BASINGSTOKE, England, Nov 29 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found cost savings from smart grid deployments will exceed $125 billion globally in 2027; increasing from just over $33 billion in 2022. This 279% growth will be driven by rising energy prices, with smart grid technologies playing a critical role in increasing network efficiency and optimising resource management. The Smart Grid market report identified abilities of AI-based analytics as crucial to maximising benefits of new renewable energy sources, by actively balancing load and optimising energy transmission.
Smart grids are electricity networks using advanced technologies to monitor and manage transport of electricity from all generation sources to meet varying electricity demands of end users.
