KUALA LUMPUR, Oct 4 (Bernama) -- A new Juniper Research study has found global smart grid deployments will lead to annual energy savings of 1,060 terawatt-hours by 2026, from 316 terawatt-hours this year.
The research identified increased sustainability and energy security as critical to the appeal of smart grids, with analytics and demand-responsive networks able to have a dramatic impact in a renewables-heavy future, according to a statement.
The report predicts vendors who can best combine analytics that deliver operational insights to energy companies, with low-cost sensors and connectivity, will achieve greatest success.
The new research, Smart Grid: Industry Trends, Competitor Leaderboard and Market Forecasts 2021-2026, found that smart grid software, which analyses energy usage in real-time to enable responsive features for utility companies, will be critical to delivering energy and cost savings.
Research co-author Damla Sat explained: “To meet ambitious climate targets and lower spiralling operating costs for utility companies, the grid must evolve rapidly into a smart grid.”
“Leveraging connectivity and deploying analytics at scale will be vital in achieving the truly demand-responsive grid that is needed today.”
The research found that smart metering roll-outs are growing, with global smart meters in service set to reach over two billion in 2026, from 1.1 billion in 2021.
While this represents growth of just under 95 per cent, adoption is very uneven worldwide, with markets including Latin America and Africa & Middle East lagging significantly behind the leaders in Western Europe and the Far East & China.
The research recommends that vendors lobby governments urgently to support smart metering roll-outs, or they will rapidly fall further behind.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.
-- BERNAMA
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