Where to look for smart grid leadership? Try China
Quick Take: It's always important to study smart grid pacesetters. These days, that means studying China. Especially since the smart grid market in the United States contracted a painful 33% in 2013, as you will read below. - Jesse Berst
Who's leading the world in smart grid? Consider the five points below before you give your answer:
1. China has zoomed past the United States to become the world's largest energy user, according to the International Energy Agency.
2. China spent US $4.3 billion on smart grid investments in 2013 as the U.S. market contracted 33% to $3.6 billion, according to new figures from Bloomberg New Energy Finance (BNEF). It is the first time that China has topped North American spending in smart grid investment.
3. According to China Daily, China’s state-owned State Grid Corp. plans to invest $586 million constructing smart grids that incorporate wind and solar energy, energy storage, energy transmission monitoring, intelligent substations and smart meters.
4. Over the next 10 years, China is expected to spend more than $100 billion upgrading its power distribution system, as Forbes Magazine recently documented in "China's Smart Grid Boom."