Around €6 billion has been invested in smart grid projects in Europe, including 281 smart grid R&D projects and 90 smart metering pilots and rollouts, but more investment is needed particularly in smart metering, with an estimated €50 billion required for 250 million smart meters by 2020.
Further some €480 billion is required to upgrade the rest of the system by 2030.
These figures were presented by Jan Panek from the European Commission’s Energy Directorate at the European Smart Metering Industry Group (ESMIG) and European Distribution System Operators (EDSO) for Smart Grids’ meeting on the status of smart metering in Europe during the EU’s Sustainable Energy Week last month.
Panek also pointed out that the success of the smart metering rollout depends in part on criteria largely decided by the metering systems themselves, including the smart meter functionalities.
It also depends on convincing the consumer, including ensuring personal data protection and empowering them through demand response.