The UK should tap into the leading smart grid technology or risk losing out on a £5 billion export market, according to a recent report.

An industry group is urging the Government to not waste the smart grid opportunity which could offer up to 10,000 jobs. The commissioned report by SmartGrid GB claims that the economic benefit of tapping into the market of intelligent energy networks and infrastructure outweigh any risks; and it a plethora of industries can benefit from the move.

Further findings reveal that smart grids are necessary to cope with the large numbers of electric vehicles, renewable electricity production as well as helping businesses and homeowners to reduce their energy use and emissions and therefore their carbon footprint.

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But the experts warn that foreign counterparts like South Korea, China and the US could lead the development of the technology unless the UK takes action to be a serious competitor.

The UK government has pledged to deploy smart meters in every commercial property and domestic home by 2019 but industry insiders claim that the progress on smart grids and appliances is moving too slow which will hinder businesses realising the full benefits of the technology.

As one of the largest electrical wholesalers in the UK, Electric Point prides itself on understanding the latest news and advances in the sector. The specialists provide a vast range of products including cable management, heating, commercial lighting, home electrics and wiring accessories.

With unbeatable service and value for money items, they are the leading choice for any contractor and industry buyer. And they offer timers and heating programmers to help people be more environmentally-friendly.