The Edison Institute for Electric Innovation’s 2023 smart meters brief projects 128 million smart meters installed in US households and businesses by the end of 2023.
This corresponds to penetration of approximately 80%, up from the 114 million smart meters with 73% penetration in 2021.
Further, the projection for 2025 is 135 million smart meters installed, approaching 85% penetration.
The Institute points to smart meters continuing to be an important technology for the electric power industry, as they enable more rapid two way communications between electric companies and their customers, enhance grid resiliency and provide new services for customers.
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For example, smart meter data enables expanded pricing programmes and demand flexibility for residential customers.
Data helps customers better understand their energy usage and participate in time-varying pricing programmes.
In 2022, more than 15 million homes and businesses participated in such programmes, the Institute says.
Despite the high overall penetration, there remain marked differences between the states. For the 2021 data, 11 states are seen as having a penetration of 15-50% and five states – Hawaii, Massachusetts, New Jersey, New Mexico and Utah – had a penetration of less than 15%.
The Institute doesn’t indicate the source of its data but it is broadly in line with other sources.
Berg Insight’s 2022 North America update records the smart meter installed base in the US at 116.2 million in 2021. It projects the penetration to reach 93% in 2027, i.e. between 148 million and 149 million smart meters.
The report notes that the increasing penetration in the US is being driven primarily by large investor-owned utility projects.
However, in terms of actual shipments of smart meters, second wave rollouts for early adopters are ramping up and are expected to account for about three-quarters of the annual volumes by 2027.
From a supplier perspective, the Berg Insight report notes the North American market, i.e. including Canada, is dominated by a few players including Itron and Landis+Gyr with a 32% market share each, Aclara with 23% and Honeywell and Sensus the majority of the remainder.
