ReportsnReports adds new market research report ‘Smart Grid Landscape in Europe – Market Size, Key Issues, Regulations, Investment Analysis and Outlook to 2020′ to its store.
According to a release on March 27, development of electric vehicles and its market in Europe is dependent on non-financial incentives. Non-financial incentives, such as exclusive parking stations for EV owners, reserved traffic lanes and free use of toll roads, can provide extra benefits to EV owners by saving their time and money without costing the government to any great degree. This could lead to EVs becoming a financially viable alternative to internal combustion engine (ICE vehicles in Europe. Overall both financial and non-financial incentives will be required to ensure the market growth increases over the next eight years. A number of plans and incentive schemes have been introduced by the governments of different European nations to promote the sale of EVs in the region.
Resource sharing by interlinking of grids in various European countries will help these nations to satisfy their electricity needs. Interlinking of grids will ensure the optimum utilization of renewable resources, as the potential for generation of electricity from renewable resources for most countries is not significant. For instance, the excess wind energy produced in the UK during periods of low demand for electricity could be transferred to Norway and be used to pump water into the countrys hydro electric power stations. Similarly, during periods of high electricity demand in the UK, electricity produced by hydropower in Norway could be transferred to the UK for consumption. The construction of a super smart grid (SSG in Europe would help in optimizing the utilization of the enormous potential for solar and wind power from North Africa, thereby satisfying the electricity needs of the Mediterranean and the rest of Europe.
Government regulations and projects supporting the deployment of smart grid technologies are attracting venture capital firms to invest in smart grid technology in Europe. In 2011, the smart grid market in Europe offered a significant opportunity for private funding in comparison to public sector funding.
The presence of an untapped market in the European smart grid sector is expected to foster the emergence of new technology vendors. However, these new entrants will need significant capital infusions in order to commercialize their technologies. Venture capital firms can act as possible sources of financing to these new businesses, with the aim of generating a better return on their investments once the technology becomes successful commercially.
The European Union (EU is dedicated to the development of smart grid infrastructure over the next 8 years based on the numbr of funding activities, one among which is the introduction of the Seventh Framework Program (FP7 (2007-2013, a successor to the Sixth Framework Program (FP6. A number of funding and financing programs are available to support research, development and demonstration (RDD activities relating to smart grid projects and the direct investments needed for the development of power related infrastructure in Europe. There is a continuing trend of funding programs for the development of a smart grid in Europe. Continuous smart grid development will require regular government support and financial funding from the European government in the future.
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