Development smart grids Spain - Futured

Development smart grids Spain. FutuRed - BCGFigure 8: Renewable energy development objectivesSource: Each country’s Ministry of Energy, The Boston Consulting GroupApart from developing renewable energies and reducing CO 2emissions, it is necessary to modernizethe power grid and resolve the quality problems associated in order to deploy smart gridsin the short term.A high percentage of developed countries’ power grid was installed in the 50s-60s. Given thatgrid components’ average lifecycle is around 50 years, there will be a strong need to modernizethe grid during this decade.Quality issues are especially serious in the United States, where the Department of Energy(DOE) estimates that down times cost the American economy around $120,000M. In fact, ofthe five major outages occurred in the last 40 years, three have taken place in the last decade.Developing countries suffer multiple supply interruptions and for them it is a priority to developthe power grid. Even in those countries with the highest reliability levels worldwide like Germany,with an average of 15 minutes down time per customer and year, there is room forimprovement.30