Distributed Generation Market Poised to Grow Substantially due to Increasing Adoption of Renewable Energy Resources
Distributed generation refers to the production of electricity from multiple small-scale energy sources that are located close to the point of use. They include small-scale solar photovoltaic (PV) systems, wind turbines, reciprocating engines or fuel cells. Distributed generation provides several advantages over centralized power generation such as less transmission and distribution losses, improved power quality and reliability. It also helps in reducing carbon emissions. The increasing demand for reliable and uninterrupted power coupled with supportive government policies around the globe promoting the use of renewable energy have spurred the adoption of distributed generation systems in recent years. The Global distributed generation market is estimated to be valued at US$ 364.46 Billion in 2024 and is expected to exhibit a CAGR of 14.% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the distributed generation are Siemens AG, General Electric (U.S...