Virtual Power Purchase Agreement Market Size To Grow USD 421.23 Billion By 2033 | CAGR of 39.42%
Virtual Power Purchase Agreement Market Overview: Virtual Power Purchase Agreement Market Size is predicted to develop at a compound annual growth rate (CAGR) of 39.42% from 2024 to 2033, when it is projected to reach USD 421.23 billion, based on an average growth pattern. The market is estimated to reach a value of USD 53.1 billion in 2024. A Virtual Power Purchase Agreement (VPPA) is a legal contract that facilitates the purchase of renewable energy between a buyer, usually a corporation or institution, and a developer of renewable energy. Virtual Power Purchase Agreements (VPPAs) enable buyers to virtually procure renewable energy, as opposed to traditional Power Purchase Agreements (PPAs), which involve the physical delivery of electricity to the buyer's facilities. In this scenario, the electricity produced by the renewable project is sold into the wholesale market, and the buyer receives financial benefits commensurate with the agreed-upon amount of renewable energy. ...