on upgradation of power infrastructure. The governments of European countries have taken holistic approach in tackling climate change related issues, which has led to reduction in the usage of fossil fuel and nuclear power generation. The development of distributed power generation in Europe can bridge the gap created by reduction of centralized conventional power plants.
Key Developments in the Market
• January 2018: Rensource, a Lagos-based distributed energy provider raised USD 3.5 million financing to grow its power-as-a-service renewable energy business by expanding across Nigeria.
• January 2018: Three 6F.01 gas turbines form GE Power have started commercial operation at Huaneng Guilin Gas Distributed Energy Project in Guilin, China.
• January 2018: MHPS received first order for integrated fuel cell and gas turbine hybrid power generation system for installation at the Marunouchi Building, located near Tokyo Station.
MAJOR PLAYERS: GENERAL ELECTRIC COMPANY, SCHNEIDER ELECTRIC SE, MITSUBISHI HEAVY INDUSTRIES Ltd, SIEMENS AG, CATERPILLAR Inc., CUMMINS Inc., amongst others.
Reasons to Purchase This Report
• Identify the drivers, restraints, and opportunities possessed by the global distributed power generation market, with in-depth analysis.
• Analyze the various perspectives of the market with the help of Porter’s five forces analysis.
• Identify the most dominating technology with forecasted market estimate.
• Identify the largest, fastest growing, and significant regions during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.