Solar PV and Energy Storage to Propel the European Direct Current Power Market to 40 million by 2025
February 27, 2018 --
Frost & Sullivan’s latest analysis, European DC Power Distribution Market, Forecast to 2025, finds the market is expected to reach $40.1 million in 2025 with a compound annual growth rate (CAGR) of 31.2% over the forecast period 2017-2025, driven by the increasing integration of solar photovoltaic system (PV) and energy storage in residential and commercial buildings.
Despite combined savings opportunities from direct current (DC)-powered LED lighting and energy efficiency regulations and targets, the market is challenged by strong barriers such as existing AC infrastructures and lack of DC-ready end-user products, according to the report.
“The United Kingdom, Ireland, Germany, France, Switzerland, Netherlands, and Nordic countries will witness faster growth than other countries due to energy efficiency renovations and successful pilot project implementations,” said Anirudh Bhaskaran, Energy & Environment Industry Analyst at Frost & Sullivan. “Office, retail, and industrial warehouses will be immediate targets with LED lighting serving as the gateway for participants to enter the DC power distribution market.”
Currently, generation, transmission, and distribution systems associated with the grid are built around AC technology. Therefore, implementation of the DC infrastructure will pose a huge challenge for governments, utilities, and manufacturers,” observed Bhaskaran. “To overcome this hurdle, stakeholders will need to come together to frame a pathway for the adoption of DC products and demonstration of benefits of DC power in commercial buildings.”
European DC Power Distribution Market, Forecast to 2025 is part of Frost & Sullivan’s Energy & Environment Growth Partnership Service program.
For additional details on the report, click here
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