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Edition: U.S. Article Comments (5) Follow Reuters Facebook Twitter RSS YouTube Read Tornadoes leave seven dead in Oklahoma, Kansas | 2:35am EDT Hines Ward scores "Dancing With the Stars" win 12:37am EDT Zuma plans Libya trip to discuss Gaddafi exit: radio | 2:34am EDT San Diego family of 4 found dead in pool and bathtub 24 May 2011 Democrat Kathy Hochul wins upstate New York race 12:11am EDT Discussed 326 Obama and Netanyahu face tense meeting on Mideast 125 As hours tick by, ”Judgment Day” looks a dud 105 Broadcaster silent as Judgment Day hours tick by Watched Deadly Missouri tornado captured on video Mon, May 23 2011 Scientists revive ancient spider in stunning 3D detail Tue, May 24 2011 The business of managing old age 3:22am EDT U.S. smart grid to cost billions, save trillions Tweet Share this NEW YORK (Reuters) - A planned modernization of the U.S. national power grid will cost up to $476 billion over the next 20 years but will provide up to $2 trillion in customer benefits over that time, according to industry experts. The so-called... Email Print Related News Toshiba cautious on nuclear sales, eyes renewables Tue, May 24 2011 Tepco chief quits after $15 billion loss on nuclear crisis Fri, May 20 2011 Special report: GE thrives, Wall Street yawns, Immelt charges on Thu, May 19 2011 Japan keeps Fukushima shutdown target despite setbacks Tue, May 17 2011 Toshiba close to deal to buy Landis+Gyr: source Tue, May 17 2011 Analysis & Opinion China’s growing presence in Africa SBI-led weakness to continue, monsoon next trigger Related Topics Technology » Media » Green Business » The sun rises behind windmills at a wind farm in Palm Springs, California, February 9, 2011. Credit: Reuters/Lucy Nicholson NEW YORK | Tue May 24, 2011 4:54pm EDT NEW YORK (Reuters) - A planned modernization of the U.S. national power grid will cost up to $476 billion over the next 20 years but will provide up to $2 trillion in customer benefits over that time, according to industry experts. The so-called "smart grid" will save energy, reduce costs and increase reliability by delivering electricity from suppliers to consumers using two-way communication that can control appliances, the charging of electric vehicles and the flow of power from renewable sources at customers' homes. "The implementation of the smart grid is a continuous process. As new technology is developed and becomes cost effective, it is being used to find the most effective way to meet supply and demand," Matt Wakefield, smart grid program manager at the Electric Power Research Institute (EPRI) said in a conference call on Tuesday. To make the power system of the future a reality, EPRI, a non-profit electric research and development company, said power companies need to invest between $17 and $24 billion a year over the next two decades. Much of those costs will be passed onto consumers. "We need to tell power customers there is going to be an improved power system that will result in reduced costs even if they do not see an immediate reduction in their bill," said Clark Gellings an EPRI Fellow. By the year 2050, EPRI estimated the average electric bill will probably go up by about 50 percent if the smart grid is deployed. If not, Gellings said, the average electric bill could go up by almost 400 percent. Some of the biggest technology firms in the world are competing to supply the smart grid infrastructure, including International Business Machines, General Electric, ABB, Siemens, Google, Toshiba, Cisco and Microsoft. Last week, Japanese multinational Toshiba agreed to buy Swiss smart grid company Landis+Gyr for $2.3 billion. MEETING SUPPLY AND DEMAND The giant technology firms want to manufacture the devices and software needed to enable generating facilities to communicate with the equipment that uses electricity. In addition to the giant technology firms, all sorts of firms in the power, renewable, appliance and auto industries can use the smart grid to interact with their customers. Power retailers, like NRG and Consolidated Edison's ConEdison Solutions, can use the smart grid to sell more demand response and other services. Appliance manufacturers, like Whirlpool and Haier Electronics, can sell more energy efficient appliances, and auto manufacturers, like Ford Motor and General Motors, can use the smart grid to power up their electric cars. The nation's current power grid was not designed to meet the needs of a restructured electric marketplace, the increasing demands of a digital society or the increased use of renewable power production. The grid today primarily consists of large coal, nuclear and natural gas-fired generating stations connected to local distribution networks by a high voltage network. The power flows predominantly from the power plant to the consumer. RENEWABLES ON THE RISE The smart grid will continue to depend on large nuclear and fossil-fired power plants but also includes a substantial number of energy storage and renewable generating facilities. Not surprisingly, the major technology companies like GE, Siemens and Toshiba, also dominate the renewable space. But there are plenty of other wind and solar companies that can benefit from the smart grid, including FirstSolar, Sharp and Vestas Wind. Consumers want reliable and low cost power but increasingly they also want clean electricity. In his State of the Union message in January, President Barack Obama set a goal of 80 percent clean energy by 2035 and even though he included nuclear power and clean coal in that goal, there is still a lot of room for more renewable sources. The United States gets about 46 percent of its power from coal, 21 percent from natural gas and 20 percent from nuclear. Renewables, like wind and solar, generate less than 5 percent of the total, according to data from the federal government. (Reporting by Scott DiSavino; Editing by Alden Bentley) Technology Media Green Business Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (5) NobleKin wrote: This issue is one of economic and mortal life and death. Let Republicons work to cry Big Government and ‘Drill baby, Drill’ at their own peril. All Americans must understand and commit to what must be done to get our national energy infrastructure where it needs to be. Our security and long term viability depend on it. May 24, 2011 6:08pm EDT -- Report as abuse d3v wrote: I am assuming there are secondary benefits to this as well. For example can you use the infrastructure laid down as part of this smart grid to deliver high speed Internet access to homes and offices? May 24, 2011 9:58pm EDT -- Report as abuse Jeepgirl wrote: Drill, baby, drill !!!! Also plant those wind turbines everywhere possible. Let’s get everyone to put solar panels on all of their houses. I want to get this country independent of foreign oil. We will always need oil to as it is the basis for plastics in medicine to the plastic cars of the future along with the long lasting paints. Don’t knock oil when you do not know even the basics. It will be needed for the future. We need a combination of all sources to survive. May 24, 2011 11:13pm EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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