Jan. 24 (Bloomberg) — Investments in smart-grid
technologies that boost efficiency and curb energy waste rose 7
percent last year to $13.9 billion, driven by spending in China,
according to Bloomberg New Energy Finance.
China raised investments by 14 percent to $3.2 billion,
largely because of a smart-metering program, according to the
London-based research company. It forecasts Chinese spending on
smart grids will outstrip the U.S. this year, where it fell 16
percent to $4.3 billion.
Investments in the so-called energy-smart technologies may
reach $25.2 billion by 2018, BNEF said. Those include meters
that enable customers to monitor their energy use and provide
immediate feedback to utilities. Companies use the data to set
variable pricing and smooth fluctuations in demand, ultimately
saving the cost of running more generators.
“Asia and Europe will be responsible for the greatest
spending increases between 2013 and 2018,” said Albert Cheung,
head of analysis for energy-smart technologies at BNEF.
“Utilities, policy makers and regulators are increasingly aware
of the economic, environmental and reliability benefits of smart
grid technologies.”
Companies developing smart meters include Britain’s Smart
Metering Systems Plc which is part-held by BlackRock Inc. and
Investec Asset Management Ltd., and Germany’s Power Plus
Communications AG, backed by Siemens AG, a unit of Centrica Plc
and Climate Change Capital Ltd. In the U.S. Itron Inc. and Cisco
Systems Inc. are providing equipment to a smart-meter program
in Massachusetts that’s being administered by National Grid Plc.
General Electric Co., Elster Group SE and Toshiba Corp.‘s
Landis+Gyr also manufacture energy smart technologies.
Investments in Asia reached $5.6 billion as countries
including Japan, India, Korea and other southeast Asian nations
started using the technology.
Spending in Europe reached $1.4 billion and may accelerate
after 2014 as countries including Britain and France begin major
installations programs, the statement said. The U.K. government
expects to install 53 million smart meters in homes and
businesses across the country by 2019.
To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net
