in News Departments > New & Noteworthy
print the content item

The market for smart grid technologies will reach $73 billion in annual revenue by the end of 2020, totaling $461 billion in cumulative revenue from 2013 to 2020, according to a report from Navigant Research.

Although the market for smart grid technologies is already established, representing more than $33 billion in revenue in 2012, the report says the sector has grown with little contribution from a number of countries with populations greater than 100 million, and with almost no activity in Africa, with its population of 1 billion. Navigant says this suggests that the market is likely to continue robust growth for the foreseeable future.

“Smart grid technologies improve the reliability and efficiency of the power grid via the application of modern IT capabilities alongside or in place of existing utility assets and networks,” explains Bob Lockhart, research director with Navigant Research. “However, the term ‘smart grid’ has been overused to the point of losing its meaning. A more precise definition includes five key applications: transmission upgrades, substation automation, distribution automation, smart grid information and operations technology, and smart metering.”

Of these five, by far the most capital-intensive application is transmission upgrades, which require substantial infrastructure investments, according to the report. Transmission upgrades will represent nearly $250 million in revenue from 2013 to 2020, or more than half the total for the overall smart grid technology market, the study concludes.


Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

Two Years After Superstorm Sandy, Utilities Highlight Grid Efforts

As the U.S. reflects on the monster hurricane that struck in October 2012, utilities note what they have done to help protect against future severe weather.


USDA Invests $1.4 Billion To Boost Rural Grids Around The Country

The U.S. Department of Agriculture (USDA) has announced more loan guarantees for rural power companies and renewable energy firms in 21 states.


SPP Raises Concerns About EPA's Proposed Clean Power Plan

Stakeholders around the U.S. are mulling over the Environmental Protection Agency's blueprint to cut emissions from existing power plants. The Southwest Power Pool has released its assessment of the plan.


Comverge, Constellation To Merge Demand Response Businesses

The two companies have announced a deal to combine their DR operations serving commercial and industrial customers and establish a new, standalone entity.


Grid-Scale Energy Storage Continues Making Inroads

A new report from Navigant Research highlights the biggest markets and most popular technologies for grid-scale energy storage.

S&C Electric_id176
edf_id180