Smart Gas Meters Reinforce Efforts to Curb Carbon Footprint: Here’s how

In the last couple of years, the deregulation of the energy sector in both developed and developing countries has been beneficial in several ways. While for the former, it has helped in betterment of services by means of drop in prices, for the latter, the removal of the barrier for private parties to extend utility services has helped in the improvement of services in these countries.

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However, the restructuring of the energy sector has necessitated the use of a means for consumption to match energy generation. The utilization of smart meters is looked upon as a formidable solution to overcome the shortcomings of traditional electrical and gas meters and to make life easier for consumers in this regard.

Installation Benefits of Smart Gas Meters – a Snapshot

First and foremost, the installation of smart meters is a useful tool for consumers to manage energy bills efficiently. The ease of placing these devices, which work in conjunction with a smart energy monitor to show the amount of energy used and an indication of the cost to the nearest decimal, anywhere around the house has helped generate demand for them in the past few years. Thus, the cost, for instance, to boil a kettle or leave the internal heating on at night can be physically viewed, which allows consumers to make changes that can help reduce energy bills. These meters automatically send meter readings to the energy supplier, which helps consumers avoid doing the mundane task.

In the bid to enhance the usability of smart meters, British Gas is trialing the use of smart meters for customers who want to implement a ‘Pay As You Go’ system, wherein the meter can be topped up either online or over the phone with an app and customers can have a visual representation of the available credit on the handy smart energy monitor.

In present times, utility companies have recognized the promise that smart energy distribution systems offer and are making efforts to translate the utilization of these systems into real benefits. This will account for the smart gas market’s rise at a phenomenal 32.20% CAGR from 2015 to 2023, says a market study published by Transparency Market Research.

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TMR analysts have enumerated some of the factors that are impacting the course of the smart gas meter market, which are as follows:

·         Consistently increasing demand for energy for residential, commercial, and industrial needs is necessitating attaining energy security goals for the long run. In the bid to achieve this, gas is increasingly being accepted as a utility, which is leading to the installation of smart devices to derive maximum value.

·         Presently, several environmental agencies working at an international level are focused on prescribing mandates in order to reduce greenhouse gas emissions that are associated with the deterioration of our planet. In this endeavor, use of smart gas meters is a step towards keeping a check on energy consumption.

·         In some of the countries in Central America, such as Brazil, the government’s initiative in rolling out smart gas meters to curb energy theft will benefit the said market in the forthcoming years. Other developing economies in the world are expected to follow suit in this regard.