Dubai: Smart grid infrastructure investment by 45 emerging nations - including India and China - over the next decade will reach $274.9 billion, outpacing developed countries, according to a new study.
This investment will be aimed at reducing electricity theft, improving reliability and incorporating renewable energy into electricity grids, the study released by Northeast Group has claimed.
The study - Emerging Markets Smart Grid: Outlook 2014 - found that investments will include smart metering and advancements for transmission and distribution grids. The 190-page study includes a smart grid regulatory country index, scoring all 45 countries.
Already, the 45 countries have deployed a total of 9.5 meters smart meters with two-way communications and this number is set to reach 523 million by 2023.
In 2014 alone, the 45 countries are projected to deploy 5.6 million smart meters. Electricity theft costs these countries $47 billion annually.
Investment in distribution network technology, or distribution automation, will cumulatively reach $118.8 billion by 2023.
Singapore, Estonia and Poland lead the index, with Slovenia and China rounding out the top five.The study includes regional forecasts from 2013-2023.
These forecasts cover AMI (smart metering), distribution automation, home energy management and information technology.
"Our third volume of this annual study pinpoints where smart grid investments will occur in emerging markets. Large countries such as India and Turkey have provisional smart meter deployment targets and new financing sources are developing," Ben Gardner, president of Northeast Group, said.