The whole variety of good meters around the globe is predicted to virtually double over 2017 ranges by 2024, opening up new alternatives for customer-side management and analytics.
The world good meter whole will rise from 665.1 million in 2017 to greater than 1.2 billion by the top of 2024, in accordance to a brand new Wood Mackenzie report. Accordingly, the cumulative world expenditure on superior metering infrastructure (AMI) will virtually double over the identical interval, rising from $73 billion in 2017 to $145.8 billion in 2024 (all values USD).
The progress of AMI globally is a vital issue within the rise of customer-side flexibility, outlined by WoodMac because the orchestrated influence of distributed era and energy administration instruments on buyer load shapes.
Where AMI is prevalent, utilities acquire higher visibility into power provide and demand. In areas with excessive distributed energy useful resource penetrations, AMI can assist higher integration of solar power and distributed energy sources into the energy combine, together with the orchestration of DERs as an aggregate flexible resource.
AMI can enable renewable penetration to climb larger than would in any other case be doable, as a result of the extra information made accessible can function the inspiration for extra superior analytics and supply steering on optimization of behind-the-meter sources. At the identical time, prospects also can depend on good meters for helpful insights into their very own power consumption and era.
AMI penetration is poised to rise considerably over the approaching years in each developed and growing markets. Some international locations have taken the lead in good meter penetration, whereas others are shifting extra slowly.
Asia to drive AMI market progress via 2024 and past
Asia would be the largest marketplace for good meters over the subsequent 5 years, accounting for roughly two-thirds of the worldwide AMI put in base via 2024.
China is the important thing market driver within the area. The nation already accounts for greater than half of all good meters put in globally. The State Grid Corporation of China — the nation’s primary power distribution and transmission utility — deployed 476 million good meters between 2011 and 2017.
India will emerge as an more and more vital actor within the Asian market, thanks to the current introduction of a centralized AMI procurement and financing course of. As a consequence, India is projected to surpass Japan because the second largest AMI market in Asia by as early as 2023.
Wood Mackenzie additionally expects vital AMI progress within the United States and Europe over its forecast interval, with good meter penetration reaching 82 % and 74 %, respectively, by 2024.
When trying past the mixture information, nevertheless, each the U.S. and the European Union are a blended bag for AMI deployment, with penetration advancing at totally different speeds.
Many U.S. utilities have developed plans to deploy AMI, however regulators’ reactions have been blended throughout the nation.
One instance: In January of this 12 months, Virginia’s State Corporation Commission rejected a piece of Dominion’s grid modernization plan that included the set up of roughly 2.1 million good meters. The fee deemed the price of deploying good meters too excessive given the projected advantages, but additionally gave the utility a chance to current a brand new plan with a revised cost-benefit steadiness.
Meanwhile, different massive utilities like Duke Energy and Long Island Power Authority are implementing plans to set up tens of millions of AMI meters over the approaching years.
Similarly, AMI deployment is uneven throughout Europe, though the European Union has set objectives for good meter implementation by 2020 for a lot of international locations. As of 2019, Italy and Sweden have already began to deploy second-generation meters, whereas international locations like Germany and Poland have solely just lately begun to roll out AMI meters for the primary time.
Latin America and Oceania will stay comparatively small markets over the subsequent 5 years, although WoodMac expects a notable uptick in international locations together with Colombia, Mexico and Brazil.
Based on present information, Wood Mackenzie expects the African AMI market to stay small relative to the continent’s inhabitants, with solely modest good meter implementation via 2024.
For extra on the proliferation of superior metering infrastructure within the United States, refer to Wood Mackenzie’s AMI Global Forecast 2019-2024: H1 2019. For evaluation of residential customer-side flexibility within the United States, refer to this research insight.