China Leads Smart Grid Market Through 2021, to Reach $1.43 Trillion
Supported by a long-term stimulus plan, China is pursuing more Smart Grid development than any other country in the world.
According to “SBI Bulletin: Smart Grid Components Markets: 2011-2021,” China will post the fastest compound annual growth rate (CAGR) of 6% through 2021, overtaking the U.S., which will post a 4% CAGR through the same period.
As the utility that serves 88% of the country, the State Grid Corporation of China (SGCC) is chiefly responsible for the deployment of Smart Grids technologies; in March 2011, it announced eleven types of Smart Grid pilot programs, which included sixty-seven smart substations, nineteen distribution automation systems and 50 million smart meters. SGCC also plans to invest $250 billion in upgrades through 2016, $45 billion earmarked for Smart Grid technologies, and an additional investment from 2016-2020.
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