In a new report examining the global deployment of smart grid technologies and services from the perspective of growth and market share, GTM Research is expecting Smart Grid Market to Surpass $400 Billion Worldwide by 2020. The report looks at the trend of the smart grid market for the next seven years (2013-2020). GTM are predicting an average compound annual growth rate of over 8%, with China being the largest smart grid market in the world, accounting for over 24% of the global market.
The smart grid market is expected to be a major growth area over this decade to 2020, based on research done by Navigant Research. In their report titled “Smart Grid Technologies”, they expect the smart grid market to worth $73 Billion in annual revenue by the year 2020 from today’s $13 Billion. Another interesting prediction is that Mexico smart grid market alone will worth about 10 per cent of world the world’s annual revenue.
Masers Energy Malaysia has announced plans to develop Malaysia’s first Smart Grid City and Green Special Economic Zone at cost of US$72 billion (RM228.6 billion). The project is base in the "The Historic State" of Malacca, to make it the country’s only carbon free zone. Masers hope to offer a total of 100MW renewable solar energy at the end of the project.
Illinois base ComEd is to invest US$2.6 Billion over the next 10 years upgrading its electrical grid infrastructure across the Chicago area. Part of the project is to install 4 million smart meters into homes and business, for this they have selected GE on a $200 million contract. The whole project is scheduled to start this year and run until 2021 and will modernise ComEd grid facilities and while creating jobs for locals.
Through the Energy Highway Blueprint initiative, New York’s power grid is to go through a major infrastructure upgrade to allow the system to use mix power source. Governor Andrew Cuomo announced that an estimated $10 million is available to fund projects that will help the city’s grid infrastructure to be cleaner, more efficient and cost less to operate.
According to a report entitled “South America Smart Grid: Market Forecast (2013-2023) Volume II “ from Northeast Group, the cumulatively spend on smart grid in South America is expected to reach $49.8 billion by 2023. This spending will be allocated across the five segments of advanced metering infrastructure (or "smart meters"), distribution automation, wide area measurement, home energy management and information technology.
C3 Energy today releases three new smart grid analytics applications (C3 Asset and System Risk, C3 Customer Reliability and Safety, and C3 Grid Investment Planning) for the utility sector. C3 also announced C3 AMI Operations, an application that enabling utilities to track the deployment status and operation of AMI meters.
Today in Saudi Arabia AEC, ICT Europe and Enel signed a joint partner agreement to support the development of smart grid within the Gulf Cooperation Countries (GCC). The collaboration is a response to the Saudi Arabia Kingdom’s plans to embrace smart grid technology. AEC will join their expertise in Electronics with Enel’s utility experience and the financial resources of ICT Europe.
AT&T has become the sole provider for PayGo's utility payment solutions in the U.S. Through an exclusive agreement with PayGo, AT&T will allow users to pay their energy bill how they want, when they want and virtually anywhere they want using smartphones, text messages, kiosks, the internet or by phone.
At this year's Metering, Billing/CRM Asia 2013 Mitsubishi Electric announced plans to grow its smart meters business globally in collaboration with Echelon. Mitsubishi said they will integrate Echelon's Open Smart Grid Protocol (OSGP) into its new line of smart meter products, which are designed for the global market.