Utility business
models are continuously evolving from traditional electricity generation models
to new business models such as distributed generation models to cut costs and
improve transmission and distribution efficiencies. Distributed generation
refers to localized power generation using solar panels and other low-cost
technologies to produce electricity close to the point of consumption.
Consumers are switching to more cost-effective and controlled distributed
generation networks, therefore electric power generation companies should now
focus on distributed generation rather than a centralized electricity
generation model. Also, many companies
are using new revenue models and incentives instead of traditional
cost-of-service models. For instance, New York’s (Reforming Energy Vision) REV
docket is focused on distributed generation and performance-based incentives to
push utilities to serve grid needs. Electric utilities in states like
California, Minnesota and Massachusetts are also involved with the REV
initiative. According to Citigroup, in next two decades the European
decentralized electricity market will grow to one-third of total utility
market.
THE BUSINESS RESEARCH COMPANY EXPECTS THE global generation, transmission, and
distribution market TO GROW TO $3 TRILLION BY 2021
Asia Pacific was the largest region in the
generation, transmission, and distribution market in 2017, accounting for $1 trillion
or over 40% market share. This was mainly due to the presence of a large number
of households, industries and power generation companies in the region.
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and distribution market report at:
The chart below shows the year-on-year
growth of the global generation, transmission, and distribution market.
According to The
Business Research Company’s Consultant, Nitin Gianchandani, electric power generation companies are increasingly using batteries to
store solar energy during daylight hours. These energy-storage sites consist of
large lithium-ion batteries. These batteries store enough energy to serve as a
back-up in case of fuel shortages. They are designed to absorb solar power and
feed it back to the grid. These systems minimize the need for capital intensive
power generation plants, thereby enhancing transmission and distribution
efficiencies and thus reduce operational costs. For example, San Diego Gas
& Electric operations center has installed energy-storage systems with big
batteries to store electric power. Arizona Public Service Co. has installed a
$2 million battery system in Phoenix to store energy. In 2016, lithium-ion
battery prices fell by 70% and are expected to shrink further in future, thus
driving their use in power grids.
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Électricité de France (EDF) was the largest
company in the generation, transmission and distribution market, with revenues
of EUR 16.2 billion ($78.8 billion) for the financial year 2016. EDF's growth
strategy aims to increase power generation from renewable sources. The company
spent around €840 million to upgrade the French hydro fleet during the period
2014 to 2021. EDF also plans to construct three new wind farms in France to
expand its production.
The generation, transmission, and
distribution market is segmented into Electricity Generation and Electric Power
Transmission, Control And Distribution.
Electricity
Generation segment includes power generation
companies that produce electricity using a variety of sources such as hydro,
fossil fuels, solar, nuclear wind and biomass.
Electric
Power Transmission, Control, and Distribution
segment includes establishments involved in operating electric power
transmission and distribution systems that control the transmission of
electricity from the source to consumers.
Generation, Transmission, And Distribution
Global Market Report 2018 is a detailed report giving a unique
insight into this market. The report is priced at $6000 for an individual user.
To use across your office, the price is $9000 and $12000 if you wish to use
across a multinational company.
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