Smart grid report presented at WEF in China
Report evaluates over 90 smart grid pilots.
A report exploring the potential of smart grids by evaluating the performance of pilot projects worldwide will be presented at the World Economic Forum to be held in Beijing, China today.
Entitled “Accelerating Successful Smart Grid Pilots”, the report was developed with Accenture and the help of over 60 industry, regulatory and policy stakeholders.
One of the key points of the report is the importance that pilot projects play in determining the regulatory framework necessary to successfully implement a nationwide smart grid, reads the WEF website.
“With an estimated $150 billion lost in a year in the US due to power cuts, smart grids can deliver a more reliable system with flexibility to utilise the full capacity of renewable energy,” comments Espen Mehlum, head of electricity industry at the World Economic Forum. “However, utilities are struggling to create the business case for smart grids, as regulatory incentives often fail to provide the right incentives and reflect the low-carbon agenda.”
Smart grids have been creeping up the agenda of governments across the world. Over the past year, China alone has spent US$7.3 billion on smart grid developments, while the US has directed $ 4.5 billion of its fiscal stimulus package to smart grid activities. As a result, there has been a substantial increase in the number of smart grid pilots being implemented, with industry estimates at around 90 pilots globally.