About the Challenge
GE’s Ecomagination Challenge is a $200 million call to action for businesses, entrepreneurs, innovators, and students to share their best ideas and come together to take on one of the world’s toughest challenges – building the next-generation power grid to meet the needs of the 21st century.
Power outages and power quality disruptions cost US businesses $100 billion per year or more. Smart grid technologies have the potential to improve grid connections and reduce power disturbances more than 75% by 2020, saving customers in excess of $50 billion from a reduction in outages.
GE is looking at improving grid efficiency by three means: reducing losses, reducing voltage and improving system reliability.
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