The possible market for the technology infrastructure required to transform the nation's ageing power grid into a "smart power web" is predicted to nearly double over the next five years, according to a new survey.
In a report released this week, market analyst Lux Research Inc. found that metering hardware and software integrated with networking technologies would increase by as much as Rs.10,007.28 crore ($2 billion) by 2013 to Rs.23,517.10 crore ($4.7 billion).
Branding the current U.S. power grid as "wasteful, costly, inefficient and ill-equipped to address many pressing energy issues," the report's authors predicted that "smart grid technologies, like advanced metering infrastructure and demand response services, will enable the transformation of the current grid to a more reliable and intelligent power web."
Lux said power distribution is drifting away from centralisation to distributed power generation, storage and intelligence. Other experts said the trend will be driven by countries like India where there is little or no electricity infrastructure and where renewable energy sources like solar are advancing quickly.
The study also found that supplies of raw materials for Li-ion batteries used for transportation will not be constrained, although it predicted some pricing volatility.
Meanwhile, Lux said investment in energy storage technologies is shifting from batteries and fuel cells to "smart grid technologies." Lux found that investments in new grid technologies reached Rs.1,310.95 crore ($262 million) from 2007 to mid-2008.
It said smart grid investments are being driven by the desire of venture capitalists to get a quicker return on their investments.
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