Savi Smart Meters: IoT smart metering suite that gets power companies paid for the power they provide
Summary
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Details
Deep dive
Main Features
Revenue Collection: Savi Meters (together with the Nimbus AMI platform) allow for the receipt of energy prepayments via mobile money, cash and STS vending systems. Apply different tariff forms, including flat-rate, step, and hybrid tariffs.
Security: Savi meters provide reliable and secure communications in all locations, using the latest hot-swappable and modular communications. These options permit the meter to interface with the Nimbus AMI platform directly or indirectly, with all communications secured using AES-128bit encryption. It also has other security features to prevent fraud or tampering.
Versatility: Savi meters are usable anywhere in different types of distribution grids and mini-grids. They can installed either outdoors or indoors.
Data Protection: Savi Meters stores all registration and configuration data in non-volatile memory and is retained for the life of the meter.
Target Users
Utility Companies: Electric, gas, and water utilities use smart meters to monitor consumption, improve billing accuracy, and enhance service delivery.
Municipalities and Local Governments: Implement smart meters as part of smart city initiatives to improve resource management and sustainability.
Industrial and Commercial Enterprises: Large-scale consumers of utilities use smart meters for better energy management, cost control, and operational efficiency.
Residential Consumers: Homeowners adopt smart meters to monitor their utility usage, manage costs, and contribute to energy conservation efforts.
Property Management Firms: Use smart meters in residential and commercial properties to streamline billing and maintenance processes.
Renewable Energy Providers: Integrate smart meters to optimize the distribution and management of energy from renewable sources like solar and wind.
Pricing
SteamaCo has not publicly disclosed specific pricing or subscription plans for their Savi Smart Meters. Interested parties should contact SteamaCo directly to request a demo and get a detailed quote tailored to their specific requirements.
Market Outlook
The global market for smart meters was estimated at $29.50 billion in 2023 and is projected to more than double that amount by 2032 (source: Expert Market Research). Smart meters have been reported to have the highest adoption rates of any smart grid technology. As of late 2023, smart electricity meters had a 43% share of the global electricity meter market (source: IOT Analytics). The market is most mature in North America with around 77% market penetration. Europe had a smart meter penetration rate of 60% in 2023, which is expected to rise to 78% in 2028 (source: Smart Energy International).
Africa, South Asia and Latin America have much lower rates of market penetration of smart electricity meters meaning that there is a greater scope for growth. However large-scale adoption might be limited by some demand- and supply-side challenges. For instance, the deployment of smart meters involves significant upfront costs for the devices, installation, and infrastructure upgrades, which can be a barrier for utility companies and consumers. There are also regulatory hurdles as regulations in some countries have not kept pace with technological advancements. These and other challenges require comprehensive strategies that address financial, regulatory, technical, and social dimensions to ensure successful smart meter rollouts.
