Smart Grid Projections for Asia

One of the obvious ways in which ICT can contribute to green growth is through the installation of a smart grid.   A new estimate suggests that smart grid investment in Asia is expected to reach $171.3 billion by 2017, up from $11.9 billion this year.  As NewNet notes, Korea is seeking to leverage its technology leadership in the IT and communications space to form an advanced smart grid infrastructure within the country, as well as an opportunity to export smart grid technologies around the world..

Renewable Energy Exports and Korea's ICT Sector

What does renewable energy have to do with Korea's Information Society?  The answer is partly provided by an interesting article in the Joongang Daily this morning, entitled "Renewable Energy Sector Booms, but also Lags."  According to the Knowledge Economy Ministry and Solar & Energy, total sales in the local renewable energy market reached $7.2 billion last year, a 58 percent surge from the previous year.  Exports jumped 77 percent to $4.5 billion, mainly boosted by demand for locally made solar power generators and related equipment.  The number of firms and employees in the renewable energy sector increased accordingly.   A Ministry official, noting that the renewable energy sector consists mainly of three sectors --solar, wind and biofuel--suggested that “What Korea should focus on is to integrate existing technology from sectors such as semiconductors and liquid-crystal displays with solar power energy, and also shipbuilding with wind power."

Korea Poised to be a Leader in Smart Grid Technology

The industry press is noting a new report by Pike Research on Korea's smart grid plans.  These were the subject of earlier posts last year.  The new report suggests that Korea's efforts will result in investments totalling $15.8 billion within South Korea itself between 2009 and 2016.  Noting that Korean companies have been at the forefront of innovation in ICT, an industry expert suggests they are now posed to take a significant leadership role in the smart grid market, both within Korea and on a global level.  This will be one of the interesting areas of industry convergence to watch, since a smart grid essentially involves convergence of ICT with the electric power industry and also because smart grids are considered a green technology.