Compared with traditional power grid, an important increment of smart grid is reflected in the deployment of smart meters, concentrators, collectors, special transformer terminals and other equipment. China’s first generation of smart meters began production after the introduction of the development plan in 2009. 2009-10 is the planning pilot stage, and the bidding volume is relatively low; After the technical standards are mature, the smart meter will enter the stage of mass production in 2011-15. The average annual bidding volume of the State Grid exceeds 60 million, and reached the peak level of more than 90 million in 2015. With the rapid and comprehensive promotion of smart meters, the bidding volume of smart meters is facing serious downward pressure during the 13th Five Year Plan period. The actual bidding volume of smart meters in the state grid was 65.73 million in 2016 and 37.78 million in 2017.

In terms of investment scale, in the past few years, the price of smart meters has basically remained stable. According to different models and constituent modules, the price range is 200-350 yuan / piece. Concentrator and collector are basically divided into three grades of 100 yuan, 200 yuan and 300 yuan according to different models. However, in recent two years, the concentrator of 100 yuan gear can rarely be seen in the bid winning information, mainly the model of 300 yuan gear. The total historical investment is shown in the figure below:

The total investment in domestic smart meters and power consumption information acquisition equipment is expected to hit the bottom and rebound

China's exports of smart meters continued to grow

Data source: public data sorting

With the first batch of smart meters gradually reaching the design life in 2009-10, the State Grid should enter the stage of large-scale replacement of a new generation of meters from 2017. However, the introduction of relevant technical standards was later than expected. Until June 2017, the State Grid issued the technical specification for interconnection and interworking of low voltage power line broadband carrier communication (Q / gdw11612-2016), which clarified the general provisions, technical requirements, inspection methods, physical layer communication protocol and other contents of broadband carrier technical standards. A publicity and implementation meeting was held in July to guide social enterprises to design and develop broadband carrier chips and communication modules. After the introduction of the standard, it went through the revision of the spectrum range, and carried out multiple rounds of broadband and narrow-band carrier communication interoperability test, and the overall progress was slower than expected. It also affected the bidding volume of State Grid in 2017, with only 37.78 million, a year-on-year decrease of 43%.

Countries along the “the Belt and Road” are important export markets for China’s smart meters. In December, 2017, shuyinbiao, chairman of the State Grid Corporation of China, said at the “B20 China Business Council 2017 annual meeting and the ‘the Belt and Road’ dialogue meeting” that the State Grid Corporation of China would further explore markets in key countries of the “the Belt and Road” and promote the complementary development of energy resources in various countries; At the same time, strengthen the mutual recognition of market standards with key countries along the line, and improve the promotion of Chinese standards abroad. It is estimated that the power investment demand of countries along the “the Belt and Road” will reach US $1.5 trillion in the next five years, with a broad market space. In the same month, the leading group office for promoting the construction of the “the Belt and Road” issued the action plan for standard Unicom to jointly build the “the Belt and Road” (2018-2020). It is expected that the national standards for key smart grid markets will be unified in the next few years.

From 2012 to 2018, China’s exports of smart meters continued to grow (10000 sets)

China's exports of smart meters continued to grow

Data source: public data sorting

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