The global distributed energy generation (DEG) market size is expected to reach USD 573.7 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 15.0% during the forecast period. Owing to their environmental benefits, preference for DEG systems will be higher as compared to conventional energy systems.
DEG eliminates the need for building a transmission capacity that reduces the line cost. In addition, low prices of DEG compared to conventional energy generation are anticipated to provide a fillip to the market. Moreover, innovations in DEG technologies, such as floating solar photovoltaic, is likely to propel the market. Decreasing cost of solar PVs is playing an instrumental role in the development of the market. Feed-in tariffs in regions including Asia Pacific, Europe, and North America are poised to stoke the growth of the market.
E.ON SE; Vestas Wind Systems A/S; Capstone Turbine Corporation; Caterpillar Power Plants; Ballard Power Systems Inc.; Doosan Fuel Cell America; FuelCell Energy Inc.; Rolls-Royce Power Systems AG; Sharp Corporation; Suzlon Energy Limited; General Electric (GE); First Solar; SIEMENS AG; Toyota Turbine and Systems Inc.; and ENERCON GMBH are some of the major players in DEG market.
Further key findings from the report suggest:
traditional energy sources
&D are the key strategies adopted by major market players to strengthen their position. Companies in the market are continuously trying to innovate and develop new technologies