How the Internet of Things Technology Impacts Energy Metering?
Do you ever wish you were connected to your surroundings in a better manner? If yes, get excited. IoT is there to convert your wishes into reality. IoT stands for ‘Internet of Things.’ All our surroundings from home to offices, from cities to industries will become smarter with the help of IoT. People will be able to lead a simpler and more productive life.
Connected devices that exchange data with each other are adopting IoT to make the transmission of data easier. As the craze for IoT continues to rise in the successive years, you will notice a shift in people’s relationship with connecting devices. There will be a need to ensure that the devices can process the data, work as per the instructions and manage the data without any human interference. Because almost every industry is relying on IoT to make their work easier and more productive, the connection between the devices needs to be flexible.
IoT in Energy Metering
Today, different industries are embracing the role of IoT and the positive changes it can bring around. These new technologies open up the door towards new possibilities of how we see things around and enable us to make it a lot better than what is there now. Small and big cities alike are relying on IoT to sort out day to day problems such as traffic jams, inefficient consumption of energy, etc. There’s an emerging need to improve the connectivity between different parts of the country be it urban or rural. A well-thought-out solution can address all these problems at a larger scale.
In 2019, utilities played a major role in revolutionizing the way people perceived IoT. Cloud based meter data reading system has been at the forefront of the change. Utilities are able to effectively improve network visibility and ensure revenue realization using smart metering. Smart meters analyse, measure and record electricity usage in intervals, and identify power outage and monitor the quality of the power. The energy consumption data collected is managed by the smart meter headend systems and conveyed back to the electricity distributor who manages and owns the grid.
Advantages of Smart Energy Meters with IoT
Utility companies are relying more and more on smart meters because they can increase the companies’ revenue and improve operational efficiency and productivity by boosting growth to manifolds. The energy sector has a lot of benefits from smart meters. The IoT platform for energy offers several advantages in the energy industry making the sector profitable and productive. It’s a known fact that the energy sector requires a lot of funds to function at its best. But a country’s economy cannot be strong at all times. Hence, the majority of the time, the energy sector has to look for ways to cut down costs and work within a tight budget. Use of smart meters will enable it for the energy sector to save unnecessary expenses by cutting down on operational costs. Billing also poses a major problem in the energy sector and hampers the smooth functioning of the work. It can be improved considerably by the use of smart meters. The conventional way of preparing bills requires visiting a customer’s house and checking the meter reading every month. This method can be eliminated with the use of smart meters by making the entire process automated by remote reading. Previously, meters used to be placed on the ground floor of the apartments but this is not necessary for smart meters. They can be placed anywhere in the building or home.
Now, that these meters can be kept anywhere in the house, or it can also be integrated to the home gateway or home automation systems; house owners will have an easy time keeping a check on their energy consumption. In an age where the government is asking us to save energy for the future generation, smart meters can be the best tool.
If you think smart meters can be used only for water and electricity, you are wrong. These can be used for multiple purposes such as gas, water, temperature, etc. You are wondering how this works, aren’t you? Water consumption can be monitored and analyzed with the use of smart meters. Generally, in monsoons, a lot of water gets wasted. If saved properly, it can be put to better use. Smart meters can help in keeping an eye on water consumption. If a household is using more than the requisite amount of water or wasting the water unnecessarily, they can learn about it from the smart meters. This will help in ensuring that water is used in a limited manner for important purposes. Wastage of water can be avoided to a significant extent.
Well, to make better use of the available data, IoT platforms are connected to the devices over the network. The data gets collected on the platform. The collected data is analyzed to make it accessible to individuals. After accessing this data, individuals and companies supplying this data can make better use of it to prepare bills, design models, etc.
Smart meters are going to bring massive transformation with the help of IoT technology. If used to their fullest potential, they can make everyone’s life much simpler and easier.