Verizon has identified a niche market, but it is definitely a big niche – utility companies. In an announcement today, Verizon is offering a new Grid Wide Utility Solutions platform as an Internet of Things (IoT) solution to help utility companies modernize their service delivery grids. The new service offers smart metering, demand response, meter data management and distribution monitoring and control.
Over the years, utility companies have been working to modernize their energy grids and obtain efficiencies by building out a variety of automated communication networks for their infrastructure. For example, utility companies have moved from physical meters that required an employee taking a reading off of to units that could be read via radio waves as a truck rode by to systems that report readings to a remote location. Upgrading utility infrastructure for these capabilities can be expensive and often is beyond the ability of a utility to afford.
This is where Verizon is stepping in as their network is now built out enough to serve as the communication network for connected meters. More importantly, access to these network services can be accomplished cheaper than what it would cost a utility company to try to do on their own.
Verizon’s Jay Olearin, director of business development for energy and utilities, says:
“What is really cool about our smart grid technology – and very disruptive – is that we have pre-built Grid Wide as an as-a-service model, which removes the complexities, time and cost for utilities with having to build their own solution. As a result, utilities don’t have to swap out their entire meter population, they can start to solve the problem areas right now on a per-month, per-meter cost basis.”
For now Verizon is focusing on electric utility companies, but Olearin says they plan to expand to gas and water meter solutions in the coming months.
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source: Verizon (PR)
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