Monday June 17, 2013 0 commentsBOULDER - A new report from Navigant Research projects the market for smart grid technologies will reach $73 billion in annual revenue by the end of 2020 with total revenue of $461 billion between 2013 and 2020.
"Smart grid technologies improve the reliability and efficiency of the power grid via the application of modern IT capabilities alongside or in place of existing utility assets and networks," said Bob Lockhart, Navigant research director.
"However, the term 'smart grid' has been overused to the point of losing its meaning. A more precise definition includes five key application: transmission upgrades, substation automation, distribution automation, smart grid information and operations technology and smart metering."
Of the five, by far the most capital-intensive application is transmission upgrades, which require substantial infrastructure investments, Navigant said.
Transmission upgrades will represent nearly $250 million in revenue between this year and 2020,or more than half the total for the overall smart grid technology market, the study said.
The report, "Smart Grid Technologies," looks at market dynamics and the most important technology issues for smart grid technologies from 2013 through 2020.
An executive summary of the re[port is available for free download at www.navigantresearch.com.