Over the next five years, The State Grid Corporation of China (SGCC) is expected to invest over $400 billion on the smart grid construction, as reported by Zpryme.
Zpryme director of research, Jason S. Rodriguez, says, “With a population that dwarfs all global economies, the demand for smart meters could eclipse 300 million by 2015. In addition, with the Chinese government vying for inclusion from domestic players, companies outside of its borders will have to seek strategic partnerships to sink their teeth into the electricity demand pie; for example, just this week, Echelon announced a new partnership with Holley Metering of China.”
88% of power in China is provided by the SGCC, which covers an area populated by over a billion people. Among the key reasons that China is the largest, and most important market for Smart Grid development worldwide are the enormity of the state -owned transmission company, as well as streamlined regulatory processes designed to promote rapid construction without the obstacles typically found in developed countries.
Key findings from the CHINA: State Grid of China Profile report includes SGCC has set a target to have 300 million smart meters installed by 2015; to date 36 million smart meters have been installed; in 2011, SGCC had 286 million customers and renewable capacity of 40.0 GW; at the end of 2011, SGCC had 238 Smart Grid pilots, projects, and demonstrations in operation; and by 2015, SGCC plans to have an EV charging network across their entire service area.
Zpryme-powered Smart Grid Insight Practice assists companies entering the Chinese marketplace to understand the new environment. Visit www.zpryme.com for more information.