Global Distributed Energy Generation Market 2018-2022
About Distributed Energy Generation
Distributed energy generation refers to the small-scale energy generation technology units that are used to generate energy at a location closer to the end-users. Distributed energy generation technologies offer end-users several benefits such as increased power reliability and reduction in the cost of electricity. These benefits have increased the demand for distributed energy generation technologies.
Technavio’s analysts forecast the global distributed energy generation market to grow at a CAGR of 9.04% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global distributed energy generation market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Distributed Energy Generation Market 2018-2022
Technavio recognizes the following companies as the key players in the global distributed energy generation market: Bloom Energy, Capstone Turbine, General Electric, Huawei Technologies, Schneider Electric, Siemens, and SMA Solar Technology.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is reduction in technology costs. The adoption of technologies such as the wind power and solar power energy in both developing and developed countries is increasing due to the rising support from the governments such as feed-in tariffs and incentives and declining costs.”
According to the report, one driver in the market is increased need for energy access and high cost of grid expansion. It has been observed that around 1 billion people across the world have no access to energy due to the lack of grid infrastructure. In addition, the cost of main grid extension for rural electrification depends on the demand pattern, distance of the community from the existing main grid, population density, power quality, and several other factors.
Further, the report states that one challenge in the market is low efficiency of solar PV. Energy storage systems combined with solar PV are the most commonly used sources of distributed energy generation. They are clean and available in abundance. However, they are low on efficiency. Currently used Solar PV panels can convert approximately 15% of the sunlight that falls on the panel into electrical power.
Bloom Energy, Capstone Turbine, General Electric, Huawei Technologies, Schneider Electric, Siemens, and SMA Solar Technology.