Smart grid spend to be concentrated in 10 countries
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As 2011 came to an end, the Innovation Observatory released a report indicating that 80 percent of the worldwide investment in building electricity smart grids by 2030 will be concentrated in 10 countries.
Over the next five years, the United States will dominate global capital expenditure, culminating by 2030 in a spend of US$60 billion on intelligent smart grid infrastructure. Ultimately, according to the report, the top spending market will be China, where annual smart grid CAPX will overtake the U.S. around 2016. China's overall spend on smart grid development is expected to reach US$99 billion by 2030.
Emerging market forces include India and Brazil, ranking third and sixth, respectively. (Brazil expects to roll out 63 million smart meters by 2021, and India has plans for 130 million smart meters.) France, Germany, Spain and the United Kingdom are ranked by the report as the leading European countries in terms of investment in smart grid infrastructure, and Japan and South Korea complete the Innovation Observatory's Top 10.
Competition to win contracts with utilities in these markets will be fierce, says the Innovation Observatory, as the scale of the investment is creating a huge appetite to supply.