Infographic – Key stats & figures on the smart grid market
By Anais Descleves - 07 March 2022
In the era of digitisation and smart technologies, the energy sector has been undergoing significant changes. New technologies are being created, with the aim to make regular grids more environment-friendly, less costly, and more efficient. This has led us to the expression smart grids.
In our infographic (see below) we present the main advantages offered by the smart grid market. We also highlight rising startups to watch and the main obstacles leading to the adoption of this new technology.
What are the advantages of smart grids?
Several key advantages can be mentioned about smart grids. First of all, they can prevent imbalances between the energy provided and the energy used. Smart grid technologies coordinate both the capacity of energy offered by the suppliers and the needs of the smart grids’ users
Moreover, the use of sensors and algorithms for the analysis of data in a smart grid can reduce the number of outages and the need for maintenance. This optimisation could thus reduce the environmental costs and impact of power grids.
Three obstacles leading to the adoption of these new smart grids
Although smart grids show numerous advantages, the adoption of this technology is not widespread. Slow adoption is mainly linked to three challenges:
- The high risk of cyberattacks due to the way the energy supply is managed.
- The significant amount of financial resources required to bring complex infrastructural changes at a national and international scale.
- The lack of incentive measures from governments.
How startups have become key players
While several European governments have expressed their desire to support the development of smart grids, startups are truly the ones leading the market. Indeed, Early Metrics’ database of rated startups holds numerous companies offering key technologies for smart grids.
For instance, Blixt created a new type of solid-state circuit breaker which can modulate power. Another example is WePower, a marketplace of green energy, which offers smart contracts enabled by the blockchain.
Discover more key trends and startups in our infographic below: