The new report titled ‘Global Virtual Power Plant Market,’ published by Emergen Research is a vivid presentation of the global Virtual Power Plant market, with utmost focus on the forecast market size, share, value, and volume over the projected timeline.

The global virtual power plant market is expected to reach a market size of USD 3,724.2 million by 2028 at a relatively robust CAGR over the forecast period, according to latest analysis by Emergen Research. This growth can be attributed to factors such as increasing initiatives of various governments regarding adoption of renewable sources of energy, which is driving renewable power generation activities. Rapid urbanization and rising focus on decarbonization, along with the rapid digitalization trend, are other factors driving adoption of virtual power plants, and the trend is expected to continue during the forecast period. Increasing energy consumption is another factor driving demand for virtual power plants to monitor and increase production of energy from renewable sources. Technological advancements on the traditional power grid for development of a new smart decentralized grid with bi-directional energy is contributing to growth of the virtual power plants market. Moreover, the report also includes macroeconomic factors and regulatory policies pertaining to the Virtual Power Plant industry for evaluation and predictive analysis.

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