In the US alone, the number of installed smart meters has approximately quadrupled over the past 5 years. These meters are collectively generating more than 1 billion usage data points every day — enabling vital data insights for utilities and their customers.
The smart grid is growing fast in other regions, too. European Union member states have collectively invested around 4 billion USD across hundreds of smart grid projects over the past decade. The UK is targeting nationwide smart meter coverage by 2020. And Japan’s largest electric company is working to equip all 27 million of its customers with advanced meters.
As projects like these unfold, smart meters are becoming the industry norm. But some regions are farther ahead than others. The Edison Electric Institute predicts that by 2015, only around half of US states will have smart meter penetration rates higher than 50 percent.