Europe's Smart Meter Deployment to Reach 238 Million by 2020
While much of the smart grid development in Europe mirrors programs underway in North America and other parts of the globe, there are important differences in priorities and emphasis. In particular, aggressive goals for energy efficiency and carbon emissions reductions are major drivers for smart grid and smart meter deployments in Europe. Over the next five to 10 years, these deployments will be closely linked with the achievement of 2020 carbon reduction goals in the European Union.
According to a recent report from Pike Research, cumulative investment in smart grid technologies within the region will total $80.3 billion by 2020. In addition, the cleantech market intelligence firm anticipates that by 2020, 238.4 million smart meters will have been deployed across Europe.
“Smart grid development is really part of a unique transformation taking place across European energy networks, industry, and society over the next 40 years,” says senior analyst Eric Woods. “The smart grid is at the heart of energy and environmental policies that cover 27 countries and 500 million people.”
While Germany, the largest electricity market in the EU, supports a wide range of smart grid and smart meter pilots, little has happened in the way of a large-scale deployment. In Sweden, by contrast, an early commitment to smart metering has led to a prominent position in the overall European smart grid movement. The implementation of a continent-wide smart grid requires a systemic view that can grasp both interrelated technological and market issues and the challenges of integrating widely varying national systems.
Among the critical issues to be addressed is the development of European standards for smart meters and smart grid deployments, the demonstrated ability to address privacy and security concerns, the creation of a realistic roadmap for large-scale deployment, and the formulation of suitable investment and incentive models by regulators.
Pike Research’s report, “Smart Grids in Europe”, examines smart grid trends in Europe and forecasts the size and growth of the market for smart grid technologies through 2020. The study forecasts smart meter deployments across Europe through 2020. The report examines the developments in European energy policy, the similarities and differences across European countries, national strategies for smart grids and smart meters, and specific European projects and pilots for smart grids.
It also provides detailed profiles of ten major European countries and insight into several other key projects. The report analyzes the strategies of key players in the European market and the role of European standards bodies and other agencies promoting the adoption of smart grids.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors.