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Asia-Pacific Demand Response Market Gets a Boost in the Residential Segment from Smart Meter Rollouts, finds Frost & Sullivan


News provided by

Frost & Sullivan

Aug 27, 2018, 23:24 ET

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Liberalization of the electricity market encourages private participation by companies

SINGAPORE, Aug. 27, 2018 /CNW/ -- Asia-Pacific's liberalized electricity sector is attracting active participation from private companies and customers in the Demand Response (DR) market. Countries such as Japan and Singapore have already developed DR regulations and are in the process of testing DR to assess its viability and arrive at the right mix of incentives to encourage private participation. Most nations will start implementing best-fit solutions post 2020, following which the market is expected to experience accelerated growth.

"While developing countries are yet to take to DR, developed countries like Japan, Australia, South Korea, and Singapore are proving enthusiastic adopters, mainly due to their widespread smart meter rollouts. While commercial and industrial rollouts were completed in most of these countries, residential installations are in progress and will be key to customer participation," said Melvin Leong, Associate Director, Energy & Environment.

"In addition to smart meters, smart home appliances and their interoperability with Home Energy Management Systems (HEMS) will be vital for effective DR operation," he added.

Frost & Sullivan's recent analysis, Growth Opportunities in the Asia-Pacific Demand Response Market, Forecast to 2025, examines market revenue forecast by country, market share analysis, trends for the next eight years, and competitors' capability matrix. It also covers novel business models and analyzes the ability of the current technologies to meet market demand.

For further information on this analysis, please visit: http://frost.ly/2q4

"For efficient communication among connected appliances, the network operation center, and DR Management System (DRMS), these components need to be standardized. Participants are working on addressing this market requirement, as well as the need to incentivize DR programs," noted Leong.

"On the other hand, the absence of government incentives is prompting aggregators to offer free load scheduling services and discounts on DRMS installations, thereby boosting customer participation," he added.

Japan is set to become the largest DR market in Asia-Pacific with accumulated DR resources of 20 GW by 2025, followed by South Korea with 13 GW. There are additional market growth opportunities in:

  • Practicing Posiwatt or reverse DR. In Japan and Australia, where rooftop solar PV is growing rapidly, Posiwatt is likely to be applied to balance excess energy against DR loads. However, the economic feasibility of this model is yet to be tested.
  • Moving to the cloud. With the integration of more resources under the DR aggregation model, the cloud-based DR or Software-as-a-Service (SaaS) model is expected to become popular. This will facilitate the integration of residential resources into the cloud.
  • Adopting energy storage systems. DR is emerging as a secondary revenue model for energy storage systems, which can improve power quality, mitigate renewable energy intermittency, and for backup power.
  • Implementing the emergency DR model. This model is in use in approximately 70 percent of the total DR market. Japan, Australia, and Singapore markets primarily operate on this model.
  • Employing the virtual power plant (VPP) model as distributed generation and distributed DR increase in countries like Japan and Australia.
  • Offering implicit DR pricing models.

Growth Opportunities in the Asia-Pacific Demand Response Market, Forecast to 2025 is part of Frost & Sullivan's global Energy & Environment Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Growth Opportunities in the Asia-Pacific Demand Response Market, Forecast to 2025
P9DA-74

Contact:

Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: [email protected]

http://ww2.frost.com

Tags: #FrostandSullivan, #DigitalTransformation, #DR, #SaaS, #cybersecurity, #DemandResponse, #HEMS, #DRMS, #Posiwatt, #ReverseDR, #emergencyDR, #VPP

SOURCE Frost & Sullivan

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