Smart Grids: Current Market Landscape and Future Opportunities

With growing electricity consumption, the peak electricity demand is expected to increase manifold by 2050. It is believed that, owing to their intelligence features, smart grids have the potential to reduce the projected peak demand increases by up to 24% across some of the major regions of the world. This is because sensors in smart grids can detect peak load in advance and divert surplus supply from low demand areas to meet the peak requirements in a particular region. Moreover, with countries having ambitious renewable energy targets, it is important to ensure that a compatible infrastructure is put in place in parallel.

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