BOULDER, Colo.--(BUSINESS WIRE)--As the power grid moves away from traditional central power plants and toward more distributed energy resources to address future energy needs, demand response (DR) is a growing part of the resource base that electric system operators use to maintain reliability on the grid. Advanced technologies such as automated demand response (ADR), which automates the DR dispatch process without any manual intervention, are helping to speed this transition and enhance reliability along the way. Click to tweet: According to a new report from Navigant Research, the number of ADR-equipped sites worldwide will grow from fewer than 217,000 in 2014 to more than 1.9 million by 2023.
“As more intermittent renewable energy is added to power grids worldwide, more flexible and faster responding resources will be required to help balance loads,” says Brett Feldman, senior research analyst with Navigant Research. “Automated demand response will play a primary role in enabling the demand side to participate in these market opportunities.”
Customer resistance is a key barrier to further ADR adoption. Some customers, in both commercial and industrial (C&I) and residential markets, are reluctant to give up control of its energy usage, according to the report. This reluctance is related to security concerns, production concerns in the case of an industrial facility, and comfort concerns for commercial buildings or households.
The report, “Automated Demand Response”, examines the global ADR market with a focus on two key sectors: C&I and residential. The study provides an analysis of the market drivers and challenges, as well as the key technologies, related to ADR. Global market forecasts for ADR sites, capacity, and spending, segmented by sector and region, extend through 2023. The report also analyzes the competitive landscape of ADR to identify and highlight the strengths and challenges of key players in the market. 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, “Automated 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.