Global Demand Response (DR) Market to Grow at a CAGR of 15.85% During 2017-2021 - ABB, CPower, EnerNOC, Itron (Comverge), Schneider Electric, Siemens

Albany, NY -- (SBWIRE) -- 07/14/2017 -- Demand response (DR) is defined as the change in power consumption by a utility's customers to reduce the gap between demand and supply of electricity. DR solutions help capture the benefits of time-based rates or financial incentives by consumers. This is done by reducing or shifting their electricity consumption during the peak hours of demand. DR further helps electricity providers to decrease costs by reducing the peak demand and prevents power companies from investing in new plants to meet the excess energy demand. Thus, the power and energy industries consider DR programs as an extremely valuable resource whose capabilities are expanded by grid modernization efforts.