The Climate Group China has issued a policy briefing providing background and reviews on China’s skyrocketing smart grid industry. The policy, Smart Grid Developments in China’s Current Situation and Prospects, also offers suggestions on the acceleration of clean technologies in China.
Smart grid business is helping lead the low carbon economy in China, according to reports. Pike Research recently reported data showing global smart meter installations will hit 1 billion by 2020, thanks in part, by China’s large-scale adoption of the devices. More emphasis has been put on smart grids as China moves away from traditional grid technology.
Further, the report reviews the invention and functionality of future smart grid development. Specifically, the report focuses on areas of centralized activity access to renewable energy, electric vehicle to grid, user side management and China’s relevant policies and standards. Ultimately, the report calls for Chinese government policy makers and corporations to focus on the market liberalization of the entire value chain of smart grid industry to create a clean energy revolution in China.
China’s five year plan is expected to include $150 billion in public and private funds to prompt the construction of smart grid infrastructure by 2020. Along with planning and pilot projects, the funding would also be used for full scale construction of smart grid operation control, service systems and core technology development.