Report: Utilities will spend more on data

“Big Data” is coming to the utility industry in the form of information generated by smart grids, and spending on smart-grid analytics will total $34 billion through 2020, according to Boulder-based energy industry analysts at Pike Research.

Smart-grid equipment such as smart meters will generate a dramatic increase in the data utilities can track, according to Pike Research. To capitalize on the information generated and to make good on their investments in new equipment, utilities will need to invest in data analytics tools, an industry analysis said.

“Smart grids cannot be considered smart without the actionable intelligence to correct deficiencies and introduce efficiencies throughout the power delivery system, from transmission, substation and distribution systems, to the customer side of the meter,” research director Carol Stimmel said in a summary of the report. “The demand for market analytics will only grow stronger as utilities upgrade their systems, and both seasoned providers and new entrants are vying to deliver on the promise of a smarter grid.”

According to Pike Research, the bulk of investment will be in the Asia-Pacific region, where annual investment is projected to surpass $2.5 billion by 2020.

Pike Research is a market research firm focused on the clean-tech industry. In July, it was acquired by Navigant Consulting Inc., a publicly traded (NYSE: NCI) consulting firm based in Chicago.

Comments

Advertising
Advertising
Advertising

Assessed Valuations

FacebookTwitterLinkedInE-mail Here’s a question we hear from customers quite often: When will rates go up and what happens when they

Custom Publications

Awards

  • Awards – 02/28/2014

    FacebookTwitterLinkedInE-mail Boulder-based Clean Energy Collective received the Most Innovative Solar Company award from Solar Power Generation USA. Clean Energy develops

  • Awards – 02/14/2014

    FacebookTwitterLinkedInE-mail Lafayette-based The Creative Alliance won an American Package Design Award from GD USA Magazine for packaging designed for its

  • Awards – 01/31/2014

    FacebookTwitterLinkedInE-mail Two University of Colorado-Boulder researchers were among 15 honored week by the National Academy of Sciences for extraordinary scientific

RSS

RSS

RSS

RSS

RSS

Advertising

Social Network

 
Facebook Icon
Twitter Icon
LinkedIn Icon