Distrubuted Energy Resources Proliferates
In light of the recent proliferation of Distributed Energy Resources (DER), global revenue for grid edge monitoring and control technologies support an estimated global revenue of $14.5 billion annually by 2024.
According to a new report from Navigant Research, DER technology represents the opportunity for smaller power sources that can be aggregated to provide the power necessary to meet regular demand. As electricity grids continue to modernize, DER, in the forms of storage and advanced renewable technologies, can help facilitate the transition to a smarter electricity grid.
Market liberalization, economic pressures, and environmental regulations are currently moving the global utility industry down a path of fewer centralized power plants, and towards more DER's in order to address future energy needs.
As DER proliferation increases, utilities are expected to adopt grid edge monitoring and control technologies, enabling the proactive development of markets for aggregated clean resources and services, service-oriented business models, and end-to-end integrated grid management strategies.