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92% of power and utilities to invest in digital grid in next 12 months

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Staff Writer | November 16, 2016
Digital grid is becoming a primary focus area for the global power and utilities sector, with 92% of companies surveyed planning to invest in the next 12 months.
Digital grid
Energy   Digital grid: powering the future
This is according to a new EY report, Digital grid: powering the future of utilities. In the next 5 to 7 years, investment in digital grid is expected to be in the region of US$500b.

Forty-six percent of respondents confirmed that digital grid – the digitization of electricity, gas and water networks – is a top strategic program or a target for investment over the next year.

Growth in renewables (72%), improvement in infrastructure operations and performance (72%) and cybersecurity risks (60%) were cited as the primary drivers for investment in this area.

An equal number of survey respondents (48%) identified difficulty making a business case, immature technologies and supplier inexperience, and a lack of understanding of the implications as the top barriers to digital grid adoption.


 

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