The smart grid industry in the US has almost 4 billion dollars invested in stimulus funds. A lot of attention has been focussed on upgradation of the decades old power grid there. But smart grids will cost money. Can developing nations afford a fancy? According to experts, rapid economic growth requires smart grids but there are also some other reasons in this segment.
China is predicted to be one of the hottest smart grid markets in the coming years given its energy needs are expected to double in 10 years, and the country’s dominant power distribution company, State Grid Corp., has a goal of building out a smart grid by 2020. Indian utilities are still looking at pilot projects and the Bangalore Electricity Supply Company (BESCOM) is working on a smart grid pilot project.
According to research from the Bangalore-based nonprofit Center for Study of Science, Technology and Policy (CSTEP), there are five reasons why developing countries need, and want, smart grids: stop power theft (by simple power accounting), power quality (often poor) that can be improved through grid load balancing, a chance to leapfrog to smart grids in places where the grid is non-existent, while the cost can be offset by taking on new consumers! Not to forget how a smart grid will help with renewable energy.
Agree? Do you think developing nations can bear the costs? Considering how in parts of the US, smart meters have no takers, given their costs! Or is there some way of financing the cost?
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