Honeywell International Inc HON and Tata Power Delhi Distribution (TPDDL) recently deployed a smart grid automated demand response (ADR) project to improve energy reliability for commercial and industrial facilities in India.
With this tie up, TPDDL will be able to link more than 160 buildings, and thereby expect reductions in energy usage. Leveraging Honeywell’s technology, the grid operators are likely to build a resource-efficient, environmentally friendly grid. The collective decrease in consumption gives the grid operator the required tools to balance supply and demand and thus avoid power disruptions. The commercial and industrial customers can thus minimize their energy usage and curtail their costs.
By using Honeywell's Akuacom software as a service (SaaS) and smart meters, the building systems can automatically apply the load-shed measures when the grid is overburdened. The broad adoption of technology if implemented in India in all buildings is likely to minimize electricity consumption by approximately 7%. The project will give TPDDL the ability to reduce energy supply by approximately 11.5 megawatts during high demand. This strategic tie up is a way to find new opportunities to extend ADR to other customers.
Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Better-ranked stocks from the same space include Rollins Inc ROL, Hitachi Ltd. HTHIY and Shanghai Industrial Holdings Limited SGHIY. Each of these stocks holds a Zacks Rank #2 (Buy).
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