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Smart Grid Revenue To Hit 73 Billion Annually By 2020

19 Jun 2013

The Smart Grid sector of the clean energy industry is likely to see the largest growth in the coming years. Smart grid technology is already a hugely successful market, with $33 billion in global revenue in 2012, but this is set to more than double by the end of this decade and hit $73 billion in annual revenue by 2020, according to a new Navigant Research Report.

This prediction may also be an underestimate because both the $73 billion annual revenue and 10% growth rate estimates do not include Africa or the grid needs of its one billion people.

Unlike many other clean energy industries, smart grid’s growth underscores the diversity of its applications, which empower different technologies to lead varying geographic markets depending on the local energy network needs. This diversity in local conditions means that different forms of smart grid will be needed and will therefore lead that specific market.