Dynamic Volt/VAR Control Architectures Will Reach Nearly $3 Billion in Annual Revenue by 2023, Forecasts Navigant Research
Utilities are beginning to deploy DVCAs across the power grid, report finds
BOULDER, Colo.--(BUSINESS WIRE)--As electricity loads become more variable and intermittent sources become a larger portion of the energy supply, the power grid will need to become more flexible and more efficient. Dynamic voltage and volt-ampere reactive (VAR) control architectures (DVCAs) are increasingly essential to achieving cost-effective performance expectations. Click to tweet: According to a new report from Navigant Research, worldwide revenue from DVCA technologies will grow from $734 million in 2014 to $2.9 billion by 2023.
“DVCA will relieve congestion and effectively free up capacity in a more predictable and manageable fashion, without service interruptions.”
“Most of the technology needed to realize DVCA already exists, as rapidly increasing levels of intelligent electronic devices, communications, and information technology are already being leveraged in distribution systems,” says James McCray, senior research analyst with Navigant Research. “DVCA will relieve congestion and effectively free up capacity in a more predictable and manageable fashion, without service interruptions.”
While dynamic and integrated volt/VAR control (VVC) is not in place in its entirety anywhere in the world yet, there are significant development and standardization initiatives. Many major utilities have one or more forms of DVCA solution in pilot scale, according to the report, while others are embarking on system-wide implementation in the medium-voltage network, and a few are already tuning DVCA systems for full production.
The report, “Dynamic Volt/VAR Control Architectures”, analyzes the global market for DVCA solutions and components, with a focus on communications, VVC devices, distribution management system (DMS) VVC applications, and VVC analytics. It provides an analysis of the market issues, including trends, drivers, and benefits, related to DVCA solutions. Global market forecasts for revenue, segmented by region, solution type, and component segment, extend through 2023. The report also examines the key technologies, as well as the competitive landscape, associated with DVCA systems and solutions for the medium-voltage and low-voltage distribution grid. 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 the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Dynamic Volt/VAR Control Architectures,” 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.