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Australia Smart Grid Opportunity-Utility Survey
Frost & Sullivan, Sep 2010, Pages: 72
This research service covers the state of the smart grid market in Australia, analyzing the key technologies and components used, investment costs requirements under three different scenarios, industry challenges, market drivers and restraints faced by utilities, and key projects under development. Revenue forecasts are provided for smart meters. A snapshot of state-wise smart grid development is provided. The study period is from 2010 to 2015, with base year 2010 and forecast period from 2011 to 2015.
This research service titled Australia Smart Grid Opportunity-Utility Survey provides a comprehensive insight on the developments in the market, with a thorough analysis of the key market drivers, restraints, opportunities, and revenue forecasts. In this research, Frost & Sullivan's expert analysts thoroughly examine the following: smart meters, demand response, power transmission and distribution, IT services, and Information communication technology (ICT).
Market Overview
Government Policies Boost Demand for Smart Electricity Grids in Australia
Government policies and the need for utilities to expedite operational efficiency have unleashed new opportunities in the Australian smart grid market. Utilities aspire to reach better operational efficiency as they upgrade their electricity grids to incorporate renewable energy sources, while reducing unnecessary capex. Establishing a smart grid provides the most promising solution to it. A shift toward renewable energy sources such as wind power may result in inconsistent production of energy. There is a growing need to smoothly integrate such production of renewable energy, to incorporate environment-friendly electric vehicles, and to manage varying peak demand spikes. Government mandates for smart meter rollouts and pilot projects in various states have driven up momentum for investments in the Australian smart grid market. “The adoption of intelligent power grids help manage multiple new interfaces while ensuring high availability and better operational efficiency through data collection, analysis, and alerts,” notes the analyst of this research service. “Smart grids integrate different technologies such as energy and infrastructure, automation and control, and information communication technology.” Smart grid development in Australia had started with the deployment of smart meters in Victoria. New South Wales has a mandate to deploy smart meters by 2017. Utilities in other states have initiated pilot projects to test the feasibility of various smart grid technologies. Currently, the focus in Australia seems to be on smart meters and demand management. Utilities are keenly watching the outcomes of these pilot projects. Given the results are positive, the chances of a complete smart grid rollout in Australia are extremely high.
Regulations play a critical role in market development. Until recently, utilities have been focusing their attention on increasing power consumption to ramp up revenues. Regulatory support is necessary for them to hike investments on smart grids and changes must be made in the revenue models and incentives offered to encourage efficient consumption of energy. The Australian electricity sector is highly disaggregated and there is a mismatch between benefits and costs. “Establishing a smart grid requires heavy financial investment, and it is uncertain how costs can be recovered in a disaggregated industry,” says the analyst. “As the technologies supporting smart grids are in their developmental phase, scalability and sustainability are vital in the current situation, where there are no prior standards.”
Early participation in pilot projects and developing a business case for smart grids will enable better understanding of the cost benefits surrounding the product for both utilities and regulators. Moreover, establishing a standard platform through a consortium will give utilities the ease of buying. Utilities want to have a single consortium to deliver a complete smart grid solution for them and provide a scalable and interoperable one bridging the present installations and future applications. As the market progresses, sorting out customer concerns such as increase in costs, privacy, technological standards, and change management is of prime importance. While some of these issues can appear operational in nature, careful handling is required to ensure smart grids are deployed in a seamless manner with the support of all participating stakeholders.
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