The global annual revenue from distributed energy resources (DER) capacity is expected to increase by 15.9% between 2019 and 2028.
The revenue for the DER capacity is expected to grow from $172.5 billion to $649.6 billion.
According to Navigant Research, driving the revenue growth is the rapid expanding investments in DERs as part of efforts to shift centralised, one-way electrical grid to two-way communicating.
A market trend is an increase in regulators and grid operators working to understand the evolving landscape that is redefining the relationship between utilities and customers.
Advanced software and hardware are expected to enable utilities to improve their control of DERs.
Roberto Rodriguez Labastida, senior research analyst at Navigant Research, said: “The global proliferation of DER has begun to have a significant influence on the electricity grid and industry.
“Initially, DER was used at the market edge, where conventional power was difficult and expensive to provide. However, technology advances, business model innovation, changing regulations, and sustainability and resilience concerns have brought DER into the core of future deployment of energy infrastructure.”
For more information about the report, visit Global DER Overview