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Stimulus Grant to Regenerate the U.S. Power Grid Drives the Substation Integration and Automation Market - The U.S. Government's initiatives to reduce carbon emissions have increased the demand for electricity
Stimulus Grant to Regenerate the U.S. Power Grid Drives the Substation Integration and Automation Market

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2011/03/24 - The U.S. Government's initiatives to reduce carbon emissions have increased the demand for electricity.

   
 
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The American Recovery and Reinvestment Act (ARRA) announced $4.5 billion in stimulus grants to modernize the nation's electrical grid. To qualify for these smart grid stimulus grants, applicants were required to, at least, match federal funding for their projects.

New analysis from Frost & Sullivan (energy.frost.com), North American Substation Integration and Automation Market, finds that the market earned revenues of $392 million in 2009 and estimates this to grow at a compound annual growth rate (CAGR) of 7.1 percent between 2009 and 2016.

If you are interested in more information on this study, please send an email to Britni Myers, Corporate Communications, at britni.myers[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

"With the inclusion of matching funds, the investments in the smart grid projects should be well over $8 billion," notes Frost & Sullivan senior research analyst Vignesh Sundaram. "These investments are expected to spread over at least for two years period."

Although announced in 2009, the stimulus money allocated to projects has started only during 2010. Moreover, the electric vehicles, touted as the future of the transport industry, are likely to burden the present infrastructure further. Many utilities are aware of this situation and expect to drive the market for substation integration and automation in the future.

Most utilities do not have adequate skilled resources to help the substation comply with the North American Electric Reliability Corporation (NERC) critical infrastructure protocol (CIP) standards. In particular, there is a dearth of resources required to operate the enhanced automation in substation.

Competition in the market has intensified, with the tier-one manufacturers offering turnkey solutions, which pressurizes companies that work only as system integrators to compete effectively. With big corporations possessing the capacity to provide customized projects and the system integrators competing for business, the market is gravitating toward leaner distribution network.

The plethora of opportunities notwithstanding, energy market participants see challenges to secure the electric grid from cyber attacks, as there has been an increase in the breaching of the cyber security from 2008.

"The NERC, overseen by the Federal Energy Regulatory Commission (FERC), requires companies to designate ‘critical cyber assets'," said Sundaram. "This makes it mandatory for utilities to implement the CIP."

Security for an older substation that is vulnerable to cyber attacks needs enhancing. The security measures must seek to prevent infringement of the electric system. With the demand for electricity consumption expected to increase and the higher need to connect the renewable power to the grid, there is considerable market potential for the new substation installations.

North American Substation Integration and Automation Market is part of the Energy & Power Growth Partnership Services program, which also includes research in the following markets: North American Electrical Equipment to Power Distribution Market, North American Electrical Equipment to Power Generation Market and North American High Voltage Transmission Technologies Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

North American Substation Integration and Automation Market / N738

 
 
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Stimulus Grant to Regenerate the U.S. Power Grid Drives the Substation Integration and Automation Market

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Publisher Contact: Britni Myers 
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