Demand Response - Global Market Sizing, Analysis and Forecasts to 2020
Demand Response - Global Market Sizing, Analysis and Forecasts to 2020
Demand response plays a key role in the design of electricity markets. As demand response indicates the ability of electricity demand to react to real time electricity prices, it offers several benefits to all types of electricity consumers. These benefits include relief from generation and transmission constraints, control over wholesale price hikes, and reduced overall energy prices. It has been widely believed that implementation of demand response or price-responsive load at retail level would result in effective wholesale electricity market. In the pre-smart grid era, utilities implemented demand response programs to curtail load during peak demand or periods of peak prices. However, a new age of demand response is evolving globally with the traditional grids gradually transforming into smart grids.
The integration of grid's operation with residential load has been a key objective of the smart grid. Despite the distributed nature of residential devices, their correlation with peak load has created a lot of interest. In the past, direct load control with disconnect switches were used to reduce power to devices. Whereas, in smart grid, communication-connected devices respond to grid conditions, improving energy savings and customer comfort. Using new demand response technologies, such as smart thermostats, in-home displays and home energy managers, a residential customer can access real-time meter readings, cost and trend information, and load measurement. These technologies also provide a bi-directional connection to utility systems. This benefits utilities in the form of increased program subscription.
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The global demand response capacity under management, which is estimated in the range of 37GW in 2009, is projected to grow at a significant rate over the period 2009-2020. The revenues earned by the utilities and third party demand response aggregators for managing demand response capacity is also projected to witness similar growth rate over the analysis period. In terms of total demand response capacity under management globally, the Commercial & Industrial sector accounts for a lion's share, as the residential demand response largely depends on the smart meter penetration. Among all the potential markets for demand response, the US is the largest in terms of total demand response capacity under management. The US has the most number of third party demand response service providers in the world
GlobalData's "Demand Response Global Market Sizing, Analysis and Forecasts to 2020" provides analysis of the global demand response capacity under management and revenues for the period 2009-2020. The report provides key drivers and restraints impacting global demand response market. The report also includes market sizing, and forecasts for key potential markets of demand response, besides policy and regulations. It also provides competitive landscape for the key players in the US demand response market.
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