The global annual spending on self-consumption enabling technologies for distributed energy resources (DER) is expected to reach $192 billion in 2027.
Navigant Research forecasts the 2018 spending to reach $70.8 billion by the end of the year as self-consumption is becoming the most important business model for selling DER in markets with few incentives.
Revenue generation within the market is expected to be distributed almost evenly between Asia Pacific (38%), North America (32%), and Europe (26%).
Latin America and the Middle East are expected to account for 3% and 1% share of the market, respectively.
Roberto Rodriguez Labastida, a senior research analyst at Navigant Research, said: “The technologies needed to increase self-consumption are available today, but they have been developed in their own silos, which is why few integrated solutions exist in the market.
“Instead, the focus is on technologies that enable the deployment of self-consumption-focused installations but are not necessarily deployed as an integrated system, including energy-focused technologies as well as some that are part of the wider smart home or Industrial Internet of Things ecosystems.”