In order for a low-carbon and sustainable energy revolution to take place, smart grids with their accompanying technologies will have to play a major role.
Most of the existing electrical grid in the United States, such as that in California, has been in existence for more than a hundred years. It is imperative that these grids be modernized – resulting in a more efficient, more reliable, safer, interoperable and more affordable electrical system. The global smart grid market is at $22.8 billion last year in 2011, but is expected to jump up to $80.6 billion by the year 2016 as new technologies are being introduced that can deliver and meet the requirements smart grid reliability, stability and lower electrical rates. A survey from Zpryme indicates that 8 out of 10 industry executives are confident that investments in smart grids will continue to go through 2012 and the succeeding years. Many believe that the smart grid is the only rational and viable long-term action that can integrate and manage all government regulation, integration of renewable energy, carbon emissions control, and other complex requirements of the volatile energy market.
Jeff St. John of greentechmedia.com writes provides more insight on how intelligent building technologies will interface with the smart grid.