29 °C Singapore, SG
May 21, 2024
Latest News
Corio Generation and bp Alternative Energy Investment Ltd invest in South Korea Australia missing climate targets Advocating for US based offshore wind Broken Record, Temperatures hit new highs, yet world fails to cut emissions (again) Toshiba and GE to shore up Japanese offshore wind domestic supply chain How I got here… National University of Singapore green finance academic Sumit Agarwal Multi-billion-dollar renewables project earmarked for Yindjibarndi native title land Smart Energy Finances: Enel divests 50% of Australian renewable operations to Japanese oil and gas giant Critical minerals investments surged by 30% finds IEA Kung Fu nuns fight climate change One of Southeast Asia’s largest energy storage systems comes online Why turning waste into gas will add value to this Indigenous economy Renewable energy records tumble around Australia as rooftop solar power soars Topsoe supports SGP BioEnergy in renewable fuels production in Panama ‘Poor tropical regions’ suffer greatest economic damage from worsening heatwaves UNEP: Meeting global climate goals now requires ‘rapid transformation of societies’ Analysis: Africa’s unreported extreme weather in 2022 and climate change Partly wind-powered coal ship sails into Newcastle New fossil fuels ‘incompatible’ with 1.5C goal, comprehensive analysis finds Australian offshore wind ‘supercharged’ in Victoria as billions pledged to fast-track projects Goldwind turbine ‘breaks world record for largest rotor diameter’, Chinese media reports BW Ideol to work with developer Taiya on Taiwan floating wind pilot US to boost floating wind power Wind Power in South Korea – an overview GS E&C to develop bioethanol using cassava waste Korean business group has asked the US to make exceptions for Korean EV’s in Inflation Reduction Act Equinor’s Australian offshore wind debut Global energy transition stalls – 2022 Global Status Report in pictures India’s ReNew Power secures $1bn loan for gigascale 24/7 wind-solar-battery project POSCO International to merge with POSCO Energy

Asia-Pacific forecast to reach 1 billion smart electricity meters by 2026 – study

The report, Smart Metering in Asia-Pacific, analyses the development of smart metering technology in China, Japan, South Korea, India, Bangladesh, Indonesia, the Philippines, Thailand, Vietnam, Australia and New Zealand.

According to the study, the installed base of smart electricity meters in Asia-Pacific will grow at a compound annual growth rate (CAGR) of 6.2% from 757.7 million units in 2021 to 1.1 billion units in 2027. At this pace, the milestone of 1 billion installed devices will be reached in 2026.

The penetration rate of smart electricity meters in Asia-Pacific will at the same time grow from 59 % in 2021 to 74% in 2027 while cumulative shipments during the forecast period will amount to a total of 934.6 million units.

According to Berg Insights, East Asia, including China, Japan and South Korea, has led the adoption of smart metering technology in Asia-Pacific with ambitious nationwide rollouts.

Have you read:
Optimising smart meter rollouts with proactive customer communication
UK smart meter rollout – bungled, woeful, promising or successful?

Asia-Pacific rollout

The region today constitutes the most mature smart metering market in the region, accounting for more than 95% of the installed base in Asia-Pacific at the end of 2021.

China has completed its rollout while Japan and South Korea are also expected to do so in the next few years. In China and Japan, replacements of first-generation smart meters have in fact already begun and are expected to ramp up significantly in the coming few years.

“Replacements of ageing first-generation smart meters will be the most important driver for smart meter shipments in Asia-Pacific in the coming years and will account for as much as 60% of the cumulative shipment volume during 2021–2027,” stated Levi Ostling, senior analyst at Berg Insight.

While East Asia constitutes the most mature smart metering market in Asia-Pacific, the fastest growing markets are on the other hand all found in South and Southeast Asia with a wave of smart metering projects now sweeping across the region.

The most significant growth is expected in India where a massive new governmental funding scheme has recently been introduced with the goal of achieving the installation of 250 million smart prepayment meters by 2026.

Have you read:
Data shows monthly GB smart meter rollout up 11%
The Clean Energy Package and the smart metering business case

In neighbouring Bangladesh, large-scale smart electricity metering installations are now also emerging in a similar push to install smart prepayment metering by the government.

“We’re also seeing positive developments in nascent smart metering markets such as Thailand, Indonesia and the Philippines, which combined constitute a potential market opportunity of around 130 million metering points”, said Ostling.

The report also illustrates that along with India, these three markets will be the fastest growing smart metering markets in Asia-Pacific during 2021–2027 with annual shipment volumes forecasted to grow at a CAGR in the range of 65–80%.

Cross-continental rollout

The research comes out as countries and companies across the world are racing to deploy advanced metering infrastructure (AMI) in their efforts to reach net zero. In late May, 2022, AMI and smart grid systems solutions provider Trilliant announced their partnership with SAMART, a Thai group of companies which focuses on telecommunications.

This was the latest announcement from Trilliant, which has reportedly connected more than 3 million smart meters for customers in India and Malaysia, with plans to deploy an additional 7 million meters over the next three years through existing partnerships.

Additionally, across the European continent, research has shown that smart metering still has some way to go, likely to reach the 80% threshold penetration for electricity only around 2025.

It will be of interest to see who takes the lead in the smart meter rollout race as the urgency of climate change becomes more apparent by the day.


Leave a Reply

Your email address will not be published. Required fields are marked *