The solar leasing model has worked so well and is so popular that it's being adopted by companies in small wind, geothermal, and fuel cells. Now Silver Spring Networks hopes to find success with a smart metering-as-a-service model.
Silver Spring Networks (Nasdaq: SSNI), which provides a platform that integrates smart energy networks, is partnering with New Zealand-based Metrix, a metering service provider, to bring smart metering-as-a-service to retail energy providers. Metrix has installed 330,000 smart meters in the greater Auckland area.
New Zealand-based Counties Power will be the first to deploy the service to its 37,000 customers.
"Silver Spring's Gen4 technology is a proven platform and enables our retail customers to deliver comprehensive energy information to consumers so they can better understand their usage and, in turn, control their bills," says Tim O'Halloran, General Manager, Metrix.
The platform will also improve the reliability and performance of County's network, enable faster detection of outages, restore power faster and deliver better power quality to its customers. On the demand side, Counties Power's customers will be able to take greater control of their electricity consumption and their bills. Using the network will minimize future network capital costs and, therefore, price rises over the next decade, says O'Halloran.
Silver Spring's international platform currently has 17 million enabled devices, connecting utilities to homes and businesses. Utilities benefit from operational efficiencies, the grid becomes more reliable and individuals are empowered to monitor and manage their energy consumption.
Customers include major utilities around the globe such as Baltimore Gas & Electric, Commonwealth Edison, Florida Power & Light, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power.
Here is Silver Spring's website: