OYSTER BAY, USA: The aging US electrical power grid is a security risk due to its centralized infrastructure, which leaves it open to failures on a massive scale (as seen during the Northeast Blackout of 2003, which left as many as 45 million people in eight US states in the dark).
The electrical power infrastructure of Europe is similarly antiquated, and needs to be upgraded if the EU is to attain its 20/20/20 goals of reducing carbon emissions by 20 percent, improving energy efficiency by 20 percent, and increasing the use of renewable energy sources by 20 percent, all by the year 2020.
Updating and transforming current electrical networks into smart grids yields a number of benefits, according to a new study by NextGen Research, "Smart Grid Applications: Demand Response, Decentralized Generation and Smart Meters Increase Electrical Networks’ Capabilities, Efficiency and Reliability."
These include the capability for the grid to heal itself in the face of attack or failure, the opportunity to improve the efficiency of power generation and delivery, and the ability to provide greater flexibility in accessing power from distributed, renewable sources.
The study also observes that smart grid deployments bring with them new jobs, in areas ranging from installing new transmission and distribution lines to creating advanced energy management systems. Job creation is increasingly important during the currently troubled economic environment, to offset growing job losses in other sectors.
The study’s author, research analyst Atakan Ozbek, says utilities and governments around the world spent more than $12 billion upgrading, strengthening and “smartening up” their electrical power grids in 2008, an amount NextGen Research projects will grow to more than $33 billion through 2014.
In light of growing governmental support and stimulus spending, Ozbek says, “We can expect the smart grid markets to take off in late 2009, but more realistically, from 2010 onward.”
He adds that, while governments are allocating billions for upgrades to existing electrical networks to improve their reliability, interactive capabilities, and openness to renewable energy sources, a lack of `industry-wide smart grid standards is hindering the sector’s growth potential.
“The early movers, like PG&E and Austin Energy, should take advantage of their early participation in the field to establish open standards,” which would allow smart grid deployments to progress more quickly, with predictable costs.
Showing posts with label NextGen Research. Show all posts
Showing posts with label NextGen Research. Show all posts
Friday, August 7, 2009
Friday, July 31, 2009
Global PV power market to resume growth in 2011
OYSTER BAY, USA: Photovoltaic technology has a very straightforward value proposition: it converts sunlight to electricity. Its advantages are simple to understand: sunshine is free, and the conversion process yields clean energy, with no harmful emissions or byproducts.
Solar cells are long-lasting and non-polluting, typically operating for 25 years before being recycled. Photovoltaic systems have no moving parts, which means maintenance is minimal as parts do not wear out and require replacement, so lifecycle operational costs are low.
According to the NextGen Research study “The Global Photovoltaic Market: Sunny Prospects for Energy Independence Through Solar Power” photovoltaic demand will increase at a CAGR of nearly 24 percent from 2008 to 2013, with markedly stronger growth starting in 2011 after the global economy rebounds from the ongoing global recession.
Driving the installation and use of photovoltaics are concerns over climate change and the reduction of greenhouse gas emissions, as well as the drive for energy independence, which has become a matter of national security for many countries.
Additionally, the development of a domestic photovoltaic industry is seen as a promising means of economic stimulation during a difficult fiscal period, as well as a way to transition to a green economy.
Larry Fisher, Research Director of NextGen Research, said: "Federal, state and local governments provide economic support to help alternative energy sources like photovoltaic achieve parity, the point at which the cost of generating electricity from renewable sources equals that of electricity generated through the use of conventional sources, like coal or natural gas.
"That support is crucial, at least until the photovoltaic industry can achieve the necessary economies of scale to compete with standard, greenhouse gas-emitting energy sources.
"Feed-in tariffs have been effective in promoting photovoltaic power generation in Germany, Italy, and elsewhere; these tariffs mandate a baseline price at which the local utility must purchase excess electricity from a residential photovoltaic system.
"The US offers a 30 percent tax credit for consumers installing a photovoltaic system, while many US states also offer tax incentives, as well as rebates, grants and loans, to help support the growth and use of photovoltaics."
Solar cells are long-lasting and non-polluting, typically operating for 25 years before being recycled. Photovoltaic systems have no moving parts, which means maintenance is minimal as parts do not wear out and require replacement, so lifecycle operational costs are low.
According to the NextGen Research study “The Global Photovoltaic Market: Sunny Prospects for Energy Independence Through Solar Power” photovoltaic demand will increase at a CAGR of nearly 24 percent from 2008 to 2013, with markedly stronger growth starting in 2011 after the global economy rebounds from the ongoing global recession.
Driving the installation and use of photovoltaics are concerns over climate change and the reduction of greenhouse gas emissions, as well as the drive for energy independence, which has become a matter of national security for many countries.
Additionally, the development of a domestic photovoltaic industry is seen as a promising means of economic stimulation during a difficult fiscal period, as well as a way to transition to a green economy.
Larry Fisher, Research Director of NextGen Research, said: "Federal, state and local governments provide economic support to help alternative energy sources like photovoltaic achieve parity, the point at which the cost of generating electricity from renewable sources equals that of electricity generated through the use of conventional sources, like coal or natural gas.
"That support is crucial, at least until the photovoltaic industry can achieve the necessary economies of scale to compete with standard, greenhouse gas-emitting energy sources.
"Feed-in tariffs have been effective in promoting photovoltaic power generation in Germany, Italy, and elsewhere; these tariffs mandate a baseline price at which the local utility must purchase excess electricity from a residential photovoltaic system.
"The US offers a 30 percent tax credit for consumers installing a photovoltaic system, while many US states also offer tax incentives, as well as rebates, grants and loans, to help support the growth and use of photovoltaics."
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