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Smart Grid Spending Could Increase to $40 Billion by 2015

By Kelly McGuire March 03, 2010
Anyone who lives in the Northeast remembers the blackout in July 2003. I know I do; I was driving home from work, with absolutely no gas, praying I made it home since no gas stations were working. The next day, I waited 17 hours in JFK airport to try and get my flight to London.
 
Needless to say, it was no picnic. Suffice to say, that after events like that, it’s no wonder America’s electric power grid has been such a hot topic and investment venture – we all know it needs a bit of a boost, eh?
 
Well, according to some news on Smart Money, the smart grid movement has been doing its best to evolve as the modern day power grid. With Cisco’s big proclamation last summer that power networks eventually would eclipse the Internet as a business opportunity for the Web pioneer, people were shocked and scared about what this meant.
 
Today, investments for smart grids stem to about $10 billion, according to Barclays Capital. Rumors are surfacing that spending for the smart grids – including metering, monitoring devices and all other technology – could stem as much as $40 billion by 2015.
 
Let’s just hope some of this moolah will go to eliminating blackouts. I have a plane to catch back to London next July. Wink wink.

Kelly McGuire is a IoTevolutionworld Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling IoTevolutionworld's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.

Edited by Kelly McGuire

IoTevolutionworld Editor

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