In the last decade China became the world’s largest consumer of energy, surpassing the United States.
China’s energy supply and demand has continued to surge ahead at an amazing pace where total energy consumption exceeds three and half billion tons of standard coal and the amount of power generated in excess of 4.6 trillion kWh.
Although coal will still dominant, opportunities in China exist in Thermal Power and Smart Grids. Thermal power sources are expected to supply the majority of China’s power over the next decade. China’s power generation and transmission systems have come under increased pressure in recent years as greater demands have been placed upon them, not only does China consume more energy than any other country, the distance between the centres of power demand on the country’s east coast and generation in the center and west is growing so Smart Grids are essential. Additionally, China’s boom in wind and solar energy construction is necessitating the need for a grid system that can manage the fluctuation in supply from these sources. China is also moving forward with the development of an electronic vehicle ecosystem (EVs).
China recognizes the need to import foreign technology, it wants to localize as much of this technology as possible. So companies who operate in areas of: smart grid related IT-services, advanced smart metering products, converter/transformer solutions and energy storage technologies can form joint-ventures in this market. Government policies point favorably in the direction of developing more clean energy.