Smart Grid Equipment in the US 2015-2019
About smart grid equipment
A smart grid is a type of electrical grid that uses computer-based automation technology to integrate communication and information, available in digital or analog format, to facilitate and improve power production and distribution process. Smart grids are used to monitor and control power flows from the point of generation to consumption, thereby enhancing predictability, visibility, and efficient management of the production and demand. The technology brings flexibility to the whole system. It facilitates the integration of intermittent energy generation from renewable sources, and in peak load management, which helps in cost effectivity. Following are some of the equipment required for the transformation of traditional electrical grids into smart grids:
Technavio Announces the Publication of its Research Report – Smart Grid Equipment Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Smart Grid Equipment Market in the US: ABB, GE, Landis Gyr, Schneider and Siemens
Commenting on the report, an analyst from Technavio’s team said: “The majority of power utilities are in the process of achieving an end-to-end solution to better manage their energy distribution and utilization. Many power utilities have started adopting smart grid technologies such as smart energy meters to achieve the overall goal of creating a smart grid system to track the overall electricity use in detail. This provides an end-to-end solution as it monitors and controls energy production, transmission, and consumption. ”
According to the report, many power grids in the US are reaching the end of their life cycle and are facing infrastructure-related challenges in their day-to-day operations. Most power grids in the US are more than 100 years old and were designed to carry much smaller loads than it does today. With the growing population and rapid technological advances in the consumer electronics industry, the rate of power consumption has increased considerably. Therefore, power grids need to be upgraded. This upgrade is facilitated by the adoption and incorporation of various smart grid technologies into the power grid, fueling the market growth.
Further, the report states that the lack of standards also hinders future innovation and realization of applications such as smart appliances that are responsive to demand and price response signals.
ABB, GE, Landis Gyr, Schneider, Siemens