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March 03, 2010

Smart Grid Spending Could Increase to $40 Billion by 2015



Anyone who lives in the Northeast remembers the blackout in July 2003. I know I do; I was driving home from work, with absolutely no gas, praying I made it home since no gas stations were working. The next day, I waited 17 hours in JFK airport to try and get my flight to London.
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Needless to say, it was no picnic. Suffice to say, that after events like that, it’s no wonder America’s electric power grid has been such a hot topic and investment venture – we all know it needs a bit of a boost, eh?
 
Well, according to some news on Smart Money, the smart grid movement has been doing its best to evolve as the modern day power grid. With Cisco’s (News - Alert) big proclamation last summer that power networks eventually would eclipse the Internet as a business opportunity for the Web pioneer, people were shocked and scared about what this meant.
 
Today, investments for smart grids stem to about $10 billion, according to Barclays Capital. Rumors are surfacing that spending for the smart grids – including metering, monitoring devices and all other technology – could stem as much as $40 billion by 2015.
 
Let’s just hope some of this moolah will go to eliminating blackouts. I have a plane to catch back to London next July. Wink wink.

Kelly McGuire is a TMCnet Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling TMCnet's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.

Edited by Kelly McGuire
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