Tuesday, 27 January 2009

Bright future ahead of smart grid technology

In its global predictions for technology industry, Deloitte has stated that smart grid solutions providers enjoyed 50 percent revenue growth in 2008 and may generate $25 billion in revenues in 2009.

Although the global economy may make public spending on smart grid unlikely, governments may choose to offer tax incentives as well as consider how smart grid technology can reduce non-domestic energy dependence and help make the grid more secure.

According to Deloitte, to conserve costs, profit-oriented utilities and enterprises may deploy smart grid technologies even without government support.

Also, major manufacturers and utilities may even want to explore partnerships with or acquisition of smart energy companies.

"Smart grid technology will represent the biggest and fastest growing sector in green tech," said Eric Openshaw, vice chairman and U.S. technology leader for Deloitte LLP.
"The most significant emerging technologies will be those that deliver cost-efficiency, contribute to environmental sustainability and drive new forms of personal and business collaboration."

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