We have all been on Zoom calls instead of meeting in person. Our computers, cameras, and nearly everything takes electricity.
Virtual power plants do NOT generate electricity but, they do aggregate the generation of various sources and allow the power to be traded or sold.
A virtual power plant does 2 things. It gathers up demand from real solar panels, wind turbines, or other installed generation sources. It then allows that demand to be sold, tracked, and paid.
Its use is being explored. Consider the home or business that has solar PV generation that can shut down some equipment (think of turning off your AC). Then the solar power you would’ve used to run your AC system can be sold into the market.
A virtual power plant is a marketplace where those with generation can sell some of their production. And you won’t need a Zoom meeting to get it done.
This is an interesting way to allow free-market powers to address power market demand and supply.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: https://www.alliedmarketresearch.com/virtual-power-plant-market