Smart grid technologies market to reach $65 billion by 2017

Smart grid technologies market to reach $65 billion by 2017

Greentech Lead Asia: Spending on smart grid technologies
is expected to reach $65 billion by 2017.

This will include smart meter implementations, upgrades
to transmission and distribution infrastructure.

Transmission and distribution (T&D) investments are
expected to account for the lion’s share of smart grid investments up until
2017.

On a cumulative basis, almost $278 billion will be
invested in T&D infrastructure by this time, compared to $48 billion for
the purchase of smart meters, illustrating a smart grid opportunity that goes
way beyond advanced metering infrastructure.

The main driver will be major utilities’ plans for
connecting grid assets such as substations, capacitor banks, and transformers
to their head-end systems for improved monitoring, control, and automation.

Since much of the electricity infrastructure is
inefficient, and cannot manage the loads without significant upgrades taking
place, there will be significant investment in smart grid technologies.

As climate change is high on the political agenda,
utilities will increase operational efficiencies. The smart grid will soon
become a reality with large-scale smart metering deployments, which are the
most visible example of these efforts.

“A number of major utilities throughout the world are
either actively engaged in or planning the enormous task of connecting grid
assets such as substations, capacitor banks, and transformers to their head-end
systems for improved monitoring, control, and automation,” said Craig Foster,
senior analyst, home automation and M2M, ABI Research.

ABI Research’s new study, Smart Grids analyzes the market
for smart grid equipment and services for the 2011-2017 period, covering
Asia-Pacific, Europe, the Middle East and Africa, North America, and Latin
America.

It provides the outlook for smart meter deployments and
associated revenues, electric vehicle charging station installations, and
spending on smart grid-related transmission and distribution (T&D)
infrastructure. Also presented is a quantitative analysis of specific smart
grid-related components at the utility level, such as synchrophasors, and home
energy management systems.

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