According to the US Department of Energy, a fully functioning smart grid will mean improved reliability, better efficiency and reduce America’s dependence on foreign oil.
Facts & Quotes
It is estimated that nearly 30 percent of urban congestion is created by drivers cruising for parking. Smart parking services are designed to get drivers to their destinations without searching and the uncertainty related to cost, travel time, payment and other practical considerations.
About 51% of the generating capacity of the US is in plants that were at least 30 years old at the end of 2010. Most gas-fired capacity is less than 10 years old, while 73% of all coal-fired capacity is 30 years or older.7 Moreover, nationally, 70% of transmission lines and power transformers are 25 years or older, while 60% of circuit breakers are more than 30 years old.
In 2000, the one-hour outage that hit the Chicago Board of Trade resulted in $20 trillion in trades delayed.
If every American household replaced just one incandescent bulb with a compact fluorescent bulb, the country would conserve enough energy to light 3 million homes and save more than $600 million annually.
Since 1982, growth in peak demand for electricity – driven by population growth, bigger houses, bigger TVs, more air conditioners and more computers – has exceeded transmission growth by almost 25% every year.
Today’s electricity system is 99.97 percent reliable, yet still allows for power outages and interruptions that cost Americans at least $150 billion each year — about $500 for every man, woman and child.
Between 2003 and 2012, roughly 679 power outages, each affecting at least 50,000 customers, occurred due to weather events.
The grid delivers electricity to more than 144 million end-use customers in the United States.
The grid connects Americans with 5,800 major power plants and includes over 450,000 miles of high voltage transmission lines.
According to the American Society of Civil Engineers the investment gap for distribution infrastructure is estimated to be $57 billion by 2020 – much larger than the $ 37 billion investment gap for transmission infrastructure.
An overburdened energy transmission system put public safety at risk and increase costs to consumers and businesses. The average cost of a one-hour power outage is just over $1,000 for a commercial business. Utilities often pass on charges to consumers as a result of congestion in the system.