American water utilities spent some $2.4 billion on smart metering solutions and will continue to invest heavily in advanced measuring technologies and products, according to a report based on findings released by research company Bloomberg New Energy Finance (BNEF).
The report indicates that US utilities are expected to increase their investments in smart meters and infrastructure to $2 billion until 2020, almost matching all their previous investments.
“The report is in line with the market trends Arad identifies. The expanding usage of smart meters is part of general trend to improve overall water measurement,” said Rami Ziv, Arad’s VP International Sales & Marketing.
“We see growing demand from utilities and water companies for comprehensive solutions that allow better monitoring, which translates into lower expanses and improved customer satisfaction,” he added.
Maxime Serrano Bardisa, water analyst at BNEF, said that investment in leak-finding devices reached an all-time high in 2010, totaling some $395 million as water companies took advantage of stimulus funding allocated for clean-energy and water projects.
Serrano Bardisa added that while investments in the US were expected to increase, BNEF predicted that emerging markets would lower investments until 2015 before rebounding on increasing water prices, as the first meters rolled out 15 years ago would need replacing.
The report further indicated that some $1.7 billion had been allocated for investments in infrastructure by the $7.2 billion stimulus plan presented in 2009 by the US Environmental Protection Agency. These investments include the upgrading and installation of new smart water meters and measuring solutions.