Experts See a Larger Market Space for Smart Grids
May 9, 2011 No CommentsScholars of the Chinese Academy of Sciences and the Chinese Academy of Engineering said that the smart grid adoption will stimulate new technology and business models, and bring an industrial revolution. Meanwhile the new market space will be 30 to 50 times larger than the Internet, and it will take about fifty years to equip the whole country with the smart grid.
Yu Yixin, a student of the Chinese Academy of Engineering said that the smart grid is upgrading the current power grid and making it more massively distributed and consumer-interactive. He predicted that the smart grid will create a market space that will cover new energy, software, energy storage, telecommunications, electric vehicles, advanced sensors, etc.
Zhou Xiaoxin, student of the Chinese Academy of Sciences said that it might take China fifty years to transform the power grid from second generation technology to third generation. The third generation (smart grid) technology will be characterized by the large scale utilization and intelligence of renewable energy.
By Victor Wu
Source: Sina Finance
Related Posts:
¥460 million for Smart Grid Development
Image Credit: Business and Technology Report
Power Grid