THE SMART GRID IN ASIA

New Business Opportunities in Asian Smart Grids
July 20 2010 NanoMarkets

"The development and expenditures on Smart Grid-related projects in Asia are already impressive. Nonetheless, even after massive power sector reforms, China, India and other Asian nations still face shortages in electric power…[World] electricity generation is projected to increase by 77 percent from 2006 to 2030. But the Asian countries will increase generation by 200% over that period. So the need for grid improvements is increasing.

"China has embarked on a 10-year project to build a "Smart Grid" that will catapult its power transmission into the digital age, securing electricity supplies and boosting energy conservation. The Government of India…[is] strengthening & upgrading…the Indian transmission and distribution network…[with] an investment of US $ 10 billion over a five year span. The Japanese trade ministry has estimated the shift to renewable power will require a grid upgrade at a cost of between US$ 51 Billion and US$74 Billion by 2030. Korea aims to create a nationwide Smart Grid by 2030 for an electricity market worth US$ 60 Billion."

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"Within Asia, the demand for Smart Grid capability is quite diverse in nature ranging from reflecting the sophisticated nature of electricity demand in developed nations such as Japan and South Korea, to the need for first deployment of grids and massive grid upgrades in the developing economies of India and China. [But the] general consensus [is] that existing electricity grids in Asia are not sufficient…"

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"…[B]ecause of growing environmental concerns, Asian grids needs to become far more flexible than they are today, accommodating distributed power generation from renewable sources and use several energy-efficiency techniques.

"…NanoMarkets/Smart Grid Analysis believes that Asia, offers huge potential for suppliers of Smart Grids technology, systems and software…[T]he key drivers for Smart Grids…[are] environmental concerns, enhanced grid reliability and security, need to integrate renewable energy…[and the] need to upgrade existing facilities to meet demographic changes…"