NEW YORK, July 6, 2016 /PRNewswire/ --
Future of the Smart Grid Industry : The Global Smart Grid Industry will Reach $112.7 Billion in 2025 growing at 6.2%
Global smart grid investment is likely to grow rapidly. By 2025, a complete transformation to a smarter grid is unlikely but the process would have gained pace with major changes underway in grid automation, demand-side management, and Big Data analytics. Revenue growth will be the fastest in Europe. Demand response and advanced metering infrastructure will be key applications. Till 2025, the share of distribution grid management will continue to be the highest but demand response and advanced transmission technologies will grow the fastest. Cloud services are already encouraging X-as-a-service business model, making it the norm for offering software and services in 2025. This study makes key predictions for the smart grid industry in 2025.
Top 2025 Electrical System Trends
Starting from generation all the way to the end customer, key 2025 trends are: growth in renewable energy generation, change in utility business models, residential storage, and demand side management.
Share of fossil fuel generation will continue to decline. Electricity generation share from wind and solar PV will increase from % in 2015 to % in 2025, while installed capacity share will rise from % in 2015 to % in
Utilities transform from simply being owners and operators of centralised power plants to offer service-based selling and promote energy efficiency and clean energy. Data analytics will be used extensively to provide high value,
tailor-made services to customers, for asset maintenance and outage management, load forecasting, VPPs and DR scheduling.
Self generation will be widespread and electricity from such prosumers (businesses, households, commercial establishments) will be comparable to or even cheaper than utilities.
Energy storage becomes financially attractive. Payback period will get shorter. This will encourage its adoption on the grid for integrating renewable generation and performing ancillary services.
New business models are starting to emerge and will evolve even further. Smart Grid as a Service, VPP as a Service, and a move from hardware to software-based services will be widespread.
Demand side management and DR will become the norm. Role of aggregators in North America (NA) and Europe will be clearly defined, while DR would be an upcoming market in certain Asia-Pacific (APAC) and
Latin America (LA).
The competitive landscape will be very vibrant with new companies and stakeholders being active in the smart grid industry. There will be consolidation, along with the emergence of major tier I integrated participants.
What are the key trends influencing the transformation to smarter grids in 2025?
What will the electrical grid look like in 2025?
What will be the role of different stakeholders, especially DSOs and TSOs?
How much will the global smart grid industry be worth in 2025? Which areas will offer the best opportunities for growth?
Which are the geographic hotspots? Which countries or regions will be the early adopters?
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