Utilities Look to Proven Providers as Customer Empowerment Hype Creates Uncertainty Around Smart Grid Roadmap
Norcross, GA, March 30, 2010 – Utility customers are looking for proven and reliable demand management and smart grid technology as they face the uncertainty and confusion of the smart grid. Confusion persists around when the smart grid will start to produce measurable benefits while spending on enabling technologies has increased over the last 12 months, according to a survey of DistribuTECH attendees conducted by Comverge, Inc. (Nasdaq: COMV), a leading provider of smart grid, demand management and energy efficiency solutions. The results highlight the uncertainty created by the hype around areas such as customer empowerment products and the importance of proven, enterprise-class technologies and services to utilities that are seeking to invest in energy management programs.
Of the more than 100 utility representatives surveyed at DistribuTECH last week in Tampa, FL, there was little consensus on when benefits of the smart grid will begin to take shape. In fact, almost an equal amount believed that measureable benefits from the smart grid are 1-3 years out (27 percent) as those that stated it will take at least 10 years (29 percent) to become a reality. Looking at the budgets assigned to the energy management resources that will help realize the promise of the smart grid, 77 percent of respondents indicated that budgets had increased over the last year.
2009 was a year of incredible hype with start-ups and new entrants with grand expectations, but limited experience, muddying the waters,” said Blake Young, president and CEO, Comverge. “Yet if we heard one thing loud and clear from attendees at DistribuTECH, many of which included representatives from our utility customers, it was that questions persist around how to turn the promise of the smart grid into reality. With questions around the roadmap and which energy management technologies to implement, utilities are seeking established partners that can help them address immediate pain points while bridging to the promise of the smart grid.”
When asked about investment priorities for the next 12 months, smart meters (89 percent) and smart thermostats (48 percent) were listed as the most important energy management products. These technologies were selected over other energy management technologies such as in-home displays and smart outlets, indicating that utilities are focused on building the supporting infrastructure before investing in Home Area Network and customer empowerment technologies.
About Comverge
With over 3,300 megawatts of clean energy capacity under management, Comverge is a leading provider of comprehensive smart grid, demand management, and energy efficiency solutions that improve grid reliability and supply electric capacity by reducing base load and peak load energy consumption. For more information, visit www.comverge.com.
For Additional Information:
Media Relations
Kristin Mastrandrea
Communications Manager
Comverge, Inc.
908-947-6169
