March 29, 2012 — The State Grid Corporation of China is expected to invest $473.1 billion in power grid construction over five years, about $100 billion of which will be directed toward smart grid technology.
China is reportedly planning to install over 300 million smart meters by the end of 2015, from having only 36 million in 2011.
State Grid’s sales have increased by an average of 12.6 percent a year from 2006 to 2011, with electricity sales growing from 1,710 terawatt-hours to 3,093 TWh within the period.
Zpryme reports that it will have an enormous influence not only in the development of smart grid infrastructure, design and management in China, but also throughout the world.
Also in 2015, the report indicates that installed clean energy power generation in China will reach 32 percent, and will lead the world in hydropower and other renewable energy generation, accounting for 24 percent of world capacity by 2035.