Virtual Power Plant Deployment To Soar in Europe & North America
With the launch of several renewable energy generation projects, the demand for well-developed power evacuation infrastructure is surging, which is, in turn, pushing up the requirement for virtual power plants (VPP). Moreover, the increasing concerns being raised over the soaring pollution levels and greenhouse gas emissions and rapid depletion of fossil fuels are fueling the adoption of renewable energy sources for power generation, which is further boosting the demand for VPP. As per various reports, the share of renewable sources in power production across the world will rise from 7% in 2015 to 20% by the end of 2035. Furthermore, India is aiming to produce 150 GW of renewable energy by the end of 2022. This would subsequently fuel the requirement for VPP, as they are needed for integrating the newly developed renewable power projects with the existing centralized power distribution infrastructure. Moreover, renewable energy projects propel the requirement for a centralized infrastr...