Residential smart metering needs to be made cheaper for more people in the UK to take up the option, it has been suggested.
Recently-published figures from Datamonitor have revealed that the global market for smart metering is set to increase by 350 per cent over the coming years, reaching $5.7 billion (£3.54 billion) by 2015.
However, the study also showed that deploying the technology in the UK in order to keep energy bills down is currently more expensive than anywhere else in the world.
Jon Lane, energy director at Datamonitor, said: "The UK solution looks very expensive compared to, say, France where ERDF expects to drive down the cost of its meters to €32-35 (£27-29). The equivalent figure for the UK's meters is around €65.
"These higher costs are only acceptable as the government has used carbon savings and an anticipated reduction in demand in its calculations. If consumers don't reduce usage then the UK system becomes an expensive white elephant
Recently-published figures from Datamonitor have revealed that the global market for smart metering is set to increase by 350 per cent over the coming years, reaching $5.7 billion (£3.54 billion) by 2015.
However, the study also showed that deploying the technology in the UK in order to keep energy bills down is currently more expensive than anywhere else in the world.
Jon Lane, energy director at Datamonitor, said: "The UK solution looks very expensive compared to, say, France where ERDF expects to drive down the cost of its meters to €32-35 (£27-29). The equivalent figure for the UK's meters is around €65.
"These higher costs are only acceptable as the government has used carbon savings and an anticipated reduction in demand in its calculations. If consumers don't reduce usage then the UK system becomes an expensive white elephant
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