Indian smart grid market to grow at 16.4% CAGR in 2014-18

China Smart grid

Smart Grid Market in India is expected to grow at a CAGR of 16.4 percent from 2014-2018, says research firm TechNavio.

Disagreements between power demand and supply have resulted in the growth of the smart grid market in India.

The use of smart grids ensures the implementation of end-to-end bi-directional energy systems through integration of renewable sources and smart distribution and transmission.

They also facilitate the sustainability of energy through various management adoptions and demand-response systems.

In addition, they help to reduce Aggregate Technical and Commercial (AT&C) losses.

smart-grid-coe

Smart grids enable consumer side energy management by interconnecting various energy management systems and allowing greater control of the appliances and equipment in the home and workplace, thus enabling consumers to lower their energy consumption, says, Faisal Ghaus, Vice President of TechNavio.

The Government of India is considering exempting smart grid foreign investment from all foreign direct investment conditions, says Ghaus.

A major challenge affecting smart grid implementation in India is availability of funds.

Government has set new policies to simplify the process of foreign investment in the power and construction sectors.

The five major vendors in the Smart Grid Market in India are ABB, GE, L&T, Schneider Electric and Wipro.

Sabeena Wahid
[email protected]