The arrival of smart meters can help households monitor electricity usage and reduce energy costs. With an increase in awareness, we will see a shift in consumer behavior and lifestyle for energy consumption...
It is no secret that the world is increasingly becoming much more environmentally conscious than a decade ago. Recent studies have shown that households are willing to adopt smart meters to help homes go green.
In Singapore, there is heightened awareness about energy saving and this is an increasingly important factor in consumer purchase behaviour. The use of smart technology in appliances is a contributing factor—allowing people to save energy in their households with real-time usage and energy demand insights for the consumer.
Although its carbon footprint is low compared to the Asia Pacific region, Singapore is affected by climate change. The country has pledged to reduce 36% of greenhouse gas emissions by 2030 alongside promoting policies and programs to conserve energy. However, the pressure is still mounting on the energy output and carbon footprint of businesses.
Dealing with climate change requires not only international commitment but also making conscious effort to conserve energy. In a report by Energy Market Authority, households account for approximately 15% of electricity consumption in Singapore. The arrival of smart meters can help households monitor electricity usage and reduce energy costs. With an increase in awareness, we will see a shift in consumer behavior and lifestyle for energy consumption.
Adopting smart metering systems
Smart metering technology provides households the flexibility of monitoring electricity consumption and making lifestyle changes to save energy. Integrated directly into the home grid, the smart metering system has an intelligent management service that regulates energy usage — allowing households to switch on or off appliances automatically. The system is also able to detect signals such as temperature and humidity, control appliances according to the specified limits. With smart meters, consumers have the knowledge and make informed decisions on energy usage and expenditure.
For instance, households can benefit from real-time usage updates and energy budget tracking. Home appliances fall into the category of Internet of Things (IoT) as more devices are integrated in the smart home with aims to enhance better usage and save energy. Singapore is currently encouraging people to adopt smart technology to improve lifestyles in areas such as energy consumption, environmental conservation, security and comfort.
Business carbon footprint
Businesses cannot afford to be left behind when it comes to adoption and implementation. With smart metering solutions, organisations can reduce their carbon footprint by identifying consumption patterns and monitoring usage. Besides the positive sustainability benefit, there are financial benefits as smart meters can help companies to reduce costs and improve energy output. There are expectations that as businesses continue to increase their green footprint and focus using smart technology.
Several technology companies are industry trailblazers with the influx of smart metering systems. Analog Devices Inc., a global leader in energy metering integrated circuits (ADI ADE9153A) provides energy insights in the market – mSure® technology allows automatic calibration of current and voltage channels without a source or reference meter. This significantly reduces calibration time, labor and equipment costs. Find out more.