Electricity meters could soon be a thing of the past in Europe following the announcement by the European Union (EU) that they are aiming to replace at least 80 per cent of electricity meters with smart alternatives in the next four years. Consulting firm, GlobalData, say if the change does go ahead European countries could see a drop in emissions by up to nine percent.
GlobalData’s latest report states that the Security of Electricity Supply directive kick-started the EU’s drive towards smart metering, declaring that member states should take appropriate measures to safeguard the balance between electricity demand and generation capacity availability.
Following this, the EU energy package came into force in September 2009, aimed at producing an integrated Europe-wide energy market that would encourage the adoption of smart grid technology.
Harshavardhan Reddy Nagatham, Analyst covering Power at GlobalData said: “Smart grids facilitate the incorporation of renewable energy sources into the power system in a stable manner. This will help many countries to achieve their targets and meet domestic power requirements using clean power sources.
“They will also allow customers to purchase cleaner power with lower carbon emissions and receive data on when it is least expensive to use electricity, enabling them to adjust their usage accordingly. This will improve the utilisation of existing power plants and reduce the amount of fossil fuel capacity required, limiting harmful emissions.”
A number of social and economic benefits will also come about with the introduction of smart grids, such as creating a huge number of new jobs and new electricity markets. In 2008, 280,000 new jobs were created in the US alone.
Nagatham added: “Stakeholders will be able to create niche markets using distributed generation, storage, demand response and other programs and services, which will lead to new opportunities for revenue generation. In the long term, with the implementation of advanced meter infrastructure, demand response programs and customer side systems, savings through electricity systems will increase, benefitting stakeholders.”
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years