UK Smart Grid could create jobs and boost economy but consumer education is still needed
A newly published report from Ernst & Young states that the UK Smart Grid could boost the British economy by £13 billion and create up to 10,000 jobs, reports experts in energy saving technology EcoAdapt (http://www.ecoadapt.co.uk). However, many consumers are still ill-informed about the Smart Grid, which could hamper the success of its domestic implementation.
Proponents of Smart Grid technology believe that it has the potential to change the way Britain generates, distributes and consumes electricity, with the ability to maximise energy efficiency and reduce electricity costs for both businesses and homes. In addition to this, according to the Ernst & Young report, it could be massively positive for the UK economy. Bill Easton, utilities director at the professional services and accounting firm told the news service Reuters, “In addition to the direct economic benefits, we can also expect to see wider economic benefits to the UK, providing a welcome boost to growth, jobs and exports…These could include close to 10,000 new jobs and exports in excess of £5 billion (pounds)…Overall the report paints a compelling case in favour of smart grids”.
The report did highlight some challenges facing the Smart Grid, however, including a question over whether government-backed schemes would deliver results, as well as the fact that little investment into the Smart Grid before 2023 will mean slow adoption of the technology. It is not just investment that could hamper adoption of the technology, however, with reports suggesting consumers are at best ill-informed about the Smart Grid in general, and at worst are aware of it, yet remain unconvinced of its ability to save them money in the future.
A new survey from PwC in the United States has revealed that a lack of Smart Grid awareness in the US is indeed hampering adoptions: “Utility companies have invested billions of dollars in new Smart Grid program rollouts, but so far, customer adoption has been slow….58 percent of customers have not even heard of Smart Grid technology and those who have feel that they have very limited knowledge of the opportunities that the Smart Grid offers”.
The UK Smart Grid clearly has benefits as well as challenges, just as it has its proponents and its critics, however what seems undeniable is that consumer education is a must – on both sides of the Atlantic – if the full benefits of this energy saving technology are to be realised.
Find out how voltage optimisation technology is providing real and tangible benefits both in cost and carbon reduction at the EcoAdapt website at http://www.ecoadapt.co.uk.
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