Landis+Gyr Applauds Smart Grid U.S. Stimulus Awards
Announced $3.4 Billion includes funding support for 18 million smart meters
that will empower consumers to cut energy bills, greenhouse emissions
NEW YORK, Oct. 27 /PRNewswire-USNewswire/ -- Landis+Gyr, the global leader in
energy management offering utilities next generation smart grid solutions,
today welcomed the announcement by President Barack Obama identifying the
first of the stimulus fund awards to create jobs and modernize the U.S.
electricity grid under the American Recovery and Reinvestment Act.
"This is once-in-a-generation opportunity for forward-looking utilities and
consumers across the country to make a quantum leap in the technology used in
electricity delivery and usage," said Richard Mora, CEO of Landis+Gyr North
America. "National demand for electricity is growing three times faster than
power resources are being added, making energy conservation and efficiency -the fifth fuel -- critical. The federal government is now taking a leading
role in the drive to build a smart and dynamic grid infrastructure exhibiting the same energy and vision as the Eisenhower Administration did in
building the national highway system in the 1950s."
The American Recovery and Reinvestment Act contains specific provisions for
the establishment of a grant program that will support the rollout of smart
grid and smart metering projects across the country. With the award details
outlined today, $3.4 billion will support 100 smart grid projects in 49 of the
50 states. The comprehensive nature of the funding spans grid needs from
transformers all the way to smart thermostats, and includes 18 million smart
meters and 1 million in-home information display devices. Smart metering
solutions provide utilities with a two-way flow of data required to manage
energy use, efficiency, demand response and network protection. Consumers
benefit from improved usage information, aided by in-home monitors, and with
it, the ability to reduce overall energy costs and carbon footprints.
"We believe that smart metering will revolutionize energy management and grid
reliability across the country, and applaud the leadership by the Department
of Energy in moving as quickly as possible with the award decisions, and in
particular identifying and funding 18 million smart meters that are the heart
of the modernization effort," Mora said.
The potential benefits are enormous. A recent Brattle Group study found that
just a five percent drop in peak demand nationally would eliminate the need
for installing and running some 625 infrequently used peaking power plants,
translating into annual savings of approximately $3 billion. The Department of
Energy recently estimated that if the U.S. grid were just five percent more
efficient, it would be the equivalent of eliminating the fuel and greenhouse
gas emissions of 53 million cars.
"Our country needs new approaches on big issues such as grid modernization. We
see helping people manage energy better as a much needed initiative during
these challenging economic times," Mora said. "Government support is an
important ingredient in the utility business' cases for smart metering
solutions."
With over 1,300 employees, Landis+Gyr North America ranks as one of the
leading providers of end-to-end smart meter solutions in the U.S., having
recently signed major contracts with a number of leading utilities, including
Texas based Oncor.
"As the worldwide leader in electricity metering," Mora said, "Landis+Gyr is
ideally placed to work with utility partners to roll out smart metering
projects. We look forward to playing a significant role in partnership with
utilities to revolutionize the country's energy management."
ABOUT LANDIS + GYR
Landis+Gyr is the leading provider of integrated energy management solutions
tailored to energy company needs. With a global presence and a reputation for
quality and innovation, Landis+Gyr is unique in its ability to deliver true
end-to-end advanced metering solutions. Today, the Company offers the
broadest portfolio of products and services in the electricity metering
industry, and is paving the way for the next generation of smart grid. With
annualized sales of more than US$1.25 billion, Landis+Gyr operates in more
than 30 countries across five continents, and employs over 5,000 people with
the sole mission of helping the world manage energy better. For more
information about Landis+Gyr Inc., please visit the corporate website at
www.landisgyr.com
For more information, in the U.S.:
Financial Community, please contact:
Stan March, Landis+Gyr, Senior Vice President, Corporate Communications
tel. 646-205-3119
Stan.March@landisgyr.com
Media, please contact:
Thor Valdmanis, FD
tel. 212-850-5696
thor.valdmanis@fd.com