Greentech Lead in America: More than 75 percent of all US
electric meters will be converted to smart meters by 2016, providing a wealth
of information to both electric utility companies and consumers, according to
In-Stat.
With more than 3,000 utilities, local municipalities, and
private companies operating America’s electrical grid, upgrading the electric
grid will be a major effort. However, NPD In-Stat believes that the conversion
to smart meters will accelerate over the next five years.
“Initially, most of this will be smart meters, but
once those are out, client devices, software, and home automation equipment may
all benefit as consumers and utilities make use of the information that smart
meters provide,” said Allen Nogee, research director at In-Stat.
“While utilities will be big beneficiaries from the
smart grid movement, consumers will benefit as well, with more choices in rate
plans and a much better understanding of the link between their electricity
usage and their costs,” Nogee added.
Though the number of smart meters U.S. utilities will
deploy per year will decline after peaking in 2011, when stimulus money
prompted utilities to update their meters, worldwide smart meter revenue will
surpass $12 billion in 2016.
Leading the charge for worldwide smart meter revenue will
be China, which deploy 280 million smart meters by 2016.
Smart meter penetration in Europe to reach 106 million units by
2016
According to GBI Research, the cumulative number of smart
meter units installed in Europe is expected to grow from 7.6 million units in
2010 to 105.99 million units in 2020 at a CAGR of 30.2 percent.
The cumulative number of synchrophasor units installed in
Europe is expected to grow from 20 units in 2010 to 208 units in 2020 at a CAGR
of 26.4 percent. The cumulative number of in-home display units in Europe is
expected to grow from 608,000 units in 2010 to 40,523,240 units in 2020 at a
CAGR of 38.8 percent.