Smart Grid: China Leads Top Ten Countries in Smart Grid Federal Stimulus Investments, Zpryme ReportsPosted by: Zpryme in News Room
New York, NY - (Going Green) – 01/27/10 – The Chinese government has been increasing investment into smart grid technology to prepare for national energy needs that are expected to double in ten years. Zpryme released a snapshot report (excerpted from a study) that identifies the top ten countries by smart grid federal stimulus investment for 2010, as well as an insider’s look into China, the players, and what’s next for Asia’s fastest growing economy.
The overarching mission of countries around the globe is to ensure and advance the national, economic, and energy security of their nation.
Top Ten Smart Grid Federal Stimulus Investments by Country, 2010 (in U.S. Millions)
- China: $7,323
- US: $7,092
- Japan: $849
- South Korea: $824
- Spain: $807
- Germany: $397
- Australia: $360
- UK: $290
- France: $265
- Brazil: $204
The smart grid is an essential component to reinforce this progress along with each nation’s plan to change their energy habits and reduce dependence on fossil fuels, especially foreign oil. In light of these ‘calls-for-action’, China is set to inject a sizable $7.3 billion (USD) federal investment toward the smart grid and related technologies for 2010 with the U.S. relatively close behind with $7.1 billion (USD) in D.O.E grants. According to a Bloomberg report (May, 2009), it’s estimated that China will need to spend as much as $10 billion (USD) a year through 2020 to build a modern grid.
Further, China’s smart grid stimulus spending is not going unnoticed as their advancements in these ever-evolving technologies have garnered the attention of many ‘forward-thinking’ companies.
Just recently, GE aligned itself with Yangzhou, China to construct a smart grid demonstration center. Similar steps forward are being echoed from industry-leading players such as Cisco, Accenture, Hewlett-Packard, ABB, Westinghouse, and Oracle -- which are buying into a generous stake of China's smart grid market. What’s more, Business Week recently reported that IBM expects at least $400 million in smart-grid revenues in China over the next four years. Fitting testimony as IBM remains the only corporation that provides hardware, software and consulting for smart grid infrastructure projects in China.
“China's investment in smart grids and related technologies already exceed investment in power generation. In order to capitalize on China’s break-neck growth, it’s imperative that recognized corporations and start-ups understand its ‘master plan’ to establish a nationwide smart grid in Asia’s fastest growing economy – both at a consumer and business level.”
-Mark Ishac, Zpryme Managing Director (Going Green Practice)
As overall Chinese economic and consumer outlook improves and the pressure to join the smart grid movement intensifies one certainty is clear, look for a stronghold of companies to make strategic business alliances with China in 2010.
Where Can I Get This Study?
To learn more please email us at firstname.lastname@example.org, subject line, ‘Smart Grid Stimulus and China’ or contact us at +1 888.ZPRYME.1.
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