Market Research Future (MRFR)

Market Analysis The global virtual power plant market is predicted to grow at a healthy 22% CAGR between 2017- 2023 states the recent Market Research Future (MRFR) analysis. Virtual power plants or VPP  are used for optimizing the generation of power from existing sources, integrating different renewable energy sources, and finally reducing the carbon footprint on the environment.  Various factors are propelling the global virtual power plant market share. As per the current MRFR report, such factors include the development of smart grids, growing demand for electric cars, decreasing cost of energy storage & solar generation, the rising share of renewable energy in the power generation mix, favorable government policies, and the possibility of the five-minute scheduling policy with VPP.  On the contrary, weak regulatory framework, the threat of cyberattacks, the challenge to maintain privacy & security of ample data that is generated from consumers, health safety ...