A new report by energy market research firm ResearchandMarkets predicts China to be the world’s largest investor in smart grid technologies within the next decade.However, the research firm states that although the East Asian country will invest more in smart grid infrastructure than any other country, its smart grid market will still follow second to the US market.
The Chinese market will be dominated by local vendors and has limited opportunities for international firms.
Only one third of the Chinese smart grid market will provide opportunities for international vendors through to 2026.
Opportunities for external vendors will be in provision of technologies to lower transmission and distribution (T&D) losses.
[quote] Because China is struggling with its low per capita electricity consumption, the country is in need of external solutions to address the challenge, creating opportunities for participation of international vendors in its smart grid market.
The loan and guarantee agreements were approved by the Bank’s Board of Directors.
The agreements form part of the Multi-Tranche Financing Facility Power Distribution Enhancement Investment Program in Azerbaijan worth $750 million, which will impact 1.4 million power consumers in the country.
Smart grid solutions in South Asia
In a separate report ResearchandMarkets predicts that 79% of electric consumers in countries in South Asia will be equipped with either smart meters or prepaid meters by 2026.
The development will be a result of plans currently being set by utilities in the region to improve their billing system and lower transmission and distribution losses.
The region is estimated to be with the highest T&D losses in the world. [US analytics firm targets Asia Pacific utility market].
Although ResearchandMarkets is predicting the region to witness an increase in its smart grid solutions market due to growth in economy, the smart grid segment is likely to be hindered by utilities lack of financial resources to fund their plans.
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