A new report compiled by Northeast Group predicts investment in smart grid infrastructure in Western Europe to reach $133.7 billion by 2027. Western Europe “is in the process of massive power grid modernization investments to underpin its position as one of the global leaders in promoting energy efficiency and renewable energy development.”, according to the report Western Europe Smart Grid: Market Forecast (2017-2027).
These smart grid infrastructure investments are being led by the current large-scale smart metering projects. Upcoming investments in distribution automation, battery storage and information technology are also part of the picture. Furthermore, Northeast Group’s report notes that smart grid infrastructure deployments are driven primarily by EU regulations, which require most countries to deploy smart meters to 80% of residential customers by 2020.
Northeast Group projects that Western Europe as a whole will reach 67% penetration by 2020, with 12 countries meeting the 80% mandate. According to the European Commission’s website, in 2015, 25 of the 28 EU countries exceeded their national indicative trajectories: some have even surpassed their targets for 2020 already.
The key questions answered in the study include:
- How large will the smart grid market be across Western Europe over the next decade?
- How quickly are Western European countries expected to comply with EU smart grid requirements?
- How will the region’s rapid renewable energy expansion impact smart grid investment?
- How will smart grid investment develop in countries already finished with smart metering?
- What regional projects have been completed by the top international smart grid vendors?
For more info, you can visit the Northeast Group website.