The U.S. smart grid optimization solutions market is expected to expand at a compound annual growth rate (CAGR) of 40.1 percent over the period, 2010-2014, according to a new report from Elmhurst, Illinois-based Technavio Intelligence, posted on the website of MarketResearch.com.

The "Smart Grid Optimization Solutions Market in the United States 2010-2014" report, which focuses exclusively on the United States, indicates that the market is being driven by integration of renewable energy generation, among other factors.

According to an analyst, "Several utilities have integrated renewable energy into electricity generation. The generation of wind energy and solar energy is being increasingly adopted in order to reduce CO2 emissions and conserve natural resources. Smart grid optimization solutions help in facilitating and integrating renewable energy into the power distribution system. This market has also been growing because of the competitive advantage that utilities have in developing renewable energy sources."

The report also highlights that the lack of standardization is hindering the growth of this market. However, with these grids bringing increased return on investment, the market is expected to keep growing. This market is also marked by strong support from the U.S. Government in the form of initiatives. These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.

The report is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market. Companies mentioned in this report include ABB, Schweitzer Engineering Laboratories Inc., S&C Electric Co., GE Energy, and Schneider Electric (News - Alert).

The paper follows a report released in July, on worldwide growth of the smart grid optimization solutions market, in which Technavio predicted a 40.7 percent global CAGR for the same time frame.

In related news, the annual Rural Smart Grid Summit is being held in Bonita Springs, Florida. Rural utilities represent a key sector for smart grid optimization. In the United States, there are approximately 865 electric cooperatives serving 37 million consumers and 16 million businesses. These cooperatives cover approximately 2.4 million line miles, which is 44 percent of the nation's electric distribution grid and 75 percent of the nation's land mass. Cooperatives are present in 47 states and more than 2,500 U.S. counties.