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The current world market for Smart Grid software and data management applications is $1.4 billion in 2010, and it will grow to $2.9 billion in 2015 with a compound annual growth rate (CAGR) of 15.6%, according to The Smart Grid Utility Data Market by market research publisher SBI Energy.

A significant portion of this growth is going to occur in 2011 and 2012, as more American Recovery and Reinvestment Act of 2009 (ARRA) funded projects in the U.S. are finally given approval.

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U.S. Energy Secretary Steven Chu announced that Colorado is receiving more than $34 million in funding from the American Recovery and Reinvestment Act to support energy efficiency and renewable energy projects in the state.\n\nUnder DOE's Energy Efficiency and Conservation Block Grant (EECBG) program, Colorado will receive $9.5 million to implement energy efficiency and conservation activities. The state will also receive $24.6 million in additional funding under the State Energy Program for a range of state-level energy efficiency and renewable energy programs. These Recovery Act projects will lower energy use, reduce carbon pollution, and create green jobs across the Centennial State.

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U.S. Department of Energy Secretary Steven Chu recently announced more than $54M in funding from the American Recovery and Reinvestment Act to support energy efficiency and renewable energy projects in Nevada, Rhode Island, Vermont, and Wisconsin. Under DOE's State Energy Program, states and territories have proposed statewide plans that prioritize energy savings, create or retain jobs, increase the use of renewable energy, and reduce greenhouse gas emissions.

"This funding will provide an important boost for state economies, help to put Americans back to work, and move us toward energy independence," said Secretary Chu. "It reflects our commitment to support innovative state and local strategies to promote energy efficiency and renewable energy while insisting that taxpayer dollars be spent responsibly."

These states and territories are receiving 40 percent of their total State Energy Program (SEP) funding authorized under the Recovery Act today. They will now have received 50 percent of their total Recovery Act SEP funding. The initial 10 percent of total funding was previously available to states to support planning activities; the remaining 50 percent of funds will be released once they meet reporting, oversight, and accountability milestones required by the Recovery Act.

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The Bonneville Power Administration has issued its second request for potential partners for smart grid projects that could qualify for federal stimulus money.

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IBM , announced today it is adding a significant financing component to its already extensive efforts towards the development of smart, industry-leading technology solutions tied to the American Recovery and Reinvestment Act (ARRA). I

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