The Future Changes Of Smart Energy Meters In Three Areas

In household applications, the installation of smart energy meters has promoted the democratization of energy, allowing consumers to become both producers and energy consumers. As technology continues to change, where will the next development take place?

With the introduction of a large amount of renewable energy into the grid, maintaining a stable supply of high-quality power is becoming a greater global challenge. High-quality power is very stable in terms of voltage and frequency, which is also an essential feature of power supplies. The demand for energy storage systems that use new energy sources to overcome this challenge is on the rise. Ram Ramachander, Chief Digital Officer and Chief Commercial Officer of Hitachi Europe’s Social Innovation Business, recently explained Hitachi’s efforts to develop new battery energy storage solutions, expand smart meter and electric vehicle plans, and look forward to the future development of energy.

Network connectivity and unprecedented amounts of data are revolutionizing many industries, and energy is no exception. Digitalization is changing the way people produce, distribute and manage energy. Artificial intelligence and machine learning can achieve predictive maintenance of the entire energy network, while battery energy storage technology can achieve the integration of renewable energy. In home applications, install smart meters and plan to buy electric cars. These advancements have promoted the democratization of energy, allowing consumers to become both producers and energy consumers. As technology continues to change, where will the next development take place? The latest white paper written by Hitachi and consulting firm Frost & Sullivan discusses these issues. This survey research highlights three areas where innovation is developing rapidly: the booming development of battery energy storage, the widespread use of smart meters, and the entry into the era of electric vehicles.

The prosperous development of battery energy storage

Battery energy storage is the key to the successful integration of renewable energy into the grid. Its ability to store energy can provide smoothing, congestion management and frequency regulation services for the grid, which is essential for the effective integration of power sources. These advancements depend on the development of battery technology. The new lithium-ion battery extends product life, increases energy storage capacity, and reduces volume, while the advanced battery management system maximizes cost savings through tariff price tracking and arbitrage services.

In the future, once the upfront costs are reduced, consumers who install their own energy storage systems will see significant cost savings and the ability to generate revenue through cloud-based community sales back to the grid. These communities can not only connect to homes, but also electric vehicles (EVs), allowing the use of grid charging points for cheap and green charging. Blockchain technology is currently being used in pilot projects to provide consumers who have installed and connected solar panels, energy storage systems, and electric vehicles with the trust layer required for Internet peer-to-peer energy transactions.

The report points out, “Why battery energy storage is so important to the future energy roadmap? It has a dual purpose. First, it promotes the integration of intermittent renewable energy while generating income. Battery energy storage promotes residential energy storage beyond 2020 Large-scale market adoption of the system. By 2025, we expect residential energy storage to become an integrated and essential component of all renewable energy projects."

The application of smart meters is increasing

Smart meters are one of the cornerstones of smart grids and digital energy because they generate a lot of data. As more and more users connect through smart meters, the amount of data available to the system also increases. The importance of smart meters lies in their simplicity. Compared with battery energy storage and electric vehicles, their entry barriers are lower (upfront costs are usually borne by energy suppliers), which means that they are likely to have the most direct impact on ordinary consumers. In Europe, the European Union has strong supervision over the installation of smart meters. Countries such as Sweden, Italy, and Finland have approached 100% smart meter penetration rates, benefiting from customer participation and active energy management initiatives.

As more and more smart meters are installed, the door is opened to digital retail services, such as tariff optimization, customer engagement, and Internet of Things (Internet of Things) technology. Among these advantages, the Internet of Things technology may be the most exciting: smart meters provide gateway services at the consumer level, such as response to commercial and industrial customer demand, remote building control, home energy management, and energy optimization. The opportunity to create efficiency is huge.

Mother Company: Guangdong Super Telecom Co., Ltd. (Stock No. SH.603322)

Business Type: ISO 9001:2008 and ISO 14001:2004 certified Manufacturer

Main Products: Telecom SCADA; Energy Meter; RTU; Cabinet air conditioner; CRAC

Total Annual Revenue: US$ 14 Million-US$20 Million

Main Market: Asia, South America, Europe

Location: Chengdu, China (Panda’s homeland)

Year Established: 2010

R&D Achieves: 16 product patents; 6 software copyrights

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