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Seoul Leads Global Smart Cities Energy Ranking

Written by Mark Evans
08/01/2018

Juniper Research has found that smart grids linked to smart cities will result in savings of USD14Bn per annum in energy bills by 2022.

Smart meters, energy-saving policies and sensing technology to improve grid reliability and efficiency will mean that cities will now be on target to save more energy than previously predicted.

The study, Smart Cities: Strategies & Forecasts in Energy, Transport & Lighting 2017-2022, also ranks global cities to assess their performance and approach towards energy consumption and delivery as, in order:
• Seoul
• San Francisco
• New York
• Portland, OR
• Barcelona

"Seoul’s large-scale deployment of electric vehicle charging infrastructure, smart street lighting and smart meter rollouts will undoubtedly accelerate the development of smart grid infrastructure to manage these elements," remarked research author Steffen Sorrell.

Juniper found that the high cost of carbon capture and storage technology was making fossil fuel investment uneconomical. With the projected cost of renewable energy sources such as wind and solar falling close to USD60 per MWh (Megawatt hour) in 2022, it predicted the inevitable investment would force accelerated deployment of smart grid solutions to reliably scale renewable energy.

Furthermore, the research argued that the business case for distributed renewable generation would be strengthened by the application of blockchain, where efficiencies along the value chain could be achieved by simplifying a certification system currently susceptible to accounting errors and increased costs.