North American Market for Smart Grid 2008-2012

25 May 2009, Pages- 17

With the advancement in technologies and increase in the availability of variety of electrical and electronic gadgets, electricity consumption is increasing at a high rate. It is expected that electricity will constitute 16 percent of the total energy consumption in 2009 as compared to 9 percent about 20 years ago. The efficiency of a traditional electric grid is only around 33 percent. However, with the implementation of some advanced technologies, the efficiency can be improved to around 60 percent. This implementation of advanced technologies is termed as ‘Smart Grid Technologies’. Smart grid is the modernization of the transmission and distribution aspects of a traditional electrical grid; transforming the grid from centralized producer controlled network to less-centralized and more consumer interactive network. It delivers electricity from suppliers to consumers, using digital technology which provides more efficient, reliable, responsive, and environment-friendly electrical system.

Smart grid technologies provide better ways to track the power transmission and distribution systems. They are unlike the current grid structures that are vulnerable to transmission losses and power thefts. Also, in the current grid structure, various grids are interdependent; so, failure in one grid can lead to a cascading series of failures. Implementation of smart grids can help in avoiding such problems.

The US government has set a target of installing around 40 million smart meters and 3,000 miles of transmission lines by 2012 for an efficient transmission network. This initiative from the government will encourage commercial players to invest more in smart grid technologies and products.

The report forecasts the size of North American Market for Smart Grid over the period 2008-2012. It segments the total North American Market for Smart Grid Market by various countries present in North America. Further, the report provides the categorical segmentation of Smart Grid Market in North America and discusses the key market trends, major drivers and challenges for Smart Grid Technologies in North America. It also profiles some of the key vendors operating in this market.

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