- Category: Smart Grid
28 Mar 2012
- Published on Wednesday, 28 March 2012 19:56
- Hits (2285)
The State Grid Corporation of China, the world's largest electric power transmission and distribution company serving an area with over 1 billion inhabitants, is expected to invest $473.1 billion in power grid construction over five years, about $100 billion of which will be directed toward smart grid technology. This investment will make China the world's largest smart grid market, according to a company profile published by Zpryme Research and Consulting. Zpryme reports that it will have an "enormous" influence not only in the development of smart grid infrastructure, design and management in China, but also throughout the world. "This is partly because China aspires to emerge as the global leader, not only across the entire electric vehicle value chain, but in Smart Grid development and implementation overall," as mentioned in the profile. China is reportedly planning to install over 300 million smart meters by the end of 2015, from having only 36 million in 2011. State Grid's sales have increased by an average of 12.6 percent a year from 2006 to 2011, with electricity sales growing from 1,710 terawatt-hours to 3,093 TWh within the period. Also in 2015, the report indicates that installed clean energy power generation in China will reach 32 percent, and will lead the world in hydro and other renewable energy generation, accounting for 24 percent of world capacity by 2035.