Sense, Lighthouse release report on next-generation smart meter capabilities
Sense, a device and home automation business, recently announced the release of a new Guidehouse Insights paper called “Inside-the-Meter Intelligence to Become the Norm.” The report explores how next-generation smart meters, advanced analytics and AI will transform home energy use and grid intelligence.
The whitepaper explores three key topics, including the history of smart metering technology, how smart meters evolved into edge computing devices, and how next-generation smart meters can help utilities improve their energy efficiency and demand response programs.
The study looks into how meter lifetimes vary across different utilities in Western Europe and North America. The report also sheds light on how global smart meter upgrade and replacement projects will increase in the next ten years.
“In the US alone, an estimated 65 million smart meters will need to be replaced by the end of 2027. This dovetails with ambitious energy efficiency and electrification goals codified by the Inflation Reduction Act,” said Michael Kelly, senior research analyst and managing consultant at Guidehouse. “Now is the time for utility decision-makers to make smart meter decisions that will have a real impact on their programs for addressing climate change,” he urged.
The leading six key findings of the report include:
- There are three critical capabilities for turning smart meters into sophisticated grid-edge computing devices: (1) high-resolution waveform data that allows real-time device identification, (2) edge computing embedded in the meter and (3) Low latency networking via cellular or Wi-Fi to support real-time consumer experiences.
- The percentage of second-generation smart meters in the United States may rise from 4% in 2021 to over 25% by 2030. Smart meters have an average lifespan of 10 to 13 years in North America, depending on the utility.
- Most smart meters are first-generation devices because they do not have the technical specifications (memory, suitable computing and programmability) or data capture capabilities (high-resolution waveform data) necessary to be called second or next-generation devices.
- The shift to inside-the-meter analytics is similar to the one that occurred when more people began using smartphones. A telecom tipping point happened when consumers started using phones primarily for computation and applications instead of just voice calls.
- The value proposition of smart meter installations has yet to be fully realized. Some immediate benefits include optimizing the workforce, increasing billing accuracy, and detecting outages before they occur.
- The report states it expects the shift to edge computing to provide utilities and their clients with more significant advantages while assisting with larger climate and decarbonization goals.
Meanwhile, CEO of Sense, Michael Phillips, believes that “as utilities across the country evaluate next-generation smart meter capabilities, it is imperative they understand the potential of advanced inside-the-meter intelligence and how it can support energy efficiency and demand response priorities.”
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energy consumption | Guidehouse Insights | IoT | Sense | smart meter | utilities