U.S. Virtual Power Plant Market Size & Outlook, 2023-2030
The virtual power plant market in the United States is expected to reach a projected revenue of US$ 3,997.2 million by 2030. A compound annual growth rate of 19.2% is expected of the United States virtual power plant market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,167.0
Forecast, 2030 (US$M)
$3,997.2
CAGR, 2024 - 2030
19.2%
Report Coverage
U.S.
U.S. virtual power plant market, 2018-2030 (US$M)
Related Markets
U.S. virtual power plant market highlights
- The U.S. virtual power plant market generated a revenue of USD 1,167.0 million in 2023 and is expected to reach USD 3,997.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 19.2% from 2024 to 2030.
- In terms of segment, demand response was the largest revenue generating technology in 2023.
- Mixed Asset is the most lucrative technology segment registering the fastest growth during the forecast period.
Virtual power plant market data book summary
| Market revenue in 2023 | USD 1,167.0 million |
| Market revenue in 2030 | USD 3,997.2 million |
| Growth rate | 19.2% (CAGR from 2023 to 2030) |
| Largest segment | Demand response |
| Fastest growing segment | Mixed Asset |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Distributed Energy Resource, Demand Response, Mixed Asset |
| Key market players worldwide | Siemens, Toshiba Corporation, Next Kraftwerke, Hitachi Ltd, ABB Ltd, Tesla Inc, Autogrid, Limejump, Sunverge Energy, Centrica PLC |
Other key industry trends
- In terms of revenue, U.S. accounted for 28.3% of the global virtual power plant market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. virtual power plant market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,360.8 million by 2030.
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Virtual Power Plant Market Scope
Virtual power plant market segmentation & scope
Virtual Power Plant Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. virtual power plant market size, by technology, 2018-2030 (US$M)
U.S. Virtual Power Plant Market Outlook Share, 2023 & 2030 (US$M)
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