By 2020, almost 240 million smart meters will have been deployed in Europe. But smart meter rollouts are only part of the transformation that smart grids will enable across European energy networks, industry, and society over the next 40 years. Smart grids are an essential element in realizing the vision of a low-carbon Europe that, by 2050, will have reduced its greenhouse gas (GHG) emissions dramatically and will have almost completely ended its dependence on fossil fuels. A new report from Pike Research forecasts that, during the period from 2010 to 2020, cumulative European investment in smart grid technologies will reach $80.3 billion. The cleantech market intelligence firm anticipates that smart grid revenue in Europe will peak at $9.8 billion in 2017 before declining somewhat to $9.1 billion by 2020.
“Much of the smart grid development in Europe mirrors the activity, drivers, and responses seen in North America and in other parts of the globe, but there are important differences in priorities and emphasis,” says senior analyst Eric Woods. “In particular, carbon reduction programs and energy efficiency are seen as primary drivers for smart grid and smart meter deployments. A program is taking shape that will take the use of smart grid technologies to another level over the next 5 to 10 years, linking them closely with the achievements of Europe’s 2020 goals.” MORE INFO