The Chinese government will be sinking $7.3 billion into the creation of a cleaner, more energy efficient Smart Grid in 2010, actually beating out the U.S.’s investment in the same area by more than $200 million, and rising to the top of the global list of Smart Grid leaders.
The news indicates how Asia’s largest country is getting serious about distributed energy generation, renewable sources like solar and wind, and transmission inefficiencies — all of which a more developed Smart Grid would tie together. It has become such a priority there, that China is actually spending more on grid improvements than it will on power generation projects. This is a major turnabout for the nation, which has been growing its energy infrastructure as fast as it can to promote economic growth.
Still, the sum committed to building a smarter grid may not be enough. Last year, Bloomberg released a report recommending that the country invest $10 billion a year at least for the next decade in order to successfully deploy smart meters, demand response programs, and home energy management systems.
To read the full, original article click on this link: China beats U.S. in gov. Smart Grid funding with $7.3B | VentureBeat
Author: Camille Ricketts
