Smart grid growth projected at US$32.2bn

Smart grid revenue in India is expected to grow to US$32.2 billion in 2026 from US$12.6 billion in 2017, according to a report on the industry.

“Driven by the need to improve grid reliability and reduce system losses, India’s Ministry of Power has made an aggressive effort to jump-start this nascent smart grid market,” says Michael Kelly, research analyst with #Navigant Research.

“Yesterday’s government-sponsored initiatives have evolved from simple electrification schemes and basic IT infrastructure establishment to include smart metering, distribution automation (DA), substation automation (SA), distributed energy resources development, advanced enterprise system implementation, and more,” he noted.

India began its push toward grid modernization in the mid-2000s with the implementation of various electrification and network upgrade programs. While still in its infancy, the Indian smart grid market is forecast to show strong and rapid growth in the coming decade, according to the report “FutureGrid India”.

It analyzes the various smart grid solutions in the Indian marketplace.

The study outlines the significant factors behind projected growth in the smart grid marketplace in India.

The report also examines completed and ongoing project initiatives, market drivers, challenges, and emerging trends related to smart grid solutions in India.

Navigant Research is the dedicated research arm of Chicago-based #Navigant Consulting Inc. fii-news.com