Smart-grid spending to hit $200 billion by 2015

Governments and utilities are expected to ramp up their investments in the electrical smart grid, spending a total of $200 billion worldwide from 2008 through 2015, says a new Pike Research report. The term "smart grid" is shorthand for a number of technologies intended to automate and digitize management of electrical power. By computerizing the 20th century electrical system, utilities and others in the power industry hope to manage and control electrical output more efficiently and reliably. Though smart grid sounds like it's a single system, it's more an array of different tools and technologies, from smart meters to solar power, all designed to reduce costs, waste less energy, and provide better networking and communications between homes and utilities. (12/28)