According to a local publication, the Ministry of Power is planning to subsidies advanced meters to reduce smart meters price under efforts to ensure all consumers have access to real time data regarding the way they use energy.
The government will subsidise smart meters for consumers to be able to buy a single unit for below Rs1,000 ($15) from the current Rs15,000 ($234) per unit. The smart meters will also be manufactured locally to reduce their costs.
The announcement comes as funding is one of the factors hindering the growth of the country’s smart meters market.
The use of smart meters has been identified by the Indian government as a measure which would help the Asian country improve management of its energy resources, improve consumer energy efficiency and secure energy supply to meet growing power demand due resulting from rapid increases in population and economic activities.
In addition, smart meters will help utility firms to reduce non-revenue electricity by combating energy theft. The system would also help reduce operational costs incurred in manual meter reading.
For consumers, the technology will ensure they are accurately billed since use will eliminate estimated billing.
Under efforts to increase consumer energy efficiency, the Indian government is engaging in a number of initiatives such the implementation of the Ujala scheme in which consumers are supplied with affordable and energy efficient appliances such LED lights, fans and a wide range of heating and cooling home and building appliances.
To ensure consumers of all income status have access to LED bulbs, the Indian government has managed to have the appliances manufactured locally in addition to subsidizing them. The development has led to a reduction in the costs of LED bulbs from Rs300 ($4,68) to Rs40 ($0,62).
In addition to reducing the costs of energy efficient appliances, the Indian government is rolling out a number of initiatives to speed up the deployment of the appliances.
This week, the Ministry of Power collaborated with the Ministry of Petroleum and Natural Gas to help consumers improve their energy efficiency.
The collaboration of the two ministries allows the Energy Efficiency Services Limited (EESL) which falls under the ministry of Power and the Oil Marketing Companies (OMCs) of the Ministry of Natural Gas to jointly improve consumer energy efficiency savings under the Ujala scheme. Read more…