/19th September 2013, RENEWABLE MARKET WATCHTM/ To date, the power supply has been governed by the consumption-oriented generation model. Because power will be increasingly generated from renewable energy sources in the future, it is necessary to move towards a so-called "Internet of Energy" model. This model is based on principles of smart power generation, smart power grids, smart storage, and smart consumption. Information and communication-based technologies (ICT) will play a central role in connecting the different parts of the energy system.
Obviously, today is difficult to single vendor to offer business organizations everything they need. For this reason, they have to integrate multiple systems and technologies from various vendors to achieve their energy reduction goals. To build approach on how to find the appropriate vendors, which could provide relevant smart grid solutions is a complex and difficult task for most of the managers.
All appliances connected to the power grid are added to the control system like a "plug-and-play" application. This allows a completely integrated data and power network to be created. Intelligent ICT solutions will allow smart grids to efficiently manage power generation, consumption and storage in tandem with so-called "smart meters."
Central Eastern Europe (CEE) and South Eastern Europe (SEE) smart grid market is one of the most promising emerging markets. The cumulative market value in this region will exceed €5.9 ($7.83) billion by 2018, according to the research department of Inea Consulting Ltd. Research analysts of the company predict also that almost all utilities in the region will have a deployment of smart grids to all of their customers by 2025 owing to the requirements of EU legislation, the need to absorb an increasing share of renewables electricity generation, distribution losses reduction, O&M costs reduction, etc. The EU requires member states to have at least 80% smart meter coverage by 2020. A total number of 281 smart grid projects and around 90 smart metering pilots and roll-outs are in process of execution in 30 European countries.
More information about current penetration of smart grid technologies and their integration into renewable energy markets of CEE and SEE countries you may read here: CEE & SEE Countries Solar, Wind and Biomass Market Outlooks 2013 - 2018