February 29, 2016
As customers become more comfortable with new technology — and want more from it — expectations for advanced submetering solutions are high. A recent study from Navigant Research confirms submetering as “a crucial component” for getting actionable billing and energy management data.
"Electricity submeters are critical data acquisition devices for customers interested in billing allocation or energy management solutions...Submetering is a crucial component for attaining the granular energy consumption data that enables energy management software and services to generate actionable insights and facility and organizational changes.”
This is good news for building owners and managers who have, or plan to install, standards-based submetering solutions that integrate into existing energy management, tenant billing, and building automation systems.
Clearly the trend towards submetering systems that can provide such integration while meeting increasingly strict jurisdictional policies and regulatory mandates is on the rise. According to Navigant Research, global revenue from electric submeters is expected to grow from $949.7 million in 2015 to $2.5 billion by 2024.
Gord Echlin, VP Sales and Marketing, Triacta Power Solutions