Britain well placed to win smart grid global race 01 May 2012

Britain could be a world-leader in the technology that will create 'smart grids' – the intelligent networks set to will revolutionise the way power is generated and used.

That's among key findings of a report by engineering consulting group Ernst and Young for the SmartGrid GB group – and it also predicts thousands of high skilled jobs, substantial domestic investment and a £5bn export market.

Countries across the world are looking to develop smart grids, which are expected to be vital to delivering the benefits of innovations such as renewables, micro-generation and electric vehicles.

The grand claim is that they will also give everyone much greater understanding and control over the pricing and usage of electricity – and help achieve carbon reduction targets.

However, the report warns that, although the UK is currently well placed, there is a "decreasing time window to do so", with other countries – notably South Korea, China and the USA – all developing smart grids.

"There is a strong business case and we should not delay in developing a smart grid," insists Robert McNamara, manager SmartGrid GB.

"If Britain is willing to take a global leadership position there are potentially enormous benefits," he continues.

"But if we want to be a serious competitor in the global smart grid race we must prioritise laying the relevant groundwork for its accelerated development to take place."

"The report shows that the transition to smart grids will require substantial investment, but should also deliver substantial benefits," comments Bill Easton, utilities director at Ernst & Young.

"The report estimates that additional investment of £23 billion will be needed, but that this will deliver benefits of up to £19 billion. Significantly, the benefits also appear to be robust across widely varying scenarios for future usage of the networks."

The report 'Smart Grid: a race worth winning' provides the most detailed assessment yet of the potential benefits that development of a smart grid could deliver to the British economy, and was commissioned by the 23 companies that make up SmartGrid GB.

Brian Tinham

Related Companies
Ernst & Young
GE Energy Services

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