Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/news/2013-01-24/smart-grid-spending-rost-to-13-dot-9-billion-driven-by-china

Bloomberg News

Smart Grid Spending Rost to $13.9 Billion Driven by China

January 24, 2013

Investments in smart-grid technologies that boost efficiency and curb energy waste rose 7 percent last year to $13.9 billion, driven by spending in China, according to Bloomberg New Energy Finance.

China raised investments by 14 percent to $3.2 billion, largely because of a smart-metering program, according to the London-based research company. It forecasts Chinese spending on smart grids will outstrip the U.S. this year, where it fell 16 percent to $4.3 billion.

Investments in the so-called energy-smart technologies may reach $25.2 billion by 2018, BNEF said. Those include meters that enable customers to monitor their energy use and provide immediate feedback to utilities. Companies use the data to set variable pricing and smooth fluctuations in demand, ultimately saving the cost of running more generators.

“Asia and Europe will be responsible for the greatest spending increases between 2013 and 2018,” said Albert Cheung, head of analysis for energy-smart technologies at BNEF. “Utilities, policy makers and regulators are increasingly aware of the economic, environmental and reliability benefits of smart grid technologies.”

Companies developing smart meters include Britain's Smart Metering Systems Plc (SMS) which is part-held by BlackRock Inc. (BLK:US) and Investec Asset Management Ltd., and Germany's Power Plus Communications AG, backed by Siemens AG (SIE), a unit of Centrica Plc and Climate Change Capital Ltd. In the U.S. Itron Inc. (ITRI:US) and Cisco Systems Inc. (CSCO:US) are providing equipment to a smart-meter program in Massachusetts that's being administered by National Grid Plc. (NG/)

General Electric Co. (GE:US), Elster Group SE (ELTTY:US) and Toshiba Corp. (6502)'s Landis+Gyr also manufacture energy smart technologies.

Investments in Asia reached $5.6 billion as countries including Japan, India, Korea and other southeast Asian nations started using the technology.

Spending in Europe reached $1.4 billion and may accelerate after 2014 as countries including Britain and France begin major installations programs, the statement said. The U.K. government expects to install 53 million smart meters in homes and businesses across the country by 2019.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus