New Report on Alternative Energy & Smart Grid by GlobalData10 Jan 2012 • by Natalie Aster
North and South America Renewable Energy Policy Handbook 2011. The report provides insights to major policy initiatives taken up by the US Administration for the market development of renewable energy sources such as wind, solar, geothermal, biopower and biofuels in major countries in North and South America namely the US, Canada, Mexico, Brazil and Argentina..
For other major countries, it provides the current and future renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of their renewable energy industry. The report also provides major technology specific policies and incentives provided in each of these countries.
The US is the market leader in renewable energy development in North and South America. The US renewable energy industry has hugely benefited from the recent policies and renewable energy regulations. Some US states plan to exceed the RPS targets to generate 10% of their total electricity from renewable energy by 2012 and 25% by 2025.
Canada has significantly increased the production of hydropower, biomass and solid biomass in recent years. In addition to it, ecoENERGY is the umbrella program under which various federal incentives are being provided to promote renewable energy production. This has led to an increase in wind power in Canada at a CAGR of 40.2% during the period 2001-2010.
Smart Grid Stakeholder Analysis - Economic Impact of Smart Grid Technology Deployments. The deployment of smart grid is expected to have a positive impact on the global economy. The performance of an economy is closely tied to its ability to generate and supply electricity. The deployment of smart grids will help to stabilize electrical systems and make power delivery systems more reliable. This will help businesses to avoid losses arising from power outages.
Smart grid technologies help in conserving energy and maximizing the energy efficiency of a power system. The benefits received include optimization of assets, revenue generation by reducing transmission and distribution losses, and customer satisfaction through reduced outages and greater reliability, greater control and oversight of their electricity consumption, and the possibility of selling home-generated electricity.
Smart grid opens up new market opportunities for new equipment, technologies, and services related to smart grid technology which will boost adopting economies and provide them with new opportunities for growth. Initiatives by regional governments to upgrade their existing power infrastructure have encouraged power utilities to deploy smart technologies across the T&D grid.
The global smart grid market offers significant growth opportunities to technology vendors of various products and services. The funding for smart grid projects by various governments has enabled technology vendors to penetrate deeper into the smart grid market.. The smart grid also offers scope for vendors of other industries such as information technology and telecommunication.
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