The high-tech industry in southwest Washington has realised the smart grid presents excellent business opportunities. Research laboratories in the region have already developed smart grid products and plan to claim a slice of the $4.1 billion in stimulus funding. Other companies are strategizing on how to enter the developing market.The smart grid market, already worth $6 billion, is expected to grow in value by an astronomical 21 percent for the next five years according to the Specialists in Business Information based in Rockville, MD. “The development and deployment of smart grid will involve all our tech businesses at some time,” said Bart Phillips, president of the Columbia River Economic Development Council located in Vancouver, Washington. “The whole knowledge base is basically in Vancouver and Portland; we’re ground zero for smart grid here in the Northwest.Aging electrical infrastructure throughout the United States and the world requires a major upgrade. By bringing electric power into the information age, utilities will gain precise control over their assets and consumers will be able to closely monitor their energy consumption and actively participate in energy conservation programs.The opportunities are significant for tech firms based in southwest Washington. Every smart device will need some sort of microprocessor to allow for communications bi-directionally among power plants, utilities, and consumers. The region is home to 340 high-tech companies plus leading research laboratories including the Pacific Northwest National Laboratory.
“Most companies involved with Internet technologies have an opportunity with the smart grid,” said Steve Jennings, chief marketing officer of BPL Global, a start-up firm focused on developing smart grid technology. “This is just getting started; it’s a long-term trend and market opportunity with the federal funding being a large catalyst.”
Silicon Forest Electronics assembles high-tech equipment for the aerospace, defence, and medical industries. Jay Schmidt, sales and marketing manager at the company, says it would be an easy transition for the firm to manufacture smart grid components. “We like the idea of diversifying our market,” he said. “And smart grid is a growth industry.”
Underwriters Laboratories (UL) has already entered the smart grid market. The firm is testing smart meters that will eventually replace standard electric meters located in American homes and businesses. According to Clyde Kofman, senior vice president of commercial operations at the company, UL is also working to develop performance requirements for a variety of smart devices. Kofman said that sensors are being developed at the company that can automatically turn off power when no one is present.
Despite the seemingly glaring opportunities, businesses are hesitant to introduce new products and services until they are certain they can recover their investments from the market. Rob Pratt, energy and environment director at Pacific Northwest National Laboratories said that smart meter development costs are easy to justify, but other technologies still in the testing stage are not.
“The business case for the smart grid as a whole has not been unequivocally made to everyone’s satisfaction,” said Pratt. Sophisticated tinkering with existing Internet technology is needed to make sure new smart gadgets will work with old electrical infrastructure.
Specialists in Business Information
11200 Rockville Pike, Suite 504
Rockville, MD 20852
http://www.sbireports.com
Columbia River Economic Development Council
805 Broadway, Suite 412
Vancouver, WA 98660
http://www.credc.org
Pacific Northwest National Laboratory
P.O. Box 999
Richland, WA 99352
http://www.pnl.gov
BPL Global
500 Cranberry Woods Drive, Suite 170
Cranberry Township, PA 16066
http://www.bplglobal.net
Silicon Forest Electronics assembles high-tech equipment for the aerospace, defence, and medical industries. Jay Schmidt, sales and marketing manager at the company, says it would be an easy transition for the firm to manufacture smart grid components. “We like the idea of diversifying our market,” he said. “And smart grid is a growth industry.”
Underwriters Laboratories (UL) has already entered the smart grid market. The firm is testing smart meters that will eventually replace standard electric meters located in American homes and businesses. According to Clyde Kofman, senior vice president of commercial operations at the company, UL is also working to develop performance requirements for a variety of smart devices. Kofman said that sensors are being developed at the company that can automatically turn off power when no one is present.
Despite the seemingly glaring opportunities, businesses are hesitant to introduce new products and services until they are certain they can recover their investments from the market. Rob Pratt, energy and environment director at Pacific Northwest National Laboratories said that smart meter development costs are easy to justify, but other technologies still in the testing stage are not.
“The business case for the smart grid as a whole has not been unequivocally made to everyone’s satisfaction,” said Pratt. Sophisticated tinkering with existing Internet technology is needed to make sure new smart gadgets will work with old electrical infrastructure.
Specialists in Business Information
11200 Rockville Pike, Suite 504
Rockville, MD 20852
http://www.sbireports.com
Columbia River Economic Development Council
805 Broadway, Suite 412
Vancouver, WA 98660
http://www.credc.org
Pacific Northwest National Laboratory
P.O. Box 999
Richland, WA 99352
http://www.pnl.gov
BPL Global
500 Cranberry Woods Drive, Suite 170
Cranberry Township, PA 16066
http://www.bplglobal.net
