Global Smart Grid market to peak at $155bn in 2018: Memoori Research

Global Smart Grid market to peak at $155bn in 2018: Memoori Research

 

By
GreenTech Lead Team:
Investments in smart grid business will need
50 percent larger than the current annual expenditure for all electrical
transmission and distribution equipment by 2018. An investment of $155 billion
is required for major restructuring of both the supply and demand side if a
truly “Smart” Grid is to be realized, according to Memoori Research.

Memoori’s research
report, The Smart Grid Business 2011 to 2016, forecasts that an awesome $2
trillion will need to be invested globally by 2030 where sales of Smart Grid
systems in 2010 stood at just $16 billion.

The
research finds  that
the need to reduce CO2 emissions within the existing electricity production and
supply grid will drive the future growth of this business. To reduce CO2
emissions the grid must be able to incorporate renewable electricity production
from a multitude of distributed sources and be capable of matching the supply
of electricity with demand at the point of usage and in real time.

The
investments in this sector have grown from $134 million in 2007 to $10.6
billion in 2011. Both the growth and now scale indicate the supply side is
gearing up to meet the requirements of new technology and forecast demand for
pure Smart Grid products and systems.

Investment
in the market is also on the increase with venture capital companies committing
some $1 billion per year in 2010 and 2011 to Smart Grid suppliers. But these
investments are not sufficient to meet the demand, and clearly showing the
business still has a long way to go, the report said.

 

According
to Pike Research, The global remote microgrid market will expand from
349 megawatts (MW) of generation capacity in 2011 to over 1.1 gigawatts (GW) by
2017.

 

 editor@greentechlead.com