Solar PV is the most common renewable distributed generation technology
A recent report from Navigant Research analyzes the global market for residential distributed energy resources (RDER), with global market forecasts for the power capacity and revenue of key technologies, through 2025.
Four technologies are anticipated to transform the electric utility industry and utilities’ relationships with customers. Electric vehicle charging, distributed solar PV, distributed energy storage, and demand response (DR) are becoming increasingly mature and more popular among consumers interested in RDER. Click to tweet: According to a recent report from @NavigantRSRCH, revenue for the RDER market is expected to total $423 more than $423 billion from 2016 to 2025.
“Consumers are becoming more environmentally conscious and aware of their energy use, which is driving uptake in technologies that enable them to produce energy or offset consumption,” says Paige Leuschner, research analyst with Navigant Research. “Demand response and solar PV are expected to lead the residential market.”
Distributed solar PV systems present perhaps the most significant challenge to incumbent utility business models, according to the report. Utilities must ensure that power from solar PV matches the voltage, frequency, and power quality of the grid, but also that solar does not threaten electricity sales as more consumers and communities rely on solar to generate their own energy.
The report, Market Data: Residential Distributed Energy Resources, examines the global RDER market, with a focus on four key technologies: EV charging, distributed solar PV, DESSs, and residential DR (RDR). The study provides an overview of these major technologies, as well as other RDER technologies such as gensets and fuel cells. Global market forecasts for the power capacity and revenue of each technology, broken out by technology and region, extend through 2025. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: Residential Distributed Energy Resources, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.