The Chinese government will invest more money in the development of smart grid technology than the United States in 2010,according to a new market study. China will spend more than $7.3billion in the form of stimulus loans, grants and tax incentives thisyear, compared to $7.1 million by the U.S., according to an analysis byZpryme, a Texas-based research firm. “They’ve got a strong economy topush forward,” said Jason Rodriguez, director of research at Zpryme.China’s emphasis on creating a cleaner and more efficient electricitygrid has attracted the attention of major U.S. companies, includingGeneral Electric, IBM, and Hewlett Packard, who will push to capitalizeon that investment. Last month, G.E. announced a partnership with thecity of Yangzhou to develop a smart grid demonstration center topromote its technology in the Chinese market. According to theanalysis, smaller nations like France and Great Britain will spend lessmoney on smart grid projects, but are nonetheless “already moreadvanced in smart grid infrastructure than the U.S.”
You may also like
18 MayYale Environment 360
Apple Inc. has received approval to build two solar power installations at its main data ...
25 AprYale Environment 360
The U.S.’s continued reliance on coal and natural gas to generate electricity makes efficient gasoline-powered ...