China Set To Dominate Global Smart Grid Spending

Release Date: 21-Apr-2014

China is the world's largest consumer of electricity as electricity demand is rapidly increasing in the recent years and is further expected to double over the next decade and triple by 2035. But,Chinasees a specific imbalance in its energy supply. In 2013, more than 50% of China's electricity generation came from coal-fired power plants. Coal is the primary source of power generation, and 76 percent ofChina's coal resources are located inShanxi,Inner Mongolia,Shaanxi, Xingjian, and other northern and western regions. In contrast, the country’s energy consumption needs are mainly situated in the more industrialized economic zones in the eastern and southern regions.

Significantly the Chinese government is now investing heavily in renewable energy technologies and ultimately,Chinahopes to dominate the clean energy technology market. In 2010, China was ranked number one in the world for energy consumption and total investment in clean energy. The country is expected to continue along the same line and hold that ranking for at least the next five years. As of 2012, China derived 17%of its electricity from derived from renewable sources, and the country has a goal to increase renewable energy to 9.5 percent of overall consumption by 2015 and to meet 15 percent of energy demand from renewable energy by 2020.

Given the fact that China is a major solar and hydropower generating nation and that its installed wind power capacity is highest in the world, smart grid technology would help its network to integrate the thermal and renewable energy supplies. This would make for a safe, stable and efficient grid that could transmit renewable energy power. China’s focus on renewable energy makes smart grid development a top priority since the renewable energy that it generates cannot be utilized in large scale without smooth grid transmission that comes from using smart grids.


 “China Smart Grid Market Outlook 2018” Report Highlights: 


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