View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. Comment
August 18, 2021

Smart Grid in Power: Regulatory Trends

Changes in regulation, policy, and consumer expectations are driving the transformation in the utility sector thereby increasing the adoption of smart digital technologies. Utilities, however, are facing challenges in integrating these innovative technologies into legacy infrastructure.

By GlobalData Thematic Research

Listed below are the key regulatory trends impacting the smart grid in power theme, as identified by GlobalData.

Free Report
img

How can hydrogen ride the sustainability wave?

The Hydrogen market is expected to expand significantly in the next few years – GlobalData has tracked more than 43.6 mtpa of total active and upcoming low carbon hydrogen production capacity (green and blue hydrogen). As the industry develops and the cost of producing hydrogen drops, demand is expected to increase significantly. As a result, countries across the world are announcing much needed supporting policy framework for hydrogen. While refining and ammonia production have traditionally been the key consumer sectors for hydrogen, new uses such as transport and energy storage are set to influence the market. While green hydrogen presently has a small share in the overall production mix, it is poised to increase given the ambitious targets announced by various countries. GlobalData’s report provides insights into key issues in the emerging hydrogen space, such as:
  • Hydrogen value chain
  • Demand drivers
  • Key application areas
  • Technology trends
Read this report and formulate winning strategies for your business.
by GlobalData
Enter your details here to receive your free Report.

Smart grid policies and incentives

Government policies and initiatives are key enablers for smart grid adoption. Innovative policies and regulations have helped in creating environments for market demand to augment the implementation of smart grids in some countries, which was achieved through the provision of profitable business opportunities for stakeholders. Many governments view smart grids as strategic infrastructure that will support long-term economic prosperity and help them attain their carbon emission reduction targets.

The European Union (EU) member states consented to the EU Commission’s proposal for an investment of $1.147bn (€998m) in energy infrastructure in October 2020. The EU Commission, through its Clean Energy Package, incorporates measures to enable grid operators to deploy smarter technology. The EU also introduced a Strategic Energy Technology plan in 2007 for the development of a smart electricity system over the next 30 years.

The major reasons for increased smart grid investment in the US include enhancement of reliability, connections to renewable resources, demand shifts, increase in cost, and market reforms that create more options for independent generators and require new connections to transmission systems. Policy and regulatory drivers at the federal and state levels for demand response, energy storage, net metering, and cybersecurity have been the major drivers for innovation in energy efficiency programmes, analytical tools, two-way communication systems, and consumer engagements in the US.

Set up roadmaps for standardisation and interoperability

New services and development of technology platforms has increased the requirement for devices to communicate and function seamlessly throughout all levels of the grid. Smart grids enable technologies to be positioned in a part of the energy system and connect with elements in various sectors and geographies as well as be utilised by numerous stakeholders across the power value chain.

Lack of interoperability between different elements such as electric vehicle (EV) charging infrastructure, smart metering infrastructure, remote monitoring and control equipment is considered as a key hurdle to stepping up and transferring solutions, which have been validated in a different network, city or system.

This is an edited extract from the Smart Grid in Power – Thematic Research report produced by GlobalData Thematic Research.

Related Companies

Free Report
img

How can hydrogen ride the sustainability wave?

The Hydrogen market is expected to expand significantly in the next few years – GlobalData has tracked more than 43.6 mtpa of total active and upcoming low carbon hydrogen production capacity (green and blue hydrogen). As the industry develops and the cost of producing hydrogen drops, demand is expected to increase significantly. As a result, countries across the world are announcing much needed supporting policy framework for hydrogen. While refining and ammonia production have traditionally been the key consumer sectors for hydrogen, new uses such as transport and energy storage are set to influence the market. While green hydrogen presently has a small share in the overall production mix, it is poised to increase given the ambitious targets announced by various countries. GlobalData’s report provides insights into key issues in the emerging hydrogen space, such as:
  • Hydrogen value chain
  • Demand drivers
  • Key application areas
  • Technology trends
Read this report and formulate winning strategies for your business.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology