Smart metering is one of the first steps to developing city-wide smart grid systems that help address challenges surrounding energy consumption and water usage. By providing real-time data on electricity and water usage, smart meters allow utility providers to optimize energy distribution while also empowering consumers to make smarter decisions about their energy usage. With IoT solutions for smart metering, you can help improve customer service and your bottom line through actionable insights developed from meter data.
With IoT-ready smart meters, your company will have access to rich, real-time data that enables you to provide better service while reducing costs and boosting profit:
- Effectively balance electric loads and reduce power outages.
- Streamline energy distribution through more accurate forecasting.
- Enable dynamic pricing by raising or lowering costs based on real-time demand.
With smart meter technology, utilities can also empower their customers to make smarter decisions about their energy usage by:
- Providing helpful and detailed feedback on energy consumption using precise, real-time data from their smart meter.
- Improving transparency on monthly energy bills through offering more accurate pricing based on usage.
- Enabling them to adjust their habits based on this information in order to reduce monthly electric bills.
LoRaWAN’s range is another significant advantage in building the infrastructure for smart meters. With a range of between 4 and 10 km, depending on building density, especially rural regions, this technology can cover incredible distances with comparatively little infrastructure investment.
