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Investments in smart grids to double by 2015

Posted: 05 Dec 2011     Print Version  Bookmark and Share

Keywords:smart grids  smart meters  advanced metering infrastructure  research 

Total global spending on smart grid technologies will reach about Rs.4.48 lakh crore ($100 billion) in 2011, and those annual investments are forecast to nearly double to Rs.8.83 lakh crore ($196.9 billion) in 2015.

According to IC Insights new study, smart grids and advanced metering infrastructure (AMI)—with the installation of 'smart meters'—promise to bring major changes to home appliances and other residential electrical systems so that they can interact and communicate with power-utility companies and customers.

However, these annual figures exclude renewable energy systems, power plants, and 'smart' home appliances, but cover the smart grid infrastructure, electrical storage systems, smart meters, and information technology investments.

Smart grids will have the ability to communicate with energy-efficient buildings and 'smart' home appliances to save electricity costs and automatically balance loads (consumption) with the output of existing power plants and the network's overall capacity. Future grids will also employ distributed electrical-energy storage systems to handle peak-demand periods while lowering the need for additional power plants. And, smart power grids are also being designed to accommodate large-scale recharging of electric vehicles and plug-in hybrid gasoline (petrol?)/ electric cars later this decade. Smart-power grid technologies are also necessary to add new renewable energy sources to the public electricity networks—such as solar-photovoltaic panels and wind turbines.

Smart Grids market data

Global Smart Grd Investment Forecast.

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