Virtual power plants gain momentum for optimal energy management, says GlobalData
Virtual power plants (VPPs), functioning as cloud-enabled distributed energy systems, represent a pragmatic approach to innovating the energy landscape. By facilitating the seamless integration of renewable energy with advanced digital technologies, VPPs are increasingly becoming popular as an intelligent solution to the complex issues of energy management and distribution, finds GlobalData, a leading data and analytics company.
Kiran Raj, Practice Head of Disruptive Tech at GlobalData, comments: “VPPs are fundamentally changing the way we manage energy. Integrating smart grid technologies with advancements in IoT and cloud computing, they are not just distributing energy, but intelligently aligning supply with demand in real-time. This revolutionizes our approach to managing renewable energy fluctuations, stabilizes the grid, and expands access, setting the stage for a future where sustainable, reliable energy is widely accessible for diverse communities.”
VPPs are redefining energy management and sustainability, as seen in Tesla’s recent Puerto Rico project, which integrates energy storage and solar systems for grid stability and sustainable energy.
GlobalData’s Disruptor Intelligence Center cites significant VPP advancements, including Tesla in South Australia, SunRun in California, and Sonnen Group in Germany, showcasing a global trend in innovative energy solutions.
In 2023, the US backed VPPs with a $3 billion federal loan and state-level integrations for grid modernization, promising enhanced energy efficiency and significant cost savings.
Raj concludes: “VPPs have evolved far beyond a passing trend in the dynamic energy landscape. Their role in meticulously merging renewable energy with the latest digital and smart grid innovations is central to fostering a sustainable energy environment. However, as we navigate this transition, continued innovation, regulatory support, and addressing scalability challenges will be crucial to fully realize the potential of VPPs.”
Notes:
- Quotes are provided by Kiran Raj, Practice Head of Disruptive Tech at GlobalData
- The information is based on GlobalData’s Disruptor Intelligence Center
- This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts
About GlobalData’s Disruptor Intelligence Center
Disruptor Intelligence Center decodes emerging tech-enabled opportunities with must-have information on promising start-ups, technology-led innovations, latest sector trends, consumer insights, and venture capital portfolio investments. It helps to monitor competitor strategies, predict emerging trends, monetize disruptive innovation, decode smart money, mine thought leadership, and capture digital consumers.
About GlobalData
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
