Brazilian smart grid investments are expected to hit $36.6 billion by 2022, according to the results of a new study performed by Northeast Group, LLC.
Brazilian utilities say they will use the investments in the new smart grid to eliminate electricity theft, improve the grid's reliability, provide customers with new pricing plans and spur economic growth.
"Brazil's rapidly growing economy is straining the existing electric infrastructure and smart grid investments will be critical to address the many challenges facing the sector," the report read. "Brazil, with the fifth largest population in the world, is eager to upgrade its infrastructure in the run-up to the 2014 World Cup and 2016 Summer Olympics when it will be on the world stage."
The number of smart grid deployments will be driven by advanced metering infrastructure installations, with an estimated 63 million intelligent meters expected to be deployed by 2021.
According to Greentech Media, Brazil's smart grid deployment rate is growing on a globally competitive scale, with its efforts to install distribution automation capabilities on par with China's work to deploy high-voltage transmission and meters in its cities.