Spending by utilities transitioning their networks to smart grid capabilities reached $23.68 billion in 2012.
Highlighting the growing momentum behind the spending, 2012’s total alone represents 48 percent of smart grid spending to date. During the year, spending on transmission and distribution capabilities surpassed smart meter investments as utilities increasingly looked to improve their core networks and maximize the benefits of their growing advanced metering infrastructure (AMI) deployments.
Smart grid spending in 2012 was up 47.1 percent from $16.10 billion in 2011 as remaining government stimulus funds were spent in the U.S. and utilities around the world increased their own investments. Even so, these remain the early years of smart grid investments and spending will continue to grow over the next five years to reach $80.8 billion during 2018.
The areas of increased network communications, remote and automated management of network elements in the field, and new power management functionality are ripe for investment and innovation.