Cities and Communities Smart Energy Market Expected to Reach $64 Billion by 2020
Smart energy communities that integrate multiple clean energy technologies are key to developing zero carbon cities
A new report from Guidehouse Insights analyzes the global market for technologies that support the development of smart energy community concepts, providing forecasts for all world regions, including breakouts by advanced energy technologies and smart grid applications, through 2030.
As the nature of energy generation and use becomes more distributed, more flexible, and more digital, entire communities are beginning to combine various emerging smart energy technologies to achieve greater levels of grid resilience and reliability at a lower financial cost. Whether isolated islands, green field residential developments, or urban multifamily housing blocks, smart energy communities are combining renewable energy generation, energy storage, smart meters, green buildings, blockchain, and other technologies to exert more control over their energy usage. Click to tweet: According to a new report from @WeAreGHInsights, the cities and communities smart energy market is expected to grow to $63.9 billion by 2030 at a compound annual growth rate (CAGR) of 10%.
“The need for smart energy communities is being driven primarily by the need to increase energy resilience and reduce carbon emissions,” says Eric Woods, research director with Guidehouse Insights. “Energy consumers are also expressing an interest in using energy that is generated locally and that they can partly control. Other clean energy developments, such as the expansion of electric vehicle ownership, are also influencing new approaches to community energy provision.”
While technology challenges still exist, the biggest barrier to the faster deployment of smart energy communities is the need for complex stakeholder management. The sometimes-conflicting demands of residents, local government, energy providers, grid operators, regulators, and real estate developers all need to be balanced. Open and transparent communication between stakeholders and early community engagement are therefore key to successful projects.
The report, Smart Energy Communities, analyzes the global market for technologies that are often combined in smart energy community concepts. The market forecast provides an analysis of market issues, including emerging trends, opportunities, and barriers, for the deployment of these community-based configurations of smart energy technology. Global market forecasts are included for all world regions, including breakouts by advanced energy technologies and smart grid applications, and extend through 2030. The report also examines key issues related to the development of smart energy communities as well as select industry players and case studies. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Smart Energy Communities, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.