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POWRtec: Smart Meter Market Expected to Grow SignificantlyAug 18, 2011 (Close-Up Media via COMTEX) -- POWRtec, a California-based energy monitoring company, announced that it comments on recent developments within energy management technology for the domestic market. The company noted that smart meters provide consumers with an amount of control over their energy usage within the home. When used in conjunction with complimentary energy management devices around the home, a smart network is created with the ability to monitor and reduce power consumption at peak times. Similarly, the technology allows for the utility companies to more accurately control and avoid excess energy production. The implications for cost and energy savings are significant for both consumer and utility provider. "The potential savings for the average consumer as well as for the utility providers make smart meter solutions extremely appealing," comments Grant Jasmin, CEO of POWRtec. "This win-win solution promises a potential huge growth for the smart meter industry." According to energy market research specialists, Pike Research, the smart grid industry is expected to grow from $356 million in 2010 to nearly $4.2 billion by 2015. By that point, government and private sector investments in smart-grid technology are expected to total more than $45 billion. According to GE, this consumer-driven demand response reduction could provide the largest reduction in U.S. electricity peak demand. "Perhaps most significant of all is the long term benefit to our environment," adds Grant Jasmin. "Smart meter technology empowers the consumer to make responsible choices regarding their energy usage within the home, something they are not currently able to do with conventional monthly bills." ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ] |