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Industry Landscape
The smart grid technology industry is experiencing significant growth, driven by increasing demand for renewable energy integration, energy efficiency, and grid modernization. Regulatory support and technological advancements are accelerating its expansion, transforming traditional power infrastructure into intelligent, resilient, and sustainable systems. Focus is on data integration, operational efficiency, and overcoming initial capital expenditure challenges.
Total Assets Under Management (AUM)
Smart Grid Market Size in United States
~Approx. 20 billion USD (2023)
(15-20% CAGR)
The Smart Grid Market Size in the US is driven by:
• Grid modernization initiatives
• Increased renewable energy integration
• Focus on energy efficiency and resilience
Total Addressable Market
Over 200 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-powered Grid Management
AI and machine learning are revolutionizing grid operations by enabling predictive maintenance, optimized energy flow, and real-time anomaly detection, significantly enhancing reliability and efficiency.
Blockchain for Energy Trading
Decentralized blockchain platforms facilitate secure and transparent peer-to-peer energy trading, empowering consumers and enabling more efficient renewable energy integration.
Advanced Energy Storage Solutions
Innovations in battery technology and other storage methods are crucial for stabilizing grids with high renewable penetration, improving resilience and energy availability.
Impactful Policy Frameworks
Infrastructure Investment and Jobs Act (IIJA) 2021
The IIJA allocates significant federal funding (over $65 billion) towards upgrading the U.S. power grid, including investments in smart grid technologies, clean energy transmission, and grid resilience.
This policy creates substantial funding opportunities for grid modernization projects, directly benefiting Envida Group by increasing demand for their smart grid solutions and services.
Inflation Reduction Act (IRA) 2022
The IRA provides significant tax credits and incentives for renewable energy deployment, energy storage, and clean energy manufacturing, aiming to accelerate the clean energy transition.
The IRA's incentives lower the cost of renewable energy and storage projects, making Envida Group's integrated solutions more attractive and financially viable for clients.
Federal Energy Regulatory Commission (FERC) Order 2222 (2020)
FERC Order 2222 requires regional wholesale electricity markets to enable distributed energy resources (DERs), including rooftop solar and battery storage, to compete on a level playing field.
This order drives increased integration of DERs, creating a need for advanced grid management and optimization solutions that Envida Group can provide to utilities and developers.
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