There is wide agreement that the combination of electrification and a low-carbon power grid is the most viable path towards meeting our decarbonization goals for buildings and transportation. Energy efficiency and demand flexibility are key drivers to allow us to do this cost effectively. These approaches are essential because without them, the industry will need to overbuild grid capacity and storage. By influencing when and how much energy is used, we can support the coming expansion of electrification and use of renewable sources with much less disruption to the grid.
Smart meters will play an important role in this path to decarbonization. Smart meter data analytics will deliver value in areas such as grid optimization, customer experience, and distributed energy resource integration. The global penetration of smart meters will climb from approximately 44% at the end of 2020 to 56% by the end of 2028, resulting in over 1.2 billion devices globally according to Guidehouse.
Announced in 2020 and coming to market now, the first of a new generation of AMI meters uses high resolution waveform data to provide far more detailed insights both behind the meter and at the grid edge. Next year, as utilities and policymakers make decisions about AMI deployments, it’s important for decision makers to understand the role that these new meters can play in consumer engagement, potentially making or breaking the success of energy efficiency and demand response programs.