India’s Smart Metering market: Exponential growth and potential savings

India’s smart metering market is on the cusp of exponential growth. Following the success of various pilot projects across the country and positive outcomes for stakeholders, the pace of smart meter awards and installation is gaining momentum. As of January 2024, 8.6 million smart consumer meters have been installed in the country. Notably, in 2023-24 (as of January), 3.02 million smart meters have been installed, which is nearly double the number installed in the previous year. As of December 2023, tenders for 104.3 million smart meters have been awarded. Meanwhile, tenders for 39.5 million smart meters are under evaluation, and for another 22 million smart meters, tender L1s have been decided upon and the letters of award (LoAs) are under process.

Smart meters hold the potential for substantial savings. According to industry estimates, India can save Rs 9.5 trillion by investing Rs 1.25 trillion in replacing 250 million conventional meters with smart meters. Smart meters offer a holistic overhaul of the metering landscape, providing benefits to utilities, consumers and other stakeholders. They ensure greater operational efficiency for discoms by aligning power procurement with real-time power demand, besides improving the customer value proposition and engagement.

CyanConnode Holdings plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
CyanConnode Holdings plc

More articles like this

CyanConnode Holdings plc

India’s push for Smart Meters and renewable energy integration

The power distribution system is witnessing a major transformation, especially regarding the high level of unpredictability due to renewable energy and electric vehicle (EV) charging. Coupled with this, the expectations of consumers particularly about reliability and safety have

CyanConnode Holdings plc

CyanConnode shares rise on new IntelliSmart order

CyanConnode Holdings PLC shares were up on Monday morning, after the company said it has won a new order that will enhance its footprint in the subcontinent. CyanConnode is a Cambridge, England-based developer of narrowband radio

CyanConnode Holdings plc

Smart Meters boost manufacturing energy efficiency

A new study from North Carolina State University researchers suggests that smart meters can improve energy efficiency in manufacturing. The key driver is the willingness of managers to actually make use of the technology, according to

CyanConnode Holdings plc

The role of Smart Meters in modern energy infrastructure

Smart meters today are not just about energy consumption recording; they are increasingly interconnected with home management systems, electric vehicles, and renewable energy sources AniruddhaV. Shahapure, CyanConnode COO Smart meters, being a cornerstone of modern energy

CyanConnode Holdings plc

Silicon Labs’ impact on Smart Metering in smart cities

Silicon Labs is a trailblazer in wireless connectivity for the Internet of Things. For nearly two decades, Silicon Labs has been building an unprecedented platform to support the broadest set of wireless technologies, standards, and ecosystems