Dive Summary:
- Turkey has announced plans to invest $5 billion into improving the smart grid's network efficiency by 2015.
- The U.S. government declared there are many opportunities for American energy and smart grid companies to help facilitate Turkey's ambitious project.
- Turkey expects a power-demand growth of 6.3% per year over the next 20 years and has already attracted the services of General Electric, Siemens AG and Vestas Wind Systems A/S.
From the article:
"... The jump in demand increases the need for smart grids, which allow power generators and users to monitor consumption and reduce costs by saving energy in transmission. Turkey is seeking to boost efficiency of supply after demand grew 5.1 percent last year, while generation expanded only 4.2 percent, according to data from Turkish Electricity Transmission Co.
'If the utilities want to take advantage of this, the accurate metering and billing that smart grids can provide will be vital,' said Chris Rogers, a utilities analyst for Bloomberg Industries in London. 'As Turkey becomes richer, more air- conditioning, solar power and electric vehicles will be bought, which also need smart grids to function properly.' ..."