Utilities Tech Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Utilities Tech Outlook
FREMONT, CA: Smart meters have been present for a while, but up to now, only a few homes have had it installed. A smart meter launches automatic readings straight to the supplier as well as showing the data for energy usage. The data about energy utilization helps the user to estimate the bills. The smart meter allows the energy sector to observe power usage and efficiency. They reduce the irregularity of estimated billing. In fact, for many households, installing smart meters can affect the reduction in their bills straight away.
Smart meters are also the initial point of a vital improvement to the national energy infrastructure. At the macro level, the information they provide will enable energy companies to produce ‘smart grids’, using digital technology. A smarter grid, with more equitable demand, actively puts into the de-carbonization of energy and the lessening of emissions created fossil fuels.
On a personal level, understanding, paying for, and managing energy usage provides a tangible benefit right away. But beyond the aptitude to use this information to regulate the energy use, smart meters will also allow citizens to access developing services taken from using the data provided in the future.
Even if citizens do not generate their own energy, battery technology is developing with time. A battery at home to store energy will open up the possibility of accessing energy at times of scarcity when the cost is high. As homes are gradually becoming ‘smarter’ with the devices, appliances, and applications in them, residents will start seeing home automation taking charge of the cost of electricity. For example, washing machines or dishwashers, connected to each other, can be devised to turn on when power is cheap.
The instant opportunities of smart metering recline in the areas of data access, billing precision, energy efficiency, performance, and compliance. Analytics and technology imbibed with IoT and the smart meter will unfold more exciting possibilities into the future.
See Also: Top Utilities Technology Companies In APAC
