Today, the power and utility industry is going through a consequential shift. And this is evident as the demand for old metering systems is dwindling away and a massive shift towards the digital platform and smart meter technology is not going away anytime soon. Currently the smart meter technology is increasingly gaining grounds as smart meters have emerged as a blessing to its consumers, providing them the convenience of supervising and keeping a track of their power consumption. This latest technology enables a smooth communication between consumers and their respective utility providers, which allows the latter to timely discover the
Smart meters have proved to be a blessing to its consumers providing them complete freedom of supervising and regulating their power usage. Smart meter technology comes with smooth two-way communication between consumers and their respective utilities, which helps the utility providers to timely spot the collapses if any, and keeping up with service trustworthiness.
With different types of utility companies making a data-driven shift and shifting to a digital platform, an upswing in investments in new and smart technologies has been witnessed. The power and utility industry making a digital shift is likely to enhance the sales of smart meters in 2020 and beyond.
Unfolding the Future of Smart Meter Technology
Smart meter technology is coming out as a silver bullet revamping the entire electrical industry. But how? Well, a smart meter not only satisfies customers to the fullest but also lays the roadmap for fresh and ultra-modern business models to take over.
Talking about next few years, smart meter technology will continue to gain grounds as a key tool in terms of transfiguring the way how power and utility industry works.
The best part about smart meter technology is its scalability that allows its customers to derive maximum benefits from advanced technologies like smart home technologies, solar PV, etc. Efficacious energy supply, transparency in billing, customer satisfaction, performance, and compliance will be the crucial customer touch points.
Significance of Cellular Connectivity for Smart Meters
With increased recognition among the utility providers seeking reliable and secure medium of smart meter technology mediums and get connected with the smart meter technology network, the blend with cellular technology would prove to be silver lining. Cellular technology puts forward smooth and continual connectivity, consequently enabling the utility providers come in contact with smart meter systems, anytime and anywhere.
The use of cellular communication system for utility companies will not only lend a helping hand in gathering meter readings remotely but also will improve the efficiency and easy deployment of both system hardware and software. And moreover, the onset of technologies like LTE-M and NB-IOT already had and will continue to have a durable impact on continuously evolving demand of cellular connectivity for smooth integration of smart meter technology.
The current technology advancement is just incredible and is important on two significant fronts:
- Firstly, because around millions of people will have access to cost-effective, uninterrupted and energy saving benefits of smart meter technology.
- Secondly, with smart meters in huge numbers likely to enter the smart meter technology network, energy suppliers and key network administrators will have access to additional consumption data at their disposal to decode important patterns.
On one hand the data will be analyzed to improve the energy services for customers and on the other, smart meter operators will utilize this additional key data to have an accurate idea of supply and demand, enabling them to incorporate renewable sources of energy to complete the grid efficaciously. Therefore, it can be concluded that the smart meter technology is disrupting the power and utilities industry.