Developments in smart meter technology mean that utilities will be able to monitor their networks in real-time and bring greater benefits faster to themselves and their users. More computing power in the smart meters means quicker data acquisition, with lower amounts of information sent to cloud databases, so that companies can take action more swiftly. These advanced computing user-located devices also ensure the reduction of data leakage, using and sharing only essential information. Thus advanced smart meters will be part of an advanced sensor network, bringing together utilities, data clouds and users in what can be reasonably described as an “ecosystem”.
By utilizing this new generation of meters which have significant computing power, costs can be reduced and grid resilience improved. Distributed systems enable low latency and a faster response to grid oscillations, blackouts or limited power supply.
These are all challenges well-known to grid operators in the US as extreme weather conditions represent the “new normal” and put a strain on the entire system, which has to respond to more hurricanes, wildfires and thunderstorms. A fast response is critical, which is where next-generation meters can communicate more effectively between end users and operators.
Artificial Intelligence (AI) and Machine Learning (ML) systems will provide big data analysis, which will build up a better picture of the state of the network in real time, helping the power supplier coordinate a wide range of resources, from large, conventional power plants, to rooftop DERs, and energy storage systems including batteries and hydrogen. The most intriguing development is how consumers evolve from being passive recipients of a service, to prosumers, who are generating their own power some of the time, and reacting to opportunities (for example, discounted electricity in the night-time to run appliances), to gain benefits for themselves.