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Smart grid technologies: what are the benefits?

Posted by: Lauren Cox 16 Aug 16  | Sustainability

A recent report by Research and Markets has forecasted revenue from the global smart energy market to grow at a CAGR in excess of 14.91% from 2016-2020.

Why?

The technological revolution is happening and it’s happening now; a key contributor to this impressive market growth is the increase in smart grid deployment on an international scale. China, USA, Germany, UK, Spain, France – the list is endless – with all corners of the world enforcing a number of ambitious smart grid plans to keep ahead of the game, as well as dealing with the rise in power demand in order to supply a much smarter solution than before.

The energy infrastructure is gaining traction and investment into the smart grid is occurring internationally, with the emergence of new technologies meaning boundless opportunities!

Whilst smart projects have already taken shape and have been doing so for some time with smart energy meters, IT and SCADA systems, technological advancements will mean more projects centred on innovation. For instance, using the River Thames to heat homes and the Smart Cities and Communities Lighthouse programme; an initiative that aims to solve the issues faced by the inhabitants of major cities across the world as they continue to develop and increase in size and population. London has been selected to participate in this £19million project in order to improve lives by trialing smart technologies.

So, while we up the ante in the smart energy movement, what are the benefits of implementing these new systems?


 

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