Electric energy efficiency spending by governments and utilities is forecast to increase from nearly $30 billion in 2019 to nearly $60 billion by 2028, according to a report from Navigant Research.
Machine learning, artificial intelligence, and advanced metering infrastructure (AMI) are improving the analytics associated with energy savings and allowing for more targeted, strategic implementation of programs.
This approach allows the benefits of energy efficiency to move from overall load shaping to targeted relief of transmission and distribution (T&D) infrastructure at critical points on a utility’s energy grid, according to the report.
“Programs continue to expand and touch new utility customers in Asia Pacific, Latin America, and the Middle East & Africa, and although program expansion is less of a focus in North America and Europe, utilities are working to design new programs and drive deeper savings in existing programs,” Jessie Mehrhoff, research analyst with Navigant Research, said.