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Report: Smart Grid Needs to Grow Tenfold by 2018 16.01.2012 + + + A new report from Memoori Business Intelligence suggests that the smart grid industry is set to grow substantially over the next few years, with even more dramatic change within the next two decades if nations are to effectively implement smart grids. The world saw more than $16 billion in spending on smart grid technology in 2010, more than 15 percent of the market for electrical transmission equipment. Merger and acquisition activity in the sector has grown substantially as well, with smart grid companies involved in $10.6 billion-worth of moves last year, up nearly 8,000 percent from 2007. But Memoori projects that spending on smart meters and other smart grid applications will need to amount to roughly $2 trillion over the next two decades if the full potential of the technology is to be met. The group expects spending will need to rise quickly as well, with the sector growing to $155 billion by 2018, nearly 10 times its size at the start of the decade. The report also points out certain areas of smart grid technology that have received too little attention, including distribution automation. Source: PennEnergy
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