Honeywell Forms Smart Grid Solutions Business To Address Growing Energy Demand

Honeywell announced the formation of Smart Grid Solutions, a global enterprise that centralizes the company’s existing smart grid resources and expertise to respond to the growing needs of both energy providers and users.

Part of Honeywell’s Building Solutions business unit, Smart Grid Solutions will bring innovative offerings to market faster, and deliver end-to-end programs that connect utilities and their customers to solve a variety of energy challenges, such as relieving stress and congestion on aging electrical infrastructure, leveraging intermittent renewable resources, and better managing the increased demand for energy, which is expected to grow 40 percent by 2035.

According to a recent report from Pike Research, revenue for demand response services in particular will grow from nearly $1.3 billion last year to $6.1 billion by 2016. The creation of Honeywell Smart Grid Solutions is a strategic reflection of the anticipated rise in worldwide energy consumption and the corresponding need for demand-side-management services.

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