Touted as nothing less than a revolution of sorts, a digital power meter is the latest addition in the quest for smarter energy consumption. It is not just households which seem to benefit with this latest technological offering, but businesses and organizations too will gain a lot from digital power meters. Better planning of energy consumption, real-time monitoring of the energy consumed, and lesser computational errors are just a few of the major advantages of digital power meters.
Decoding the ‘smart’ element in digital power meters
Well, just to clear all airs of doubt – anything which consumes energy or other resources in a rather effective and intelligent manner falls into the category of a ‘smart’ device. Smart devices are known to make life easier, provide a reliable pattern about our everyday activities, and enable us to monitor and plan out our actions in a rather productive manner.
By providing the precise reading of electricity consumed, the digital power meters do away with the need for traditional meter readers and also reduce the chances of wastage of energy. Being automatic in nature, these meters generate accurate bills thereby reducing the incidence of meter tampering. Thus, digital power meter is surely one of the smartest additions to the whole plethora of smart gadgets like smart plugs, smart substations, smart electricity grids, and smart cities.
How has the world responded to digital power meters?
Think about any global event, summit, or forum – and one common agenda of all is to bring down the GHGs, reduce the wastage of energy, and most of all switch to intelligent technological solutions. The recent summit of the European Union has categorically advised its members to switch to smart meters to contain the carbon footprint. Already, the British government has plans of fitting every home with a smart meter by the end of 2020. Governments in France, Germany, and Spain have rolled out policies which support and encourage adoption of digital power meters.
But this preference for smart meters is not a trend making rounds in the developed economies alone. If leading players in the smart energy sector are to be believed, then it is the developing world which has emerged as a huge market for their products. Economies in the APAC region, are the major customers for this next-generation meters. For instance, Singapore’s Energy Market Authority is experimenting with smart solutions which enable reading gas, electricity, and water consumption patterns remotely and reliably. India, on the other hand, already ranks third worldwide regarding smart grid investment. India Smart Grid Forum has also set its target for the roll out of 50 million smart meters by the year 2020.
To Know More About the Global Digital Power Meter Market
