ATLANTA--(BUSINESS WIRE)--Bob Gilligan, vice president, GE's Digital Energy business, issued this statement today about how the heat wave in the northeastern U.S. underscores the need for the country to invest in smart grid technologies:
"As record-breaking temperatures in the northeastern United States have consumers turning up their air conditioners, our overburdened electric grid is taking center stage," Gilligan said. "The heat wave is causing spikes in power demand, increasing the probability of service disruptions. This provides an example of the demand levels the grid can expect to see in the future as penetration of electric heating and cooling continue to expand, and as new demands like plug-in electric vehicles enter the market.
"Investing in smart grid technologies can enable utilities to better manage fluctuating consumer demand and keep the AC on without adding more generation and transmission capacity," Gilligan noted. "While some have expressed concern about the cost of smart grid investments, electric power outages and blackouts cost the nation about $80 billion annually. In addition, the cost of generating a kilowatt-hour of electricity is orders-of-magnitude greater than the cost of saving a kWh through adding intelligence to the grid and improving energy efficiency. If implemented the right way, smart grid technologies can not only help keep our air conditioners on, but can also help lessen our dependence on fossil fuels, lower CO2 emissions and empower consumers to make smarter energy choices---positively impacting our nation's energy stability."
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at www.ge.com.
GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2009 revenues of $37 billion, GE Energy www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy---GE Power & Water, GE Energy Services and GE Oil & Gas---work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
Britton Cronin
GE Energy
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