According to Innovation Observatory, the smart grid upgrade in the United States will cost $60 billion, including the meters, grid automation, communications infrastructure, IT systems and hardware, systems integration, and home area network equipment.
China will outspend the US on smart grid investments by 2016.
Other countries expected to be in the top ten spenders on the smart grid are France, Germany, Spain and the UK in Europe in terms of investment in smart grid infrastructure, and Japan and South Korea in Asia.
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