Smart Grid-Connected Cities See Higher GDP Growth
Cities that invest in smart-grid technology and infrastructure, called “connected cities,” experience an annual GDP growth rate that is 0.7 percent higher, an unemployment rate that is a full percentage point lower, and office occupancy rates 2.5 percent higher than less advanced cities, according to a study by Jones Lang LaSalle.
The financial services firm says this correlation between smart grid applications and cities’ economic performance underlines the strong relationships between public sector infrastructure custodians and power suppliers.
To evaluate the impact of smart grid investment on economic performance, the study compared a list of Smart Grid Cities from U.S. News & World Report with national averages for unemployment, GDP growth and office market occupancy (see chart).
The majority of cities’ urban landscape is buildings either owned or leased by private companies. To realize the full potential of smart grid technology, a new approach to building automation and integrated facilities management has emerged, where data is aggregated across an entire portfolio, Jones Lang LaSalle says.
Integrated facilities management systems that enable real-time energy use monitoring — such as JLL’s IntelliCommand platform — can help corporations better manage their use of the public grid, reduce energy costs and shrink carbon footprints, by optimizing the power drawn off the smart grid, according to the study. These systems make it possible to extend the benefits of the smart grid beyond the public infrastructure, and into privately held real estate, Jones Lang LaSalle says.
The worldwide market for smart grid data analytics will grow steadily through 2020, with cumulative worldwide spending from 2012 through 2020 totaling just over $34 billion, according to a September report from Pike Research.
- 9 Ways to Reduce Energy Costs
- 2013 Insider Knowledge
- Guide to Energy, Carbon and Environmental Software
- Environmental Leader Technology Reviews
- Q4 2013 Sustainability Trends - The Logistics, Carbon and Business Data Book
- 5 Must-Have Utility Billing Alerts
- How "Fixed" is the Fixed Price Product?
- EHS Managers: The Evolution from Necessary Evil to Vital Leaders
- Dow Chemical Company Optimizes Facility Management Worldwide
- Facilities & Maintenance Management Best Practices
- Smart Building Technology: The Key to Comprehensive Building Performance
- What Energy Managers Need to know about Procuring Natural Gas: Guidance for 2014 Natural Gas Contracts
- Energy Optimization from the Boiler Room to the Board Room
- Your Roadmap for Energy Management: First Stop – Myths & Realities of Energy Purchasing
- Control the Balance of Power: The Future of Intelligent Energy Systems