Governments and companies are increasingly shifting to smart grids, electrical grids that use digital information and communications technology to gather and act on information. Unlike the traditional electrical grid, the smart grid is a modernized version and has several benefits including optimizing the conservation and delivery of power. The smart grid promises to increase the efficiency of today’s system by around 9% by 2030, saving more than 400 billion kWh each year. The global overall investments in smart grids equal to $590.4 billion up to this year, according to a report by Booz Allen Hamilton. The annual growth rate in investments in smart grid in the Middle East is 8%.
Source : Mercom
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