Greentech Lead Middle East: Jordan is planning to
explore smart grid upgrades across its electricity network after the United
States Trade and Development Agency (USTDA) awarded grants for feasibility
studies.
The funding is expected to assist the Electricity
Distribution Company (EDCO), Irbid District Electricity Company (IDECO) and the
Jordanian Electric Power Company (JEPCO) to explore smart grid options for
their networks. Part of the studies will involve an analysis of the United
States’ smart grid technologies and expertise, and will also consider energy
efficiency and system management.
“These grants demonstrate the commitment of the US
government and Jordanian private sector to work together to improve Jordan’s
energy infrastructure and decrease reliance on imported energy resources. The
grants have a combined value of over US $1 million,” said US ambassador to
Jordan Stuart Jones.
The studies are intended to include plans for a smart
metering implementation across the grid, and are part of the Jordanian
government’s plan to improve grid reliability whilst reducing costs, according
to a media report.
Global Smart Grid market needs investment of $155 billion by
2018
Investments in Smart Grid business will require 50
percent larger than the current annual expenditure for all electrical
transmission and distribution equipment by 2018. An investment of $155 billion
is required for major restructuring of both the supply and demand side if a truly
Smart Grid is to be realized.
Memoori’s
research report, The Smart Grid Business 2011 to 2016, forecasts that $2
trillion will need to be invested globally by 2030 where sales of Smart Grid
systems in 2010 stood at $16 billion.
According to the research, the need to reduce CO2 emissions within the
existing electricity production and supply grid will drive the future growth of
this business.