Distributed energy resource management system refer to the modular, decentralised and flexible technologies, which are placed in close proximity to the load they serve. Distributed energy resource management system market participants are increasingly focused on offering end-to-end and tailored solutions enabling industrial and commercial users to leverage opportunities of distributed energy resources including vehicle to grid, demand side management, flexible power plant and PV/wind and storage amongst others. The growing adoption of distributed energy resources among large user base is estimated to proliferate the growth of distributed energy resource management system market over the forecast period.
In terms of revenue, distributed energy resource management system market was valued at US$ 239.20 Mn in 2020 growing at a CAGR of 19.5% over the forecast period (2021 – 2029). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
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Solar PV Held Largest Market Share in 2020
According to Absolute Markets Insights report, Solar PV accounted for the higher market share in 2020 and is projected to maintain its dominance over the forecast period (2021-2029) period in the distributed energy resource management system market. The growth in this segment is attributed to declining costs of solar photovoltaic systems coupled with higher solar photovoltaic module efficiency. According to International Energy Agency (IEA), in 2020, power generation from solar photovoltaic systems recorded around 23% growth from year 2019. Such growth was attributed to looming support policy deadlines in U.S., China, and Vietnam. In addition, developers in these regions hastened to complete their projects and took advantage of feed in tariffs (FIT) support schemes. This led to investment boom in these regions along with high rate of deployment of solar photovoltaic systems in residential and commercial spaces. The aforementioned factors drove the growth of solar PV segment, which subsequently contributed in distributed energy resource management system market growth.
Global trend toward clean energy transition has driven the demand for improving energy security and mitigating climatic impacts. In July 2021, Joint G20 Energy-Climate Ministerial Communiqué emphasized the significance of distributed energy resources (DERs) to address energy security and climatic challenges. Additionally, distributed energy resources (DERs) support decarbonization through fuel switching. Also, electric car registration rose by 41% in 2020 despite the pandemic on account of supportive regulatory framework following the fall of battery prices. Albeit growing demand response solutions for energy efficiency, increasing number of EV vehicles and rooftop solar panels are projected to drive the growth of global distributed energy resource management system market over the future years.
Since the advent of distributed energy resource management systems, electricity generation has been more weather dependent. Distributed energy resource management systems allows flexibility associated with variable renewable sources to ensure consistent power supply. For instance, energy storage enables solar power to meet energy demands after sunset. Such a factor is projected to foster the growth of energy storage in distributed energy resource management system market.
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Growing Implementation of Integrated Software to Optimize Energy Distribution
Increasing implementation of distributed energy resource management system with software platforms to optimize energy distribution and prevent loss is likely to play vital role in driving the demand in the global distributed energy resource management system market. These software platforms are designed to monitor, control, forecast and co-ordinate distributed energy resources (DERs) from wide array of sources such as wind farms, solar cells, and storage system across power grid.
In addition, wind farms struggle to manage unprecedented power surges, which runs the risk of causing blackouts and outages on the grid. Incorporation of management systems associated to outages, distribution management, supervisory control and data acquisition in distributed energy resource management systems is anticipated to foster growth of integrated software in the extended run. Furthermore, digitalisation of distributed energy resource management system is projected to play vital role in driving the product demand. Smart digital solutions aid operators to monitor and influence distributed energy resource (DERs) by boosting its value. For instance, water heaters with grid connected electric resistance enables improved management of electrified heating through modulation.
Additionally, virtual power plants (VPPs) can aggregate distributed energy resource (DERs) across regions and provide grid services. This cloud based distributed power plant use advanced optimisation algorithms to deliver value while maintaining grid reliability. Such a factor is likely to drive the demand in global distributed energy resource management system market for virtual power plants (VPPs) application.
North America to Global Dominate Distributed Energy Resource Management System Market in 2020
North America followed by Europe dominated the global distributed energy resource management system market in 2020. The growth in these regions can be attributed to high demand for electricity, growing solar photovoltaic capacities and early adoption of distributed energy resources (DERs). In September 2020, U.S. Federal Energy Regulatory Commission (FERC) approved the distributed energy resource (DER) aggregators to participate in regional organized wholesale electric markets. Such a factor boosted the regional competition with growing demand for distributed energy resource management system.
Furthermore, International Energy Agency (IEA) launched Digital Demand-Driven Electricity Networks (3DEN) initiative, which focuses on effective utilisation of distributed energy resources (DERs) and modernisation of power systems. The initiative prioritizes countries such as South Africa, Brazil, India, Tunisia, Morocco, Indonesia, and Colombia among others. Such a factor is projected to increase the penetration of distributed energy resources (DERs) which in turn is likely to drive distributed energy resource management system market growth.
Some of the key players operating in the global distributed energy resource management system market are Advantech Co., Ltd., AutoGrid Systems, Inc., Doosan GridTech, ENBALA Power Networks, GENERAL ELECTRIC, Hitachi ABB Power Grids Ltd, Itron Inc., Open Access Technology International, Inc., Schneider Electric, Siemens, Smarter Grid Solutions, Spirae, LLC, and Sunverge Energy Inc. amongst other market participants.
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Global Distributed Energy Resource Management System Market:
By Component
- Software
- Integrated
- Standalone
- Services
- Professional Services
- Managed Services
By Deployment
- On Premise
- Cloud
By Distributed Energy Resources (DERs) Technology
- Solar PV
- Wind Power
- Combined Heat and Power Units (CHPs)
- Energy Storage
- Others
By Application
- Monitoring and Operation
- Analytics
- Virtual Power Plant
- Grid Capacity Management
- Others
By End-Users
- Industrial & Commercial
- Local Authorities & Municipalities
- Energy Service Companies
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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