Major Government Investments Through Utility Companies to Drive the Global Smart grid Market

Aug. 9, 2010 - PRLog -- Smart Grid Market Analysis and Forecasts to 2020 - Major Government Investments Through Utility Companies to Drive the Global Market

The report provides analysis of the Global Smart Grid Market and Forecasts for the four major geographical regions up to 2020. The research analyzes the state of smart grid deployments in the four major geographical regions and it future potential up to 2020. The research also provides the historical and forecast of revenues for four different smart grid technologies including smart meters, broadband over power line, HVDC and energy storage. ( http://www.bharatbook.com/detail.asp?id=146124&rt=Smart-Grid-Market-Analysis-and-Forecasts-to-2020-Major-Government-Investments-Through-Utility-Companies-to-Drive-the-Global-Market.html )

Government Support Through Legislation and Grants Aid Deployment of Smart Meters
The implementation of advanced metering requires the amendment of existing energy policy in many countries. Most of the governments have formulated new legislation that supports the deployment of smart grid initiatives. For example, in the US, the energy policy act of 2005 and energy independence and security act of 2007 provide guidelines to enhance the existing grid for reliability and energy security. In addition, the recent stimulus package announced through the American Recovery and Reinvestment Act (ARRA) provides grants up to 50% of the cost for smart grid projects.

Smart Meters, Broadband over Power Line (BPL), High Voltage Direct Current (HVDC) Transmission and Energy Storage will Offer the Highest Market Growth Potential During the Next Decade
Currently, smart meters, BPL, HVDC power transmission and energy storage are the major technologies in the smart grid segment that are gaining the attention of governments across the world. These technologies enable them to address important issues such as demand response and the efficient transmission of power. While energy storage is at the nascent stage of development, the research and development (R&D) in various alternate storage technologies indicate that the commercialization and the pace of adoption is expect to increase during the period 2010-2020.

Ability to Enhance the Use of Renewable Sources Increases the Demand for Energy Storage
Electricity generation from renewable energy sources such as wind and solar depends on certain climatic conditions. Since the electricity usage peaks during the day, the renewable electricity generated during the off-peak period needs to be stored efficiently for use during peak demand. Additionally, the capacity factors for renewable energy sources must be raised to higher levels in order to make it more cost-effective. Efficient energy storage techniques can effectively increase the capacity factors of renewable sources. Thus, the demand for energy storage is likely to increase as it can enhance the use of renewable energy sources.

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