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Energy efficiency & ‘Big Data’

Thursday 31st May 2012

Two interesting statistics appeared in the news this week. Firstly, SAP, talking about its new High Speed Analytics for Sustainability solution - designed to help utility companies collect and analyse smart meter readings - highlighted a startling figure. Following the switch to smart meters, meter readings will grow exponentially from 75 million readings a year to 120 billion, a 1,600 fold increase.

This is truly astonishing and shows just how much data smart meters will be producing - remote meter reading is after all just the simplest function of smart meters. This is also just the data that will be sent back to utility companies. There will also be a raft of new information available to consumers.

Factoring all of these things in it is easy to see why data analysis tools are going to be so important to the success of smart meters and therefore the success of improving energy efficiency in people’s homes.

The second figure was mentioned by Peter Boyd, appointed as expert chair of the Energy Efficiency Deployment Office (EEDO) on Monday. He stated: “Energy efficiency is not only central to tackling dangerous climate change but it is good for business … this [will] be a multi-billion dollar global market opportunity.”

Again this is a hugely significant figure. It also highlights how energy efficiency is rising up the political agenda to be spoken about in the same terms as renewable energy. It also explains why we have seen so much news about investment in the energy efficiency sector and major new products and services launched or soon to be launched.

Taken together however, and what you get is a huge opportunity for technology vendors and innovators to make a significant impact. ‘Big Data’ and the associated analytics will be at the centre of a multi-billion dollar growth industry. Innovation must come to the fore to make the most of these two factors, now is the time for technology vendors to step up to the plate.

 

- Ends -

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