Distributed Energy Resource Management Market to Experience Exponential Growth as Electricity Consumption Surge

The global population is growing. With the expansion of the civilization, demand for basic needs, such as food, shelter, transportation, and electricity are also increasing. Hence, to maintain proper distribution of electricity across its consumers and prevent electricity wastage the concept of distributed energy resources evolved. Distributed energy resource (DER) is an electricity producing resource in an energy distribution grid. Activities that are involved in the management of these interconnected DERs is called distributed energy resources management.

Availability of Various Distribution Energy Resources to Bolster DERM Market Growth

Distribution generation or DG is a type of generation unit that is owned by a distribution unit or a merchant. BTMG or Behind the Meter Generation type are nameplate size DERs that serve a customer’s retail energy needs. Energy storage facility (ES) are extensively used in electric cars. Hence, the growing demand for electric cars are expected to improve the sales number of energy storage facility type of distribution energy resources. DERA or DER aggregation is cluster of multiple DG, BTMG, or ES. They are found at multiple T-D interfaces. MG or micro-grid are multiple DER that are found behind meter of customers. The growing demand for electricity in commercial, residential, and industrial space are triggering the requirement for electricity meters. Cogeneration is the type of DER that produce electricity from heat and steam. It is extensively used in the design of micro CHP. Back-up generation (BUG), are excellent in times of emergency cases, such as shortage of energy. The availability of various DERs, and their applications is surging the need distributed energy management that is likely to propel its market growth in the years to come. As per findings of a fast-growing market research firm, Market Research Future (MRFR), the global distributed energy resource management is expected to thrive at a 16.50% CAGR across the forecast period (2016 to 2023).

Upscaling Need for Distributed Energy Resource to Surge Need for DERM

Increase in electricity consumption and upscaling demand for distributed energy systems are escalating the adoption of distributed energy resources management. This is expected to impel the distributed energy resources management market. Key players are diversifying their portfolio and are opting for effective resource management strategies to expand their business. Depletion of fossil fuel is causing surge in the need for renewable energy. Alongside, the need for electricity is increasing. These factors are boosting the need for distributed energy resources. Hence, is likely to significantly contribute the expansion of the global distributed energy resource management market. Technological advancements and the presence of proficient software developers are likely to benefit the distributed energy resource management market in the years to come. Virtual power plants is one of the on-going trends that is expected to gain good traction. In addition, different analytics are being designed that are backed by technological advancements. Modern technologies are also supporting the development of techniques for effective electricity distribution resource management. The use of solar PV, energy storage, wind, and combined heat and power based technologies are also streamlining distributed energy resource procedures. This can positively impact the DERM market.

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