Dive Brief:
- Electric utility executives are feeling good about benefits resulting from the deployment of a smart grid, according to a study by management consulting firm Accenture. More than 66% believe the benefits will exceed industry forecasts, said the Digitally Enabled Grid survey.
- “Utilities will need to make significant investments in grid infrastructure and technology, in order to accommodate new sources of supply and demand, such as electric vehicles, distributed solar power, microgrids and energy storage,” said Jack Azagury, global managing director of Accenture smart grid services. “Our research confirms that executives expect smart grid solutions to reduce the cost of grid maintenance and upgrades and improve the reliability of the grid, while allowing it to support new technologies.”
- In North America, 75% of executives surveyed said investing in smart grid analytics solutions will be the highest priority in the coming years.
Dive Insight:
The development of a smart grid is dividing electric utilities into two groups. “Utilities will have to choose whether to embrace these developments as they emerge or attempt to control their impact through legislation and regulation,” Accenture's Azagury said. “The leading utilities will be the ones that embrace the potential offered by new smart grid technologies and adapt their business model to leverage these into new business opportunities for growth.”