Latest News- Distributed Energy Generation Market: Residential is expected to lead the End-user segment during 2024-2028

The Distributed Energy Generation Market is being driven by Transition towards electric vehicles (EVs)

The Distributed Energy Generation Market is expected to grow at a CAGR of 13.63% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 252.1 billion. The distributed energy generation market is experiencing significant growth due to the increasing adoption of renewable energy sources, such as solar, wind, hydro, and biomass. Renewable energy penetration is a major trend in the energy sector, driven by declining costs, supportive policies, and environmental concerns. Advancements in distributed energy generation technologies, including solar photovoltaic (PV) panels, wind turbines, energy storage systems, and smart grid technologies, have resulted in substantial improvements in efficiency, cost-effectiveness, and performance. These factors are collectively fueling the expansion of the distributed energy generation market as countries and regions transition to cleaner, more sustainable energy systems. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Residential
  • Commercial
  • Industrial
• Technology
  • Solar PV
  • Hydro power
  • Fuel cells
  • Wind turbine
  • Others
• Geography
  • APAC
    • China
    • India
  • Europe
    • Germany
    • UK
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Transition towards electric vehicles (EVs)
• Declining cost of solar PV panels
• Increasing investments in renewable energy

However, the market also witnesses some limitations, which are as follows:

• High equipment and installation costs
• Intermittency in solar power generation
• Limited awareness and consumer education

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Market Scope in Distributed Energy Generation Market Research Report

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Research Analysis Overview

The Distributed Energy Generation (DEG) market is experiencing significant growth due to increasing electricity demand and the adoption of renewable energy sources, including wind, sun, biomass, and hydro. DEG technologies such as reciprocating engines, turbines, batteries, and fuel cell technology are being utilized to generate power at the point of consumption. Microgrids, solar panel installations, and grid expansion are key infrastructure developments. Environmental concerns and efficiency drive the implementation of energy efficiency standards, green transformers, and advanced technologies like microgrids, solar panels, wind turbines, and hydro power. Combustion engines, micro turbines, and combustion turbines also play a role in DEG, offering flexibility and reliability.

Market Research Overview

In the dynamic energy landscape, distributed energy generation (DEG) is gaining significant traction as businesses and utilities seek to meet increasing electricity demand with renewable sources. Utilities, encompassing both electric and water entities, play a pivotal role in this sector. Electric utilities, specifically those engaged in generating, transmitting, and selling electricity, are exploring DEG through wind, solar, reciprocating engines, and turbines. These entities include publicly owned, investor-owned, nationalized, and cooperative entities. Meanwhile, water utilities focus on water infrastructure development, water treatment services and technology provision, water treatment equipment manufacturing, quality testing, and distribution to end-users. The DEG market is capital-intensive, with domestic companies providing essential services such as timely and safe water and electric distribution, as well as wastewater treatment and electricity generation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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