Four key technologies are challenging the traditional relationship utilities have with residential customers
A new 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.
As residential utility customers become more interested in the amount of energy they use and its impact on the environment, distributed energy resources (DER) are proliferating. This interest, and the maturation of DER, is transitioning utility business models away from traditional, centralized power toward a much more diverse and resilient grid infrastructure. Click to tweet: According to a new report from @NavigantRSRCH, annual revenue for the global RDER market is expected to increase from approximately $19.7 billion in 2016 to $92.7 billion in 2025.
“RDER is changing the utility-customer relationship,” says Paige Leuschner, research analyst at Navigant Research. “Residential customers want to generate their own energy, better control their energy use, and be more environmentally friendly as utilities adjust to a more diverse, distributed grid. RDER represent the dynamic new source driving this transition.”
In the residential sector, this transition includes the adoption of distributed solar photovoltaic (PV), distributed energy storage systems (DESSs), electric vehicles (EVs) and EV charging stations, and demand response (DR), according to the report. Despite the differing operating characteristics, these technologies all represent new and dynamic resources that can challenge the traditional relationship that utilities have with their customers.
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 Lorenz
* 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.