Navigant Research Report Shows Global Capacity for Residential Demand Response Programs is Expected to Exceed 47 GW by 2028
North America and Europe will lead capacity growth in residential demand response programs
BOULDER, Colo.–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/DataAnalytics?src=hash" target="_blank"gt;#DataAnalyticslt;/agt;–A new report from Navigant Research examines the global market for residential demand response (RDR) in five major regions, providing global market forecasts for capacity, sites, spending, and revenue for commercial and industrial (C&I) demand response, segmented by region, through 2028.
In place in North America for several decades, demand response programs began expanding globally after 2010, with most countries first implementing C&I programs. While the RDR market remains smaller than its C&I counterpart, utilities and grid operators recognize that aggregated electric RDR capacity can also provide a substantial amount of load reduction or shift to both the capacity and open ancillary service energy markets. Click to tweet: According to a new report from @NavigantRSRCH, global RDR capacity is expected to increase from 13.8 GW in 2019 to 47.4 GW in 2028.
“The residential sector will see increased demand response participation over the coming decade, with the factors driving this growth varying regionally,” says Jessie Mehrhoff, research analyst with Navigant Research. “In more mature markets, new distributed energy resources (DER) technologies and advanced data analytics will drive deeper savings across RDR programs, while regions without RDR in 2019 are expected to launch their first programs in the coming decade.”
Most of the growth in RDR capacity will come from North America, followed by Europe, according to the report. Asia Pacific is projected to see a rise in RDR throughout the forecast but grow relatively slowly. Meanwhile, the Middle East & Africa and Latin America are expected to launch their first RDR programs in 2020 and 2023, respectively.
The report, Market Data: Residential Demand Response, examines the global RDR market in five major geographic regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The study provides an analysis of market issues, including the drivers and barriers associated with global RDR development. Global market forecasts for capacity, sites, spending, and revenue for CIDR, segmented by region, extend through 2028. The report also explores global RDR trends to highlight varying regional activity and markets. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Residential Demand Response, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
This article published with permission from Business Wire