Smart grids could save Europe €52bn

Smart grids could save Europe €52bn

Smart grids could save the EU €52 billion annually, according to leading smart grid companies that have teamed up to promote European leadership in smart grids. The sizeable savings would arise from reducing losses in the electricity distribution network through automation and encouraging consumers to cut energy consumption with smart meters that provide more accurate

Smart grids could save the EU €52 billion annually, according to leading smart grid companies that have teamed up to promote European leadership in smart grids.

The sizeable
savings would arise from reducing losses in the electricity distribution
network through automation and encouraging consumers to cut energy consumption
with smart meters that provide more accurate and timely information.

Utilities will
also be able to lower the system voltage level and make meter-reading redundant.
After deducting necessary costs like the installation of smart meters and new
software, the net benefit would still be €31 billion per year.


Smart metering
solutions will allow the introduction of time-based tariffs and provide
consumers with information about their electricity use in real time. But
installing the equipment in each household will do nothing unless consumers are
given adequate information about how to make use of them.

Europe is
currently spending billions of Euros on developing technologies requiring smart
grids, including wind and solar generation, electric vehicles and heat pumps.
But in comparison to these funding and standardization efforts, little
attention is paid to developing demand-side programs that will reduce energy
consumption.

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