[Global smart grid investment to double by 2018]
Global smart grid investment grew 7% in 2012 to US$13.9 billion, according to figures from Bloomberg New Energy Finance.
In terms of geographic spread, the sector mirrors photovoltaics with the U.S. clinging to top spot but due to be replaced by China in 2013, in large part thanks to a willingness to invest in smart grid technology by the Chinese government.
Some $4.3bn was invested in smart grid technology in the U.S. – down from $5.1bn in 2011 – and a big smart metering procurement program from the Chinese national State Grid company was the main driver behind $3.2bn of investment in the People's Republic, up from $2.8bn in 2011.
With nations such as Japan, India, Korea and South East Asian countries added, Asia invested a total $5.6bn, significantly more than Europe ($1.4bn, up from $1.1bn) and Latin America ($400m). Regulatory progress has been made in Brazil and major deployments in the U.K. and France in 2014 are expected to drive an improvement next year despite mixed take-up of the EU smart metering directive......
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Global smart grid investment grew 7% in 2012 to US$13.9 billion, according to figures from Bloomberg New Energy Finance.
In terms of geographic spread, the sector mirrors photovoltaics with the U.S. clinging to top spot but due to be replaced by China in 2013, in large part thanks to a willingness to invest in smart grid technology by the Chinese government.
Some $4.3bn was invested in smart grid technology in the U.S. – down from $5.1bn in 2011 – and a big smart metering procurement program from the Chinese national State Grid company was the main driver behind $3.2bn of investment in the People's Republic, up from $2.8bn in 2011.
With nations such as Japan, India, Korea and South East Asian countries added, Asia invested a total $5.6bn, significantly more than Europe ($1.4bn, up from $1.1bn) and Latin America ($400m). Regulatory progress has been made in Brazil and major deployments in the U.K. and France in 2014 are expected to drive an improvement next year despite mixed take-up of the EU smart metering directive......
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