Smart grids promise massive savings

Smart grids could save city dwellers up to $14 billion per year in energy bills by 2022, finds a new study from Juniper Research. It also named Seoul the top smart city in terms of energy consumption and delivery.

New data from Juniper Research paints a very positive picture for the future of smart grids. In its study Smart Cities: Strategies & Forecasts in Energy, Transport & Lighting 2017-2022, the consultancy found that smart grids have the potential to save city dwellers $14 billion per year in energy bills by 2022.

This is up from the $3.4 billion in savings estimated for 2017 resulting from smart meter rollouts, energy-saving policies and sensor technology used to improve grid reliability and efficiency.

As part of the same study, Juniper also analysed and ranked global cities to assess their performance and approach towards energy consumption and delivery. Seoul came at the top of the list.

“Seoul’s large-scale deployment of electric vehicle charging infrastructure, smart street lighting and smart meter rollouts will undoubtedly accelerate the development of smart grid infrastructure to manage these elements,” research author Steffen Sorrell said in a statement.

The South Korean capital was followed by San Francisco, New York, Portland and Barcelona.

The research also highlights the importance of policy over technology. For instance, Mobility as a Service (MaaS) has the potential to drastically reduce city congestion by nearly eliminating the need for private transport. But strict city policy enforcement is needed to achieve this. For this reason, Juniper predicts that cities in Far East Asia will become ‘true’ smart cities earlier than their Western counterparts.

 

Image credit: Chingazo via Flickr

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