Russia's smart grid market is poised to grow from $5.5 billion in 2012 to $15.7 billion in 2017, according to a new report from Zpryme.
Russia is the world's third largest consumer of energy. Driven by a unified effort to showcase the country's economic strength during the 2014 Winter Olympics and the 2018 World Cup, Russia is aggressively pursuing much-needed infrastructure investments in its electrical infrastructure, the report says.
Average losses in electric networks in Russia are about 12-14% compared with 4-9% in Europe, and Zpryme says that substantial reduction in grid losses cannot be achieved using current equipment and control mechanisms. New equipment, control principles and better topological layout will, therefore, have to be deployed to drive increases in grid efficiency.
After two decades of deferred investment, in 2010, the nation indicated it was prepared to spend some $15 billion in the next several years to upgrade its utilities using smart grid and energy storage technologies, the report adds.
For more information on Zpryme’s report, click here.
