An Agent Based Simulation Of Smart Metering Technology Adoption

Tao Zhang and William Nuttall

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: Based on the classic behavioural theory “the Theory of Planned Behaviour”, we develop an agent-based model to simulate the diffusion of smart metering technology in the electricity market. We simulate the emergent adoption of smart metering technology under different management strategies and economic regulations. Our research results show that in terms of boosting the take-off of smart meters in the electricity market, choosing the initial users on a random and geographically dispersed basis and encouraging meter competition between energy suppliers can be two very effective strategies. We also observe an “S-curve” diffusion of smart metering technology and a “lock-in” effect in the model. The research results provide us with insights as to effective policies and strategies for the roll-out of smart metering technology in the electricity market.

Keywords: Agent-based simulation; smart metering technology; the Theory of Planned Behaviour; technology diffusion. (search for similar items in EconPapers)
JEL-codes: C63 C73 D78 O33 (search for similar items in EconPapers)
Pages: 24
Date: 2007-09
New Economics Papers: this item is included in nep-cbe, nep-gth and nep-net
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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http://www.electricitypolicy.org.uk/pubs/wp/eprg0727.pdf Working Paper Version (application/pdf)

Related works:
Working Paper: An Agent Based Simulation of Smart Metering Technology Adoption (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:0760

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