Distributed Energy Resource Management System Market 2022 – Dynamics, Capital Investment, Competitive Trends, Key Developments, Financial Overview and Growth Prospects till 2030
Research Reports
Apr 07, 2022
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Market Highlights
Distributed Energy Resource management market is expected to grow at 15.78?GR during the forecast period 2022-2030.
Distributed energy resource (DER) management is the management of the distribution grid, which is integrated with DERs. To tackle the current challenges related to the distribution grid, electric utilities need new sets of tools to manage highly adopted DERs. Such tools are a combination of different hardware and software that are integrated to manage these resources properly. A Distributed Energy Resource Management Market is a module that manages the DERs and traditional distribution assets such as capacitor banks, voltage regulators, and tap changers. This system increases the grid reliability and performance of the DERs by significantly reducing the voltage excursions and maintain higher network stability. Hence, DERMS manages to significantly increase network hosting capacity for DERs and achieve regulatory targets for renewable power generation with minimal investment in network capacity.
The growing need for increasing the share of renewable energy in the power generation mix and the shift from centralized to distributed generation are expected to drive the market for distributed energy resource management system during the forecast period. The global electricity demand is expected to grow at a significant rate in the next few years owing to the rise in population, rapid development in urbanization, growing infrastructure activities, and enhanced access to electricity. The conventional energy generation sources such as coal, petrol, and natural gas contribute primarily to carbon emission. As stakeholders in the power generation industry seek opportunities to reduce carbon footprint, they have been focusing on raising the share of renewable energy sources in the total power generation mix, globally. Wind, solar, biomass, and other renewable energy sources witness growth in demand as they help reduce carbon emissions.
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Furthermore, countries across the world, such as India, Germany, Saudi Arabia, and the UAE, have set the target to increase the generation capacity of renewable energy generation sources to increase the share of renewable energy in the power generation mix. For instance, in 2019, the Saudi Arabian government set a target to generate 60GW of energy from renewables by 2030. In the US, according to the International Renewable Energy Agency (IRENA), the share of renewable energy in the country’s total energy generation capacity is expected to reach 10% by 2030. Similarly, according to the Federal Ministry for Economic Affairs and Energy, the German government set a target to have a 40-45% share of renewable energy in the country’s total electricity consumption by 2025. The integration of the electricity generated from renewable energy sources into the conventional grid network is facilitated with the help of DERMSs to create a combined network of various renewable energy sources. DERMS monitors and optimizes the flow of the energy generated from renewable energy sources into the distribution grid network. It also provides enhanced control and integration of renewable energy sources in the grid network and maintains grid stability. Such factors are expected to fuel the demand for distributed energy resource management system.
Moreover, centralized power generation refers to the large-scale generation of electricity at a centralized generating station. The electricity generated from centralized power sources is distributed through an electricity grid to end users, including industries, utilities, and commercial & residential sectors. However, the utilities in the electricity sector are focusing on moving from the centralized to distributed power generation owing to the various challenges associated with the centralized generation. Air pollution, waste generation, and transmission & distribution (T&D) losses are some of the challenges associated with the centralized generation. Distributed generation refers to the on-site or decentralized generation of electricity from various sources such as solar, wind, fuel cells, hydropower, and combined heat & power, which are located near the consumers.
The global market for distributed energy resource management system market is segmented based on technology, software, end-use, and region. By technology, the global market has been segmented into solar OV, energy storage, wind, combined heat & power, and others. By software, the global market has been segmented into analytics, management & control, and virtual power plants. By end use, the global market has been divided into industrial, government & municipalities, commercial, residential, and military.
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Market Research Analysis
Based on region, the distributed energy resource management system market is segmented into Europe, Asia-Pacific, North America, the Middle East & Africa, and South America. North America dominates the global distributed energy resource management system market. The increase in the share of renewable energy sources and government initiatives to promote the installation of DERMS are expected to drive the distributed energy resource management system market in the region.
According to IRENA, under the current policies and scenario, the share of renewable energy sources in the country’s total energy generation is expected to reach 10% by 2030. Policies and incentives such as Residential Renewable Energy Tax Credit, USDA – Rural Energy for America Program (REAP) Grants, and corporate tax incentives are some of the initiatives taken by the governing authorities in the US to promote the installation of DERMS in the country. In Canada, In February 2017, Soventix Canada (Canada) commenced the development of solar power projects with capacities up to 140 MW in Alberta, Canada. DERMS monitors, controls, and optimizes the integration of energy generated from renewable energy sources into the grid network. These factors are likely to fuel the need for distributed energy resource management systems between 2019 and 2025.
Scope of the Report
This study provides an overview of the global Distributed Energy Resource Management System Market, tracking three market segments across geographic regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global distributed energy resource management system market based on technology, software, end use, and region.
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By Technology
- Solar PV
- Energy Storage
- Wind
- Combined Heat & Power
- Others
By Software
- Analytics
- Management & Control
- Virtual Power Plants
By End-Use
- Industrial
- Government & Municipalities
- Commercial
- Residential
- Military
By Regions
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
The Key Industry Participants of the Global Market for Distributed Energy Resource Management System include Schneider Electric (France), General Electric (US), Open Access Technology International, Inc. (US), Enbala (Canada), AutoGrid Systems, Inc. (US), Spirae, LLC (US), Blue Pillar (US), ABB (Switzerland), Enel X North America, Inc. (US), Siemens (Germany), and Doosan Corporation (South Korea).
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