![]() ![]() Popularity of Smart Grid Due to Rise in Demand for Secure and Reliable Power Supply Governments of various countries are striving to transform cities into smart cites. The market size of smart grids has been growing considerably in the past few years, owing to rising adoption of smart meters and regional government initiatives and funding for smart grid projects. In addition, there is a need for centralized grid distribution management and control. Growing concerns regarding reduction in carbon footprints and the need to replace aging infrastructure are shaping the global smart grid market. Rising demand for quality, secure, and reliable power supply is expected to ensure the significant growth of the market. Higher transmission and distribution losses are other factors that are expected to drive the market for smart grid. Smart grids are essential in digital transformation of the electricity sector.ĭemand for smart grids is high, owing to rise in need for power and supportive regulations by governments of countries in various regions across the globe. It detects, react, and pro-acts to changes in usage and multiple issues. Smart grid is an electricity network that enables two-way flow of electricity and data with digital communications technology. The global smart grid market size was valued at USD 141.5 billion in 2021 and is expected to reach around USD 846.1 billion by the end of 2030, estimated to expand at a CAGR of 17.7% from 2022 to 2030. Wire Management of Rail-Less Solar PV Systems on Low-Slope Metal Roofing.The Self-Generation Incentive Program (SGIP).Intersolar & Energy Storage North America 2024 Product Preview. ![]()
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