Energy consumption in China is expected to more than double within a decade. Chinese government leaders understand that smart grid technology is necessary if China is to maintain its explosive growth and growing energy requirements. For these reasons Asia’s fastest growing economy will continue to make significant smart grid investments for the foreseeable future.Countries around the world seek to advance the capabilities of their energy infrastructure. World governments have taken the lead by providing financial capital needed to make the transformation from a conventional power system to the modern smart grid of the future.
Smart grid technology will help countries transform how they consume energy. No longer will energy consumers be completely dependent on fossil fuels and foreign oil. A fully functioning smart grid allows for renewable energy sources to be integrated. As more and more countries adopt these advanced technologies, carbon emissions can be drastically reduced.
In 2010, the Chinese government will lead the way with investments in smart grid technology of more than $7.3 billion. The United States is a close second with smart grid grants from the Department of Energy (DOE) close to $7.1 billion.
“China’s investment in smart grids and related technologies already exceeds investment in power generation,” said Mark Ishac, Managing Director of research and consulting firm Zpryme. “In order to capitalize on China’s breakneck 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.”
A 2009 Bloomberg report estimated that China needs to spend up to $10 billion a year through 2020 if the country is going to reach its goal of implementing a national smart grid. China’s commitment to reaching this goal has also attracted the attention of businesses based in other countries.
GE, for one, recently announced plans to build a demonstration center for smart grid technology in Yangzhou. Other major players including ABB, Accenture, Cisco, Hewlett-Packard, Oracle, and Westinghouse have also staked generous claims in China’s developing smart grid market.
IBM recently announced that it expects annual revenues from Chinese smart grid development to top $400 million for the next four years. IBM is the only corporation that is providing a full portfolio of smart grid infrastructure including hardware, software, and consulting services.
As the economic climate continues to improve in China this year and the initiative grows stronger to deploy a smart grid it is certain that more and more companies will look for ways to make strategic alliances there.
Zpryme Research & Consulting, LLC
One Congress Plaza
111 Congress Avenue
4th Floor
Austin, Texas 78701
http://zpryme.com
General Electric
3135 Easton Turnpike
Fairfield, CT 06828
http://www.ge.com
ABB
Affolternstrasse 44
P.O. Box 8131
CH-8050 Zurich
Switzerland
http://www.abb.com
Accenture
Canon's Court 22 Victoria Street
Hamilton, HM 12
Bermuda
http://www.accenture.com
Cisco Systems, Inc.
170 West Tasman Dr.
San Jose, CA 95134
http://www.cisco.com
Hewlett-Packard
3000 Hanover Street
Palo Alto, CA 94304
http://www.hp.com
Oracle
500 Oracle Parkway
Redwood Shores, CA 94065
http://www.oracle.com
Westinghouse
4350 Northern Pike
Monroeville, PA 15146-2886
http://www.westinghousenuclear.com
IBM
One New Orchard Road
Armonk, NY 10504
http://www.ibm.com
In 2010, the Chinese government will lead the way with investments in smart grid technology of more than $7.3 billion. The United States is a close second with smart grid grants from the Department of Energy (DOE) close to $7.1 billion.
“China’s investment in smart grids and related technologies already exceeds investment in power generation,” said Mark Ishac, Managing Director of research and consulting firm Zpryme. “In order to capitalize on China’s breakneck 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.”
A 2009 Bloomberg report estimated that China needs to spend up to $10 billion a year through 2020 if the country is going to reach its goal of implementing a national smart grid. China’s commitment to reaching this goal has also attracted the attention of businesses based in other countries.
GE, for one, recently announced plans to build a demonstration center for smart grid technology in Yangzhou. Other major players including ABB, Accenture, Cisco, Hewlett-Packard, Oracle, and Westinghouse have also staked generous claims in China’s developing smart grid market.
IBM recently announced that it expects annual revenues from Chinese smart grid development to top $400 million for the next four years. IBM is the only corporation that is providing a full portfolio of smart grid infrastructure including hardware, software, and consulting services.
As the economic climate continues to improve in China this year and the initiative grows stronger to deploy a smart grid it is certain that more and more companies will look for ways to make strategic alliances there.
Zpryme Research & Consulting, LLC
One Congress Plaza
111 Congress Avenue
4th Floor
Austin, Texas 78701
http://zpryme.com
General Electric
3135 Easton Turnpike
Fairfield, CT 06828
http://www.ge.com
ABB
Affolternstrasse 44
P.O. Box 8131
CH-8050 Zurich
Switzerland
http://www.abb.com
Accenture
Canon's Court 22 Victoria Street
Hamilton, HM 12
Bermuda
http://www.accenture.com
Cisco Systems, Inc.
170 West Tasman Dr.
San Jose, CA 95134
http://www.cisco.com
Hewlett-Packard
3000 Hanover Street
Palo Alto, CA 94304
http://www.hp.com
Oracle
500 Oracle Parkway
Redwood Shores, CA 94065
http://www.oracle.com
Westinghouse
4350 Northern Pike
Monroeville, PA 15146-2886
http://www.westinghousenuclear.com
IBM
One New Orchard Road
Armonk, NY 10504
http://www.ibm.com
