Echelon sees more opportunities in Europe than in the US, its chief executive Ron Sege has told a conference in Amsterdam.
“In Europe, you have the political will, the 2020 mandates, France reaffirming its commitment to smart grids, and Germany moving along,” he said.
Sege said that a drive to better track household energy use, smooth demand surges and curb overall power usage has driven a surge in demand for smart grids, although economic concerns have made investors wary about utilities cutting back investment.
But Echelon will continue to do well because it focuses on power markets where demand exceeds supply and demand management is needed, he said.
The European Commission expects 200 million smart meters to be installed by 2020 in the EU, with an investment totalling €40bn ($53bn).
Outside Europe, Sege sees strong potential in China and Southeast Asia, Eastern Europe, South Africa and Latin American markets.
For more smart grid news click here