EU SmartGrids Framework "Electricity Networks of the future 2020 and beyond"

The IEA World Energy Investment Outlook 2003 states that the electricity sector in the EU has an annual turnover of about $150billion and contributes about 1.5% to EU GDP. Investment in the sector is about $30 billion per year in the EU. Looking ahead, EU Member States will need to invest in excess of one trillion dollars in power infrastructure over the next three decades, divided equally between generation and networks (some $120 billion will be invested in transmission and $413 billion in distribution networks). ICT will be among the Top investments. To remove the barriers and create outstanding opportunities for European Member States, the Strategic research Agenda will be the basis for the European SmartGrids Roadmap. The transition from the current grid to the future Smartgrids requires not only technology readiness but also intensive change management meeting the agenda of the key stakeholders. To conclude, no Energy innovation can happen without the combination of a Smart Vision (SmartGrids), Smart Technologies (e.g. Smart Meters), Smart Processes (e.g. SAP processes for Utilities), Smart roadmap and finally Smart Stakeholders.