BOULDER, Colo.--(BUSINESS WIRE)--A recent white paper from Navigant Research examines the major trends and market forces that are expected to shape the future of the smart grid market, including summary forecasts for five smart grid application areas.
With breakthroughs and innovation emerging on an almost daily basis, the smart grid technology industry is burgeoning. For the electric utilities expected to deliver reliable and efficient grid systems, however, the pace is considerably slower. Electric utilities worldwide are facing upheaval on a number of fronts, influencing industrywide trends. Click to tweet: According to a recent white paper from Navigant Research, a combination of factors that includes deregulation, the proliferation of distributed generation (DG) installations, and environmental concerns are expected to mold the smart grid industry in 2015 and beyond.
The full white paper is available for free download on the Navigant Research website.
“Deregulation is occurring globally, even as distributed generation (DG) cuts into the utility’s core business of selling electricity to businesses and consumers,” says Richelle Elberg, senior research analyst with Navigant Research. “Further, the increase in DG installations, along with electric vehicles (EVs), is changing the load profile of distribution circuits, often in concentrated neighborhoods, which can mean reduced grid stability and increased need for infrastructure upgrades.”
One way utilities are adapting to this changing landscape is by maximizing investment in advanced metering infrastructure (AMI) networks for a host of new applications, from consumer engagement to analytics, and from demand response (DR) to time-of-use (TOU) pricing. As utilities leverage this last mile of connectivity, and intelligence morphs and spreads across the grid, the need for increasingly complex and interoperable IT systems, more robust communications networks, and greater collaboration between formerly siloed teams, also grows.
The selection of the white paper’s 10 trends was based on industry research conducted by Navigant Research analysts throughout 2014. They include:
- Prosumers prod the traditional model
- Smart metering 2.0: Maximizing the bang for the advanced metering infrastructure buck
- Smart edge: More utility solutions leverage distributed intelligence and automation
- “Your power is out; we are working on it”: Utilities embrace social media and mobile devices for customer engagement
- Smart grid as a service: Moving from hype cycle to real world product
- The push and pull of DR: Default dynamic pricing and Federal Energy Regulatory Commission Order 745
- Just the FACTS, ma’am: Flexible alternating current transmission system deployments rise in step with power plant decommissioning
- High-voltage transmission getting in synch
- Holistic health for utilities: Regulators tweaking the utility recipe, but are there too many cooks in the kitchen?
- A more worldly smart grid industry: Europe and Asia Pacific especially poised for growth over the next several years
The white paper, “Smart Grid: 10 Trends to Watch in 2015 and Beyond,” provides insights into key issues that are expected to shape the smart grid market in the months and years ahead, with summary forecasts for five smart grid application areas. Each of the topics in this white paper is examined more deeply in Navigant Research market overview reports, which are identified for each trend. The full white paper is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, “Smart Grid: 10 Trends to Watch in 2015 and Beyond,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.