Smart meters: market update and growth outlook

With a target to reduce AT&C losses to 15% and improve overall financial performance of DISCOMs, the Indian government is pushing for universal rollout of smart meters. However, penetration remains very low (less than 1%) despite several government initiatives. Concerted measures are required to streamline financing, tendering and installation process to achieve the latest 270 million installation target by 2023.

Recent government steps to centralise procurement and provide integrated financing solutions to DISCOMs have shown encouraging results. The market has attracted attention of leading technology providers and investors.

Figure: Status of smart meter installation as of November 2020

This report takes stock of various policies and schemes implemented by the government, current penetration across different states, benefits of smart meters, procurement process and market shares of leading meter suppliers. We also assess reasons for slow deployment and growth outlook for the market.

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