Spending in 2012 reached $23.68 billion by utilities transitioning their networks to Smart Grid capabilities, according to ABI Research.
The research firm said 2012 spending was 48% of Smart Grid spending to-date. Spending in 2012 on transmission and distribution was more than smart meter investments, with utilities looking to improve their core networks and maximize the benefits of increasing Advanced Metering Infrastructure (AMI) deployments.
"Utilities are investing in the rollout of a broad assortment of new applications and spending is driving new services from a wide range of vendors and consultants," says Jonathan Collins, principal analyst at ABI Research. "The complexity of the new hardware, applications, and the expansive array of suppliers vying to deliver services continues to ensure that systems integrators benefit with a significant share of the spending."
Smart grid spending was up 47.1% in 2012, from $16.10 billion in 2011, as remaining government stimulus funds were spent in the United States and utilities around the world increased their own investments.
Still, the research firm called these the "early years of Smart Grid investments," with spending expected to grow in the next five years to reach $80.8 billion in 2018.
to Daily News