China Barely Tops U.S. in Smart Grid Stimulus Spending
The U.S. is expected to put more stimulus money into the smart grid than any other nation, except for China, which is slated to spend about $7.3 billion in 2010.
Investments by the two dwarf other global efforts.
No. 3 on the list is Japan at just $849 million, followed by South Korea ($824 million) and Spain ($807 million). See the top 1o list in the above image.
China’s hefty investments come out of real need. Citing information from Bloomberg, the report notes that China will need to spend up to $10 billion a year through 2020 to build a modern electrical grid.
GE is helping build a smart grid demonstration center in Yangzhou, China.
And IBM expects at least $400 million in smart grid revenues in China over the coming four years, according to the report.
Below is a look at China’s power sector investments.
Energy Manager News
- Energy Storage: It’s About the Software
- MIT Develops Promising New Battery Storage Technology
- India Launches Net-Zero Building Portal
- Companies Cooperating on Waste-to-Energy Projects
- Clean Energy Commitment in the Corporate and Local Small Business Sphere
- Xcel Asks for $90M ‘Switching Fee’ If Lubbock Utility Joins ERCOT
- EDF Sending 127 Climate Corps Fellows to 100 Organizations
- Capegemini, Siemens Working on Analytics Platform