Smart Grid Market in Americas to 2020 - US-EU Collaboration on Standards to Solve Interoperability

March 16, 2012 - PRLog -- In 2011, the US Commerce Department's National Institute of Standards and Technology (NIST) and the EU’s Smart Grid Coordination Group (SG-CG) agreed to work together on the development of smart grid standards. The common goals and the common areas of focus for both the institutes have resulted in this collaboration. Both the institutes are following the mandates in order to form a common framework for smart grid standards to unlock innovation in the electrical sector.

The new collaboration will help both continents to have as much common in their smart grid standards as possible. This will help in designing the devices and systems that will interact with these grids.

Amongst the American countries, the US is expected to see the most encouraging growth in all three of the technologies covered in this report: smart meters, synchrophasors and IHDs

The cumulative number of units installed in the US smart meter market is expected to grow from 13.47 million units in 2010 to 74.38 million units in 2020 at a CAGR of 18.6%. The cumulative number of units installed in the US synchrophasors market is expected to grow from 262 units in 2010 to 6,538 units in 2020 at a CAGR of 37.9%. The cumulative number of units installed in the US IHDs market is expected to grow from 130,000 units in 2010 to 20.26 million units in 2020 at a CAGR of 65.7%.

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The economies of North America are facing an economic crisis that will have a negative impact on smart grid development. In such an economic scenario, the long term borrowing of funds will prove to be difficult. In the US, a federal government effort has been made in the form of a federal stimulus that aims to stimulate the US economy for a short period of time by creating jobs. Upgrading the existing power system will take a long time and will require large investments. Raising funds is a concern due to the lowering of the US’s sovereign credit rating by the Standard and Poor’s rating agency from ‘AAA’ to ‘AA+’. This has created a negative outlook on long term debts that will have to be raised to meet fiscal targets, including investments in power infrastructure. This will have a negative impact on governmental loans from the World Bank or the International Monetary Fund (IMF). The government will have to pay high levels of interest or delay the projects until the economy has stabilized and the credit rating has improved. In such a scenario, borrowing long term funds for smart grids is a concern, as it will affect long term expansion.

The smart grid pilot projects that have been successfully completed will show the way for future investments in the technology. Various smart grid projects have been initiated in various technology segments like ICTs, Cabling Technologies, Sensing and Measurement Technologies and Customer Interface Technologies for the development of smart grid. The US was the first country to showcase smart grid as the solution for its energy problems and as an alternative to the aging grid system. Other countries like Brazil and India are willing to take lessons from the US example before initiating smart grid deployment. The successful pilot and testing projects will help to create a business case that will help in the commercial scale deployment of projects.

GBI Research, a leading business intelligence provider, has released its latest research, “Smart Grid Market in Americas to 2020 - US-EU Collaboration on Standards to Solve Interoperability & Data Security Issues to Encourage Innovation”. The report gives an in-depth analysis of the North and South America smart grid market, covering the three major technologies: smart meters, synchrophasors and in-home displays. The report provides information on the cumulative installed units and revenue from 2010-2020 for the three technologies for the US, Canada, Brazil and Mexico. It also details smart grid policies and regulations in the four countries. It provides global smart grid market analysis, technology analysis, and technology deployments for the four major technologies. The Americas smart grid market drivers and restraints have also been discussed.

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