Virtual Power Plant Market Size

Virtual Power Plant Market size was valued at USD 1.83 billion in 2024 and is likely to cross USD 40.5 billion by 2037, registering more than 26.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of virtual power plant is estimated at USD 2.25 billion.

on account of the increasing demand for cheap and renewable energy sources among people around the world. In 2019, more than 7000 TWh of energy worldwide was generated by renewable sources. Along with these, ease of implementation and flexibility in trading associated with virtual power plants are other factors which are estimated to drive market growth in the coming years. Furthermore, as virtual power plants are considered to be more cost-effective and require minimum maintenance effort compared to the conventional power plants, the market is expected to witness ample expansion opportunities over the forecast period.