The deployment of smart meters combined with the growth of cloud computing infrastructure has created opportunities to build business models around the volume of emerging energy data. Estimates indicate that when smart meters are fully deployed, they will generate 1,000 petabytes of data a year, about five times the amount of data on AT&T’s network.
That said, challenges remain in terms of dealing with utilities as business customers, getting consumers interested in their own energy behavior, standardizing protocols for effective device-to-device communication, and providing a compelling ROI case beyond just energy efficiency. Energy efficiency plays that use data to solve customer problems and leverage decades of software development and advances in big data will attract investment dollars.
To read the full report, go to GigaOM Pro (subscription required).