Smart meter solution placed at the edge to generate demand-side insights

Companies GridX and Sense have announced a partnership to translate smart meter data into insights for both customers and the grid.

The two have agreed to develop an integrated solution to develop insights into energy use and costs in near real time.

GridX, which works alongside utilities and energy suppliers, offers up an enterprise rate platform; Sense uses machine learning technology to provide real-time insights on device behaviour; both are being backed in the partnership by Energy Impact Partners, a strategic investment firm.

“The evolution of smart meters into a grid edge application platform enables real-time device level intelligence. This is instrumental in understanding how consumers are using energy and Sense is…providing this intelligence through embedded software in the latest generation of smart meters,” stated GridX CEO Chris Black in a press release issued Thursday.

“Increasingly, the problem isn’t how much energy we all use, it’s when we use it. The price of energy changes radically throughout the day, so understanding where you are using energy is no longer enough…you must understand how much it costs when you use it.”

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A joint press release issued by the two companies points to Guidehouse research that forecasts the global penetration of smart meters to grow to 56% by the end of 2028.

However, the partners states how utilities have struggled to make sense of and capitalise on the data these meters have provided.

With next-gen meters being deployed, they add how using grid edge intelligence to identify where and when energy is consumed in the home, and applying real-time pricing signals, it’s possible to unlock and reveal the best clean energy choices for consumers. This would help stabilise the grid, save customers money and reduce carbon footprint.

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Mike Phillips, CEO of Sense added how, “by adding a scalable solution for dynamic pricing information, we can now encourage even greater consumer action – including the adoption of automated controls of key loads, helping us achieve our decarbonisation goals and ensuring everyone is enrolled in the optimal rate.

“This partnership with GridX brings together the…combination of solutions that will change the way utilities optimise the grid and help people better use energy in their homes.”