Smart grids in the European energy sector

The Smart Grid is crucial for a successful transition to a new energy era in which a high percentage of energy will be provided by renewable energy sources. Many of the necessary ICT technologies are already available and the advances of in-memory computing will enable all actors to process and leverage the massive amount of data delivered by the Smart Grid. The development of the Smart Grid is however slowed down by uncertainties in the regulatory framework and missing standards as well as security and privacy issues. To overcome these challenges, incentives for Smart Grid investment, demonstrations of the benefits and a framework for a truly functioning market are needed.