In the Financial Times, Guidehouse Insights discusses the savings potential from network connectivity
When it comes to smart city development, it is often the most revolutionary technology that attracts the greatest attention. While some technology hype can lead to boom-and-bust experiences of quickly oversaturated markets, the most effective smart city success can often be low key. Sometimes, it may simply mean widening access to services or better connecting residents to the benefits of the solution.
“Network connectivity, so street lights can be controlled centrally, saves roughly 10 to 20 percent of costs,” said Woods. “Much of this comes from maintenance savings — teams need no longer to scour the streets for faulty lamps — as well as the benefits of centralised controls for one-off projects, such as major sporting events.”
A related low-key success story is LED street lighting. Following the decade-long conversion of its street lamp networks to LED, the city of Los Angeles reports cost savings of $10 million per year.
Many societal and financial gains in smart city development come from applying existing technology in innovative ways rather than looking to employ the latest ones.
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