Do you know that India is one among the top 10 Smart Grid Investment countries? A recent research report published by Innovation Observatory reveals that utilities worldwide will spend US$378 billion on Smart Grid technologies by 2030. However, the lion share (almost 80%) of the total investment will be taken by only 10 countries. The United States will be leading the Smart Grid investment for the next five years. By 2030, it will spend US$66 billion for intelligent smart grid infrastructure. Apart from smart meters, the investment will be geared towards grid automation, communication infrastructure, IT systems and hardware, home area network, and system integration. China, which will take over the US as the leading Smart Grid market by 2016, will supposedly spend US$99 billion by 2030, which includes the roll-out of 360 million Smart Meters.
What is the India’s position among the top 10 Smart Grid Investment countries?
The two emerging nations India and Brazil also have massive smart grid investment plans and are among the top 10 list. India, which will be third largest smart grid investment market, is set to install 130 million Smart Meters by 2021. At present, the market in India is nascent with only few smart meters rolled out. But it seems gather the pace from 2012 onwards. During the same time period, Brazil, which will be the sixth largest smart gird market, is set to replace 63 million smart meters.
The other members of the top 10 include leading European countries the UK, Germany, France, and Spain and Japan and South Korea from the Asia Pacific region.
The competition to win the contracts will be fierce among the technology suppliers to tap the massive market opportunity. Companies will have to tailor their strategy based on the scale of the project, the region of the market, their expertise, and smart grid value chain they operate in.
Top 10 List
8 ) The UK
10) South Korea