Business & Finance

The Future of Smart Utility – How Technology is Changing the Industry

A wide variety of solutions can monitor and remotely control a full range of utilities. These include smart meters, AMI, and substation automation systems with advanced remote controls.

Software-related futures can be recognized from technological, smart grid implementation, end-user, and electricity market perspectives. However, achieving these visions requires reliable connectivity.


The Future of Smart Utilities

The smart utility industry leverages digital technology to optimize energy production, distribution, and consumption. It allows utilities to lower costs, improve sustainability and enhance the reliability of power supply.

For example, smart meters allow electricity providers to replace manual meter readings and estimated billing with automated, precise data based on customer usage. The time-stamped meter data also allows for predictive maintenance, enabling technicians to identify issues before they become serious.

This advanced digitized system requires reliable, secure Internet of Things (IoT) connectivity solutions capable of providing a stable network that can handle high data transmission and withstand extreme weather conditions. It provides low-power, long-range IoT connectivity solutions like LPWAN and cellular M-bus for innovative metering applications. Proven security and reliability are a top priority for 83% of respondents in the latest survey. 

The Future of Smart Metering

Smart meters offer a range of cost savings and efficiency opportunities for utility providers and customers. These digital tools allow for precise energy usage monitoring and data access, better billing transparency, more accurate supply forecasting, and performance analysis.

Smart meters also help utilities reduce waste by identifying when load peaks occur. It allows them to send more resources to areas where demand is high and minimize power outages – all with the ability to instantly identify faults and confirm the complete restoration.

Since smart meters are battery-powered and often located underground or indoors, they require a connectivity solution with low power and long-range capabilities. As a result, smart meters rely on LPWAN technologies. Cellular solutions are widely adopted for gateways – especially as they support the eUICC, which is ideal for smart meter module SIM solutions.

The Future of Automation

Innovative utility management brings the power of automation to all parts of a utility provider’s infrastructure. It helps achieve measurable energy savings, meets sustainable environmental objectives, and improves supply reliability.

A vital aspect of this technology is the ability to monitor energy quality, not just quantity. It gives users valuable data insights about their energy consumption and empowers them to act on it.

Similarly, when an electricity network is undergoing an outage or fault, this information allows technicians to pinpoint the location of the issue quickly. It minimizes disruption and improves customer satisfaction.

Intelligent connectivity solutions and smart utility management can help optimize operations, increase profitability, and ensure a reliable energy supply. This approach can redefine utilities by creating new jobs and securing current ones.

The Future of Analytics

Using smart technology, data monitoring, alerts, and automation enables energy (electricity, water) utilities to manage better and deliver services. It also enables companies to be more efficient and improve sustainability for customers, communities, and the environment.

A key technology for smart utility is smart metering, which replaces traditional meters with digital devices that automatically transmit usage data to utility providers. It helps them optimize energy distribution and give customers actionable insights on reducing energy consumption.

A smart meter can monitor and identify abnormalities that humans might miss, such as efficiency loss due to corrosion or mineral scaling. It enables predictive maintenance to minimize the impact of problems and limit expensive repairs.