Smart Grid Landscape in Europe, Outlook to 2020
According to a smart grid report titled ‘Smart Grid Landscape in Europe - Market Size, Key Issues, Regulations, Investment Analysis and Outlook to 2020’, the European smart grid market could share energy from their natural resources. The authors believe that the development of electric vehicles and its market in Europe is dependent on non-financial incentives. The report looks at the European smart grid market in terms of its revenue, growth, government involvement, its different components and by products.
The authors pointed out that the European power market will be able to address the problems related to the high cost of power supply with the construction of a super smart grid (SSG), which interlinks the grids in various European countries. This would facilitate resource sharing, “for instance, the excess wind energy produced in the UK during periods of low demand for electricity could be transferred to Norway and be used to pump water into the country’s hydroelectric power stations. Similarly, during periods of high electricity demand in the UK, electricity produced by hydropower in Norway could be transferred to the UK for consumption.
Non-financial incentives, such as exclusive parking stations for EV owners, reserved traffic lanes and free use of toll roads, can provide extra benefits to EV owners by saving their time and money without costing the government to any great degree. This could lead to EVs becoming a financially viable alternative to internal combustion engine (ICE) vehicles in Europe.
The presence of an untapped market in the European smart grid sector is expected to foster the emergence of new technology vendors. However, these new entrants will need significant capital infusions in order to commercialize their technologies. Venture capital firms can act as possible sources of financing to these new businesses, with the aim of generating a better return on their investments once the technology becomes successful commercially.
The report also provides an outlook on the emergence of smart cities, a super smart grid, microgrids and various other technologies in Europe.
The complete report is available for purchase at: http://www.reportsnreports.com/reports/152353-smart-grid-landscape-in-eu....