Dive Summary:
- Zpryme's Director of Research Jason Rodriguez estimates that "communication network and IT related spending" will total $1.3 billion to fully modernize the grid over the next several decades.
- The Smart Grid Investment Grant program is a $3.4 billion initiative that seeks to accelerate this transformation of the nation's electric grid by deploying smart grid technologies and systems.
- To improve their own smart grid implementation, many major utilities from around the world are following the examples set by progressive U.S. utilities such as Duke, FPL, PG&E, and SCE.
From the article:
With the global Smart Grid market value approaching $220 billion by 2020 (see market data preview here), Zpryme views the U.S. Smart Grid Investment Grant (SGIG) program as a major catalyst to worldwide Smart Grid development. In fact, many major utilities from Europe and Asia are already seeking out smart grid implementation guidance from progressive U.S. utilities such as Duke, FPL, PG&E, and SCE. The Smart Grid Investment Grant (SGIG) program is a $3.4 billion initiative that seeks to accelerate the transformation of the nation’s electric grid by deploying smart grid technologies and systems. The $3.4 billion in federal Recovery Act funds are matched on at least one‐to‐one with private sector resources. The total investment in SGIG projects is therefore approximately $8 billion. ...
