Updating the Energy Grid…It’s About Time!!
The electric industry is finally making plans to update the inefficient and unreliable energy grid- moving it into the Computer Age! Edison Electric Institute, the association of U.S. shareholder-owned electric companies, predicts that utilities will have to invest hundreds of billions of dollars to update the system. The plan is to replace the analog electricity delivery system with one that is two-way and responsive to updates- what they are calling ‘a smart grid.’ Updating the technology will hopefully cut power usage by 10 percent and lower greenhouse gas emissions by 25 percent.
One part of their plan it to get rid of the outdated electric meters in homes (the ones that count your usage) and replace them with ‘smart meters.’ General Electric Energy is planning to perfect the ‘smart meters’ and improve communication across the grid. There is a huge market for ’smart grid’ components and software- about $20 billion a year- so they will have their work cut out for them.
Altogether, it is a relief to see that outdated and inefficient technology is getting replaced. We are moving forward to improve the energy grid and make the most effective use of the power we currently have available. It will be an expensive journey- but a much needed one.
SOURCE: Fortune