Smart Meters Market Research Reports & Industry Analysis

Smart meters represent the third generation of modern electricity meters used for measuring and communicating the real-time energy consumption of a utility ratepayer, electrical co-op member or at another electrical grid distribution end point. Smart meters form a core component for grid technologies capabilities such as time of use (TOU) pricing, advanced metering infrastructure (AMI), demand response (DR), and for other smart grid-related grid features. And like natural gas meters and water meters, any electrical meter is responsible for measuring the flow of a resource, electricity, to the points of consumption or aggregate load behind the metered point. Most modern electrical meters measure the instantaneous voltage and current to find instantaneous power consumption, which is aggregated over time to provide energy consumption. First-generation modern electrical meters required readings by utility personnel or the customer ratepayer to determine billings and energy costs. Automated meter reading (AMR) was introduced as a second-generation digital option that allowed for the remote reading of meters via wired networks or wireless signals. The automatic reading of meters through AMR, however, provided only limited, periodically-connected energy consumption and power quality data to a utility or other power service provider.

Smart meters are distinguished by their capacity to provide real-time or near real-time digital data to utilities and participate in two-way communications between power service providers and consumers. Smart meters are also differentiated by advanced attributes such as connective intensity, communications speed, ability to continuously monitor power quality, ability to dampen or disconnect service, ability to report power outages. Smart electrical meters also represent just one component of what is called advanced metering infrastructure (AMI) – an interactive system that includes smart meters, a communications network (wired or wireless), computer hardware, and meter data management software and systems. Advanced metering infrastructure enables smart meters to transmit data that is aggregated, managed and analyzed by utilities, third-party aggregators or other power service providers.