General Electric (GE), along with Silver Spring Networks, Florida Power & Light (FPL) and Cisco (CSCO) are going to deploy smart grid technologies in Miami, Florida.
Miami would like to spend $200 million of federal stimulus funds on smart grid and renewable energy technology over the next two years.
Florida Power and Light will lead the strategy and deployment of the new technology. GE will provide smart meters and appliances for the Miami project. Silver Sping will provide wireless communications, and Cisco will provide networking technology.
The smart grid “is a $3, $4, $5 billion, multiple billion opportunity for GE,” if it’s implemented in the top 50-100 U.S. cities, said Jeff Immelt on CNBC this morning, where he was joined by John Chambers. Florida Power and Light is expected to scale the project out across Florida after Miami, which they project will cost $500 million.
During last week’s earnings call, Immelt teased this announcement, and said that for a city with over 1 million people, there is a $500 million revenue opportunity. According to the census bureau, Miami-Dade County has 2.4 million people in it.
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