Smart energy meter is a software-based, power efficient device that accurately tracks the energy consumption. Meter readings can be transmitted to distributors/utilities over wireless media; thus, eliminating the need of a manual meter reading collection process. The Smart energy meter offers major benefits to both the customers and companies, in terms of efficiency, reliability, and cost saving.
The Smart meter technology is designed to show the exact use of energy; allowing them to curb its use, save money, and cut carbon emissions. These meters provide a wide range of advanced features. Such features include the ability to detect service outage, unauthorized use of electricity and change the maximum amount of electricity that a customer can demand. Further, they help in remotely changing the meter's billing plan from credit to pre-paid, as well as from flat-rate to multi-tariff.
In Germany, the amendment of the Energy Economy Law in 2008 brought about the quick liberalization of meter reading services. This led to developments in the Smart meter market. The increasing energy requirements, compliance to technical targets and the rapidly increasing residential sector are further driving the sales of the Smart meters in Germany. Moreover, a full-fledged large scale implementation of Smart energy meters in every household within Germany is yet to be observed.
The report by TechNavio Insights forecasts the size of the smart energy meters market in Germany over the period 2009-2013. Further, it discusses the key market trends, drivers and challenges of the smart energy meters market in Germany and profiles some of the key vendors of this industry.