Verizon Launches Energy-As-A-Service in U.S.

Verizon Launches Energy-As-A-Service in U.S.

Energy CIO Insights | Friday, November 30, 2018

FREMONT, CA: Verizon recently announced the release of Grid Wide Utility Solutions, which would offer utility companies the opportunity to transform the existing grids to smart grids. Grid Wide offers energy companies in U.S. an integrated solution for smart metering, demand response analysis, meter data management and distribution monitoring and control.

With an estimated 147 million active electric meters in U.S., Verizon’s Grid Wide offers better grid management and power distribution; thereby increasing energy utilization and reducing energy wastage. This will eventually cut down energy cost and demand contributing towards a greener world.

The solution comes equipped with a wide-range of cloud based applications intended to assist utility companies to generate increased revenue and operating cost, raise efficiency levels and utilization through smart distribution as well as improve customer satisfaction.

Jay Olearian, Director of Business Development for Energy and Utilities, loT Connected Solutions at Verizon 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,”  

Energy-As-A-Service model of Grid Wide helps the utility companies understand the quality of electricity that is being delivered to the customers besides being able to monitor smart meters remotely. Smart meters at customer premises will send its data over Verizon’s country wide wireless network to Verizon’s cloud environment via their private network.

The solution’s pre-configured data and analytics dashboards provide timely information regarding outages and abnormal usage patterns while ensuring the utilities to drive revenue simultaneously.

In another instance, Verizon extends its partnership with the largest telecom service provider of Switzerland Swisscom for a period of 3 years in an attempt to expand its global presence.

The partnership is expected to be mutually beneficial as Swisscom customers with multinational operations can seamlessly access Verizon’s expansive global network and solutions while Verizon’s customers with operation in the Swiss market will enjoy their extensive local market expertise, dense infrastructure and customer service organization.

Verizon and Swisscom are also planning to leverage their joint capabilities to deliver innovative next-generation solutions such as Software Defined Network (SDN) and Hybrid networks to customers, enabling enterprises to redefine their network infrastructure to be more responsive to their own users, customers and market opportunities.  

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