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North American smart grid market to be worth $8.3 billion

Press Release   •   Aug 21, 2012 09:42 BST

The North American smart grid market is becoming a normality in the region these days, with the US supporting the technology through government policies and grants and now Canada also looks set to begin embracing smart grid technology. By the end of 2012 the North American smart grid market has been predicted to be worth $8.3 billion.

The US has taken a very different approach to Canada when it comes to the adoption of smart grid technology. They entered the smart grid market at a very early stage where as Canada took a much more guarded approach, however strong environmental worries are driving Canada to shape up and introduce more electric vehicles.

Growth within the North American smart grid market has been gradual over the past few years, but has been picking up momentum more recently due to the introduction of funds from the US and Canadian governments.

The US introduced the American Reinvestment and Recovery Act (ARRA) in 2009, which allocated $3.4 billion of federal investments to smart grids. Likewise, the Canadian budget for Research, Development and Demonstration (RD&D) projects in 2009 gave funding of $795 million under the Clean Energy Fund (CEF) to promote clean energy advancement.

The North American smart grid industry faces two crucial issues which remain to be addressed in the coming years: the merging of interoperability standards and more consistent integration of renewable energy into the grid.

Once these two issues have been resolved the large scale deployment of smart grid projects will become reality.

Key players involved in the North American smart grid market include Landys+Gyr (US), Itron (US), Cisco (US), eMeter (US), and Telvent (US).

For more information on the North American smart grid market, see the latest research: North American Smart Grid Market Report

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