An estimated 150-180,000 smart meters could be installed in Hungary which could grow to 4.7 million by 2030 if the Hungarian market follows Western European trends, Huawei Technologies Hungary said, based on a study on the challenges and opportunities of the Hungarian energy market.
According to the summary, smart meters and related devices can significantly contribute to optimizing energy consumption at the level of small consumers, with households saving up to 15 percent.
These devices monitor consumption patterns and can provide tailored recommendations for changes, such as switching off unnecessary lights or turning down the heating.
The communication points out that Hungary’s residential storage capacity for green energy is still marginal and that one of the barriers to its deployment is the high investment cost. Therefore, the pace of expansion of residential energy storage depends primarily on public incentives, such as subsidies like the Solar Energy Plus Program, which is now being launched.
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. The government is launching the program in early 2024, to encourage the installation of modern solar panels and storage systems to further promote the use of green energy. The HUF 75 billion (EUR 199 million) tender will provide non-refundable support to families.
PwC Hungary, a consultancy firm, 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.
A further incentive could be if households could sell the energy produced, speeding up the payback of the solar system, Huawei added.
Solar PV systems, energy storage, and digitization solutions for businesses can also greatly help them manage energy more efficiently. By using smart meters and utility sub-meters, companies can accurately monitor and tailor their energy use, and a more detailed knowledge of consumption helps identify energy-saving opportunities.
