Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the utility sector. This time, you get to discover 5 hand-picked smart metering solutions for utility companies.
Global Startup Heat Map highlights 5 Top Smart Metering Solutions for Utility Companies out of 191
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 2 093 000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 191 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 utility startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 186 smart metering solutions for utility companies, get in touch.
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IoTECH provides IoT-based Smart Monitoring
The expanding and complex network of water and gas pipelines along with related infrastructure result in higher financial costs due to non-technical losses, including losses caused by leaks, incorrect billing, and theft. As cities continue to grow, the scale of these problems also continues to increase with more resources required to prevent them. This is why startups are creating Internet of Things (IoT)-based smart metering solutions.
Greek startup IoTECH develops IoT-based smart monitoring devices. The startup’s smart meters for water and gas utilities provide consumption feedback to consumers, leading to a significant reduction in consumption. The data from the meter also facilitates rapid leak detection. This reduces residential water demand and improves network efficiency.
Circle Gas develops Narrowband IoT Smart Meters
In many developing countries, gas is essential for cooking in households due to the high cost of electricity and electric stoves. However, even the cost of gas is too high for many households, forcing them to use charcoal or kerosene which are cheap but unhealthy and highly polluting. To alleviate this problem, startups are developing smart metering solutions that monitor and reduce gas usage.
British startup Circle Gas operates and manufactures narrowband IoT smart meters for gas networks in Kenya. The startup’s smart meters are connected to mobile wallets and provide gas as long as they have sufficient funds. The connected mobile app also allows customers to receive customer and billing support, place and track replacement requests as well as monitor their usage. Additionally, utility operators use this data to manage and improve services. Thus, Circle Gas’s solution reduces the dependence on unhealthy alternatives to gas in developing economies.
OneMeter enables Smart Electricity Metering
The cost of electricity is constantly increasing as companies transition to renewable energy. Currently, many providers use estimated billing which is based on an average of the previous usage, taking into account any seasonal patterns. This method of billing and energy tracking creates inaccurate forecasts which lead to excessive billing for customers and grid operators. To solve these problems, startups are providing smart meter solutions that offer live usage data.
Polish startup OneMeter develops a device that enables real-time information collection from electric meters. The OneMeter device attaches with electric meters to provide energy cost calculations, energy consumption data, and energy load data, among others. Consumers use a smartphone app to connect to the device and analyze the data. This allows residential and commercial users to quantify and track their energy usage, in turn, allowing them to set limits and alerts.
M-paya Prepaid offers Gas Sub-Meters
Large buildings and residential communities often do not use individual or sub-metering systems which are challenging for both tenants and property managers. The main problems in only using main or master utility meters include inaccurate estimates and the lack of data about utility usage. Further, tenants have no control over their consumption charges. As a result, it becomes difficult to boost energy efficiency or save money which is why startups are developing smart sub-metering solutions.
Kenyan startup M-paya Prepaid develops smart meter solutions for property managers and developers to reduce utility expenses. Their gas sub-metering solution accurately bills each individual tenant for their own gas usage, as opposed to splitting the cost equally. Its benefits include increased building value, decreased operating costs, higher billing accuracy, and detailed usage reports, among others. M-paya Prepaid, thereby, provides greater transparency into the utility costs for both residential and commercial spaces.
Hydroid Meter manufactures Connected Water Meters
The growth of urban cities and their population creates challenges in water supply, compounded by climate change and drought. Non-revenue water is among the largest contributors to scarcity in water supply and is highly difficult to identify in traditional water supply networks. To prevent the problem of scarcity, startups are offering connected water meters to optimize the consumption and flow of water.
US-based startup Hydroid Meter develops smart meters for real-time monitoring, reporting, and analysis of water consumption. Their smart meter visualizes flow behavior to detect usage and behavior patterns as well as features leak detection and remotely operated valves. The data from the meters ease commercial and residential billing management, identifies waste, and enable water conservation for water utility companies and consumers.
Discover more Utility Startups
Utility Startups such as the examples highlighted in this report focus on grid management, predictive analytics, and remote inspection. While all of these technologies play a major role in advancing utilities, they only represent the tip of the iceberg. To explore more utility technologies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download one of our free Industry Innovation Reports to save your time and improve strategic decision-making.
