The coming electricity revolution will see conventional meters phased out in favor of "smart" meters to help create the smart grid. It should be a win-win for customers and the utilities -- but the utilities are getting greedy.
The conglomerate said Tuesday that it plans to invest more than $2 billion in China through 2012 in research and development, technology and financial services partnerships. The move marks GE's "confidence in China's long-term economic prospects."
Cisco is expanding its foray into the smart grid with plans to acquire Arch Rock. The San Francisco-based startup is developing wireless-networking equipment for the electrical grid.
EMeter, which makes software that monitors energy use, is the latest smart-grid tech startup to garner significant investment -- $12.5 million worth. With old electricity grids being replaced with smart ones, investors -- and tech giants like Google and Cisco -- are surging into the sector.
Global clean-tech venture investments rose 43% to $2 billion in the second quarter. Solar and biofuel startups garnered the biggest funding, while the IPO market for clean-tech was much hotter in China than the U.S.
When announcing his $3.8 trillion budget, Obama didn't mention the "smart grid," long key to his infrastructure spending plans. That's a shame, as improving our utility grid could create jobs as well as make us greener, more efficient and more competitive.
The emphasis in alternative energy used to be on new ways to generate power. Now, it's on finding better ways to conserve it and make the power grid more efficient. The so-called smart grid is key to that goal, and fortunes will be spent -- and made -- on making it a reality.
