How big is the smart meter industry in India? List of stocks in this sector
Smart meters: Prepaid smart meters are next-generation energy meters that are installed in homes and businesses to record electricity consumption in real time. Because it is connected to the internet, users can easily track and monitor their electricity usage and receive accurate bills.
Smart Meter Segment
Smart meters can be classified into various categories based on their purpose, technology used, etc. For example, there are separate smart meters for water, electricity and gas depending on their use. Apart from that, there are further classifications based on the technology used such as AMI and AMR meters.
Advanced metering infrastructure is an integrated system of smart meters, communications networks, and data management systems that enable two-way communication between meter endpoints and utilities. Unlike AMR, AMI does not require utility personnel to collect data. Instead, the system automatically transmits data directly to the utility at predetermined intervals.
Building blocks of advanced metering infrastructure (AMI)
AMI includes smart meters that can collect information about energy, water and gas usage at various intervals and transmit the data over a second component of the grid, a communications network. This data is further transmitted to the Meter Data Acquisition System (MDAS), which collects the data and forwards it to the appropriate system. Metering Data Management System (MDMS) ultimately receives, stores and analyzes the data.
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global outlook
The global smart meters market is expected to grow from USD 23.1 billion to USD 36.3 billion in 2028, at a CAGR of 9.4% from 2023 to 2028. Key factors driving the growth include the current NDA government’s plans towards contactless billing, improved grid reliability, and efficient outage response. This provides power companies with data that can help them analyze the different factors affecting their industry.
Asia Pacific region will be the major growth engine, led by China and India, followed by Europe, which will be the second largest market for smart meters during the forecast period.
government initiative
To quickly establish its stated goal of pan-India universal power access, the Indian government is enabling a smart grid that can deliver affordable prices and other benefits to consumers. The first step to realizing a smart grid is the implementation of advanced metering infrastructure (AMI).
The Smart Meters National Program is being implemented to deploy smart meters across the country. The scheme is being implemented by Energy Efficiency Services Limited (EESL), a PSU joint venture under the Ministry of Power.
The Smart Meter National Program (SNMP) aims to replace 250 million conventional meters in India with smart meters. The smart meters are procured from EESL. The program has now already been launched in the states of Haryana and Uttar Pradesh.
smart meter stocks
Global companies included on the list include LandisGyr, Itron, Inc., Osaki Electric Company, and Siemens. Some of the Indian players listed on the stock exchanges are:
Genus Power Infrastructure
Genus Power Infrastructure It was incorporated in 1992 as part of Kailash Group. It primarily deals with manufacturing and providing metrology solutions, but also carries out construction and engineering contracts.
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HPL Power
HPL power We are India’s leading electrical equipment manufacturer with over 40 years of experience. The company operates in five main product segments: Metering Solutions, Modular Switches, Switchgear, LED Lighting, and Wire & Cable. The company also exports its products to more than 42 countries around the world.
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Larsen and Toubro
Larsen and Toubrow It is a multinational company with diverse business prospects ranging from engineering, procurement and construction solutions to defense, power, IT and industrial. financial services.
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Genus Power’s stock price is now up more than 200% in a year, while Larsen & Toubro’s stock price is up nearly 55%. The price of HPL Electric & Power has also surged from ₹100 to ₹486 in the last one year. The stocks of all of these companies have delivered impressive returns as a result of improving earnings numbers and the company’s projected future range.
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argument
Health Effects
Smart meters expose every country’s power grid to cyberattacks during times of military or political turmoil. In Europe, there are concerns about health effects from smart meters due to their radio frequency emissions, but the California Science and Technology Commission was unable to find any health effects from the frequency waves from smart meters.
Another study by Daniel Hirsch, director of the Environmental and Nuclear Policy Program at UC Santa Cruz, criticized the CCST report because it did not take into account research suggesting the possibility of non-thermal health effects, such as latent cancer, from RF exposure.
price controversy
Smart meters also allow for dynamic pricing. It can be used to reduce prices during periods of low demand, and can also be used to increase prices during peak times if all consumers have smart meters. Smart meters also allow energy suppliers to immediately switch customers to expensive prepaid tariffs if they are having trouble paying.
From 2022, during a period of very high energy prices, companies in the UK were remotely converting smart meters from credit tariffs to expensive prepaid tariffs that cut off supplies unless credit was purchased.
Privacy Issues
Another concern peaking in the minds of the public is the privacy issues associated with data collection and use, as smart meters are powerful enough to collect detailed energy usage and times of use. We may also collect data about, for example, the device you are using. This use case has been seen in the past in Australia, where debt collectors can use this data to know if people are home.
Additionally, this data was used as evidence in a court case in Austin, Texas. Police agencies have secretly collected smart meter power usage data from thousands of residences to determine which places use more power than “normal” to identify marijuana grow operations.
limited benefits
There are questions about whether electricity and water are primarily “on-demand” services, or whether they should be. Moreover, there is little evidence to prove that smart meters are effective in saving energy and water waste. Additionally, the on-screen rate structures of some smart meter models make it difficult for users to contemplate the technical aspects.
conclusion
As water is scarce globally and the world is transitioning to green energy, electricity and water will become key resources over time, so it remains to be seen how the smart meter industry will perform in the coming years with the push from governments and developments. This will be interesting. And a distribution company. It is also important to note how the data collected by smart metering companies is used to optimize the use of energy resources and water.
written By Deepangshu Kundu
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