Skip to main content

Smart Grids will Deliver $18.8B in Cost Savings by 2021

Internet of Things (IoT) technologies are enabling municipalities around the globe to implement a series of digital transformation projects. Juniper Research has found that European cities are forging ahead with efforts to become Smart Cities, with 60 percent of the world’s leading smart city projects based in this region.

Innovation to reduce congestion and energy consumption were key initiatives across many European cities, according to the findings from their latest worldwide market study.

Juniper’s Smart City Rankings have been compiled following an extensive study of numerous cities around the world. Juniper applied forty metrics in their study -- covering technology, transport, energy, open data and the local economy.

The top ranking Smart Cities for 2016 are:

  1. Singapore
  2. Barcelona
  3. London
  4. San Francisco
  5. Oslo

"When addressed effectively, the impacts of reduced congestion are substantial -- higher economic productivity, potential for new revenue streams and services as well as a measurable benefit in reduced healthcare costs," said Steffen Sorrell, research analyst at Juniper Research.

Singapore Leading Smart City Efforts

The top ranked city, Singapore was found to be a world leader in applying smart mobility policies and technology. Meanwhile, the city’s fixed and cellular broadband services, city software apps and strong open data policy led to it taking the top spot for 2016.

According to the Juniper assessment, with efforts to become a Smart Nation now underway, Singapore serves as a beacon from which other cities can learn best practices.

How Renewables are Driving Smart Grids

Additionally, the research uncovered that deployment of smart grid technologies has found its way onto the agenda for leading cities across the globe.

Alongside increased pressure on resources from urban migration, this common goal is driven, in large part, by a shift towards new renewable energy sources -- such as solar power and wind generation. North America and parts of Asia in particular, are showing strong investment in renewable energy technologies.

The anticipated results of these electric power projects are encouraging. Overall, Juniper anticipates that the smart grid technology deployment will deliver $18.8 billion in cost savings in 2021.

This will be achieved through reduced energy use and avoided economic costs from emissions. The reduced emissions are equivalent to those produced by nearly 15 million homes annually.

Popular posts from this blog

Digital Transformation Spending Reaches $1.8 Trillion

Ongoing investment in business technology will remain on track, despite concerns about the global economic outlook which continues to evolve in 2022. Enterprise CIOs and CTOs are focused on operational profitability and digital business growth goals that are enabled by strategic IT initiatives. Global spending on the Digital Transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022 -- that's an increase of 17.6 percent over 2021, according to the latest market study by International Data Corporation (IDC). Many anticipated DX investments will sustain this pace of growth throughout the 2021-2025 forecast period, with a five-year compound annual growth rate (CAGR) of 16.6 percent. Digital Transformation Global Market Development "IDC expects to see aggressive DX technology investment growth in 2022 following a minor slowdown during the pandemic period," said Craig Simpson, senior research manager at IDC . "As orga

Flexible Working: Why Company Culture Matters

The main reasons for the Great Resignation are obsolete leadership, fearful middle managers, and a toxic culture that hinders employee engagement. Perhaps that's why some organizations are still struggling with the consideration and development of a flexible working model.  They're incapable of evolving to a more enlightened approach to work where employees are treated with respect. They're stuck in a bygone era of the 20th-century industrial revolution where 'shareholder value' tops all other values, and where spreadsheets and financial data analysis drives all key decision making. We should not be surprised that 76 percent of human resource (HR) leaders now feel that hybrid work challenges an employee's connection to organizational culture, according to a recent survey by Gartner. A 2022 poll of HR leaders reveals the most challenging aspect of setting their hybrid strategy is adjusting the current organizational culture to support a hybrid workforce. In fact,

Energy Sector IoT Cybersecurity Gains Momentum

The electric distribution industry continues to invest in digital transformation projects. Advanced Metering Infrastructure (AMI) technology is becoming a driver for connected electricity meters, which will reach an installed base of 1.3 billion by 2027. AMI growth is prompting utilities and energy suppliers to revisit their IT infrastructure security and device management operations, according to the latest worldwide market study by ABI Research. Energy Infrastructure Security Market Development Digitization of traditional electricity grids and the modernization of the aging energy infrastructure is among the top concerns for utility operators and governments worldwide. Security for last-mile energy consumption applications was frequently overlooked. "However, the introduction of AMI, smart metering, and grid digitization is steadily increasing spending for secure management services, assisting implementers to transition to IT (information technologies) and OT (operational techno