Authored by Matthew Purnell, Juniper Research, June 2024

This report examines the potential of smart grids to improve energy supply and demand coordination while integrating renewable energy sources. It predicts $290 billion in savings by 2029 through smart grid technologies but notes several challenges, including high capital costs, regulatory uncertainties, and increased cybersecurity risks. The report emphasizes the role of battery energy storage in addressing renewable energy intermittency and highlights software-driven benefits like automated fault detection.

Keywords: Internet of Things (IoT), Renewable Energy, Smart Grid, Utilities