What are the Factors Driving the Smart Electricity Meter Rollout in India?

A recent report from Research and Markets establishes that between 2021 and 2026, the smart electricity meter market will grow approximately tenfold. 

And why would it not? With its apparent benefits in metering and billing for both DISCOMs and consumers, it makes sense for the traditional meters to hang their cape and smart electricity meters to take the mantle. 

In fact, with smart meters becoming the mainstay, utilities will be able to increase their revenue generation capacity from $19.6 billion to $30.2 billion.

However, when it comes to the market, there are many factors that drive the rise (or fall) of different trends. 

Let’s discuss what factors drive the smart meter trend and accelerate the rollout. 

Renewable Energy Plans and Net-Zero Goals 

With the climate getting more volatile by the day, there’s a need to leverage renewable energy resources and reduce dependency on fossil fuels. And with technologies like smart metering and real-time usage analytics it facilitates, it’ll play a huge role in helping DISCOMs and energy manufacturing firms to stabilize the grids by matching supply and demand volume.

Increases in Electric Vehicles

EV charging, when it begins in full swing, will place heavy strains on the grid. Having a smart electricity meter, therefore, can help in real-time monitoring, along with other smart meter-enabled use cases such as demand forecasting and accurate time-of-use tariffs are expected to provide DISCOMs and EV owners with information regarding when its best to charge your car and avoid using the grids.

Reduced Outages and Grid Failures

India is famously known for its power outages, with 24/7 reliable power supply being limited to the most upmarket localities of the metro. This is mainly due to many setbacks in power distribution, which can be attributed to the lack of visibility of the entire grid. Smart electric meters can change this with enhanced, end-to-end grid visibility.

With these smart meters in place, DISCOMs and utilities can monitor the status of every node in the grid and even carry out predictive maintenance by analyzing the data from these nodes. On top of that, utilities can even check if any theft is being carried out, which is quite common in deserted lines located on the outskirts of cities. 

Energy Bill Reduction

As the consumer demand for green and smart services continues to rise, so will the demand for personalized solutions that enable consumers to optimize their consumption and reduce bills in the process. Plus, with the intervention of smart power meters, utilities are not only able to reduce energy costs for consumers but also for themselves. 

At Genus, we’re committed to providing metering solutions that help utilities and consumers optimize their energy delivery and consumption and pave the way for a sustainable future. Visit our website to view our range of smart metering solutions, including single-phase and 3 phase meter box India

Other Factors For The Increased Adoption of Electric Meter

Here are some of the other factors driving smart meter adoption in India.

In the residential sector, the increase in demand can be attributed to the higher energy usage due to the increased use of home appliances such as TVs, ACs, refrigerators, lighting, ceiling fans, PCs, and heating equipment. 

Due to this dynamic usage, utilities need to address this increasing power demand by offsetting it with the usage of the smart electric meter, as these not only enhance grid operations and resiliency but also help you save power to compensate for the demand. 

Electrical losses are another thing that can ramp up costs. Plus with the advancements in machine learning, artificial intelligence, advanced metering, and sensors, new possibilities have opened up, due to which it makes sense to invest smart power meters.

Leverage Genus’ wide range of metering solutions to supplement your single phase energy meter connection and unlock a slew of insights and analytics for optimum power delivery and usage.

End Note

With these factors into play, there’s no doubt that the smart meters rollout will definitely accelerate in India. And as smart electricity meters become the mainstay in the DISCOM domain, so will savings, efficiency, and sustainability.

And for the best metering solutions, Genus Power can check all boxes on your efficiency checklist and provide you with metering products and solutions that can unlock savings, both monetary and resources.

Visit our website to know more about the said products. Or directly get in touch with us to discuss our solutions, prices, and any custom requirements that you’re looking for.


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