Smart meters grow to millions

ABI Research reported that smart meters in North America and Europe will increase from 76 million in 2009 to 212 million in 2015, boosted by compliant government rules.

Focusing on trends in global connectivity and other emerging technologies, and with headquarters in New York, the market research group said that in U.S., smart grid was financed by $3.4 billion economic stimulus.

ABI Research executive Sam Lucero said that the Energy Independence and Security Act 2007 funds facilitation of smart grid technology adoption for the states.

Both local and national governments have backed up smart electricity meter programs because of its ability to bring energy efficiency,.

Electric meters are equipped with advanced features such as two-way communication between the meter and the utility, which enables better control of electric user over their electric use.

Smart meters also have its share of problems. California customers have complained about overcharging to PG&E.

Despite this, the world still continues to support smart meter. The report said that the European Union hopes to turn all electric meters smart by 2022 while China, on the other hand, aims for a colossal upgrade to smart meters. Mr. Lucero said that China aims for approximately 300 million replacements of smart meters.