Smart Meters: Optimizing Energy Consumption
According to a study on the Hungarian energy market, Huawei Technologies Hungary has estimated that between 150,000-180,000 smart meters could be installed in Hungary. This number has the potential to grow to 4.7 million by 2030 if the Hungarian market follows Western European trends.
The study also indicates that smart meters and related devices have the potential to significantly contribute to optimizing energy consumption at the level of small consumers, with households potentially saving up to 15 percent in energy costs. These devices monitor consumption patterns and can provide tailored recommendations for changes, such as switching off unnecessary lights or turning down the heating.
One of the barriers to the deployment of residential energy storage in Hungary is the high investment cost. Public incentives, such as subsidies like the Solar Energy Plus Program, seek to address this issue. The Solar Energy Plus Program is a comprehensive plan designed to provide financial support to households for the installation of solar panels and energy storage systems.
PwC Hungary estimates that by 2032, there could be as many as 106,000 households in Hungary equipped with batteries, representing 21-22% of all residential solar systems.
In addition to households, businesses can also benefit from solar PV systems, energy storage, and digitization solutions to manage energy more efficiently. By using smart meters and utility sub-meters, companies can accurately monitor and tailor their energy use, while a more detailed knowledge of consumption helps identify energy saving opportunities.
Huawei Hungary has presented a paper entitled “Transforming Energy Market 2023-2030,” which examines Hungary’s key energy challenges and opportunities from the perspective of households, small and large consumers, and electricity transmission and distribution network operators.
The Solar Energy Plus Program, as well as the potential for the expansion of smart meters and energy storage systems, highlights Hungary’s commitment to promoting the use of green energy and optimizing energy consumption. These initiatives have the potential to contribute to a more sustainable and environmentally friendly energy sector in Hungary.
