Distributed Generation Market | Exactitude Consultancy Reports

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Global Distributed Generation Market Overview
The global Distributed Generation Market size is expected to grow at more than 12.37% CAGR from 2023 to 2029. It is expected to reach above USD 697.83 billion by 2029 from a little above USD 243.07 billion in 2020.

The increasing need for power, the expansion of government programs to reduce greenhouse gas emissions, and the falling cost of solar energy are the main drivers of the global distributed generation market. Energy that is produced and used simultaneously is referred to as distributed energy. The capacity of distributed generation to meet the energy requirements of a specific residential or commercial unit is what is driving the need for distributed energy. Demand for distributed generation is being heavily influenced by the growing requirement for a reliable and effective power supply. The expansion of the global distributed generation market is being aided by rising government initiatives and regulations to reduce greenhouse gas emissions as well as expanding use of green energy. The adoption of advantageous rules for the use of renewable energy sources by many state and municipal governments is fueling industry expansion. Additionally, it is predicted that increased market growth would result from increased investments in the research and development of new technologies for distributed generation.

Segment Analysis
Based on the technology, fuel cell segment dominated the global distributed generation market. This market has grown as a result of the rising use of fuel cells in distributed generation systems due to its high efficiency, low emissions, and capacity to transform chemical energy into electrical energy, among other advantages. During the projection period, the solar PV segment is anticipated to develop at the fastest rate. Demand for the solar PV distributed generation industry has risen as a result of government incentives for the use of solar energy and recent drops in the price of solar equipment.

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