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

To Help Combat Costly Electricity Theft, Emerging Markets Turn To Smart Grid Infrastructure

According to a new report, the world loses a whopping $89.3 billion to electricity theft annually, and emerging country markets are feeling a majority of the pain.


Report: Utilities Face Big Revenue Cuts From Distributed Energy Resources

According to a new report from Accenture, the growth of solar and other resources, such as energy storage, could mean significant losses for utilities.


NextEra To Acquire Hawaiian Electric In $4.3 Billion Merger Deal

If approved, the agreement between the two energy companies would produce one of North America's largest renewable energy players.


EPA Racks Up Over 1.6 Million Comments On Carbon Pollution Plan

Months after the U.S. Environmental Protection Agency released its Clean Power Plan, which will create new regulations for existing power plants, the agency says it has received loads of feedback to consider.


Smart Grid Interest Continues To Spread Among U.S. Rural Utilities

A new survey gauges rural smart grid efforts across the country and offers key findings, one of which is that nearly all utilities polled are doing something to modernize their systems.

S&C Electric_id176
edf_id180