While utility companies may see lower profits after establishing a global smart grid that uses and manages power more efficiently, other companies responsible for applications, devices, data, and building the new infrastructure stand to reap significant financial rewards. Cisco is one of those companies poised to be major player in smart energy.

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“The grid itself is about real-time management that delivers energy when it’s cheapest or most available from a certain areas,” explains Smith. “If you look at utilities companies, they are built in a very traditional model [that] looks like what networks used to be. In the early days, most networks started in the middle. Utilities are the same — they are built on power generation. It’s shared down through a hierarchy through a plug in the wall. Clearly the girds today are not set up to deal with the challenges of today.”

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