Itron ITRI has unveiled the Grid Edge Essentials, a leading-edge, pre-integrated solution designed to address the problems utilities currently face at the grid edge. This transformative solution provides end-to-end distribution grid visibility, aids utilities in integrating renewable energy resources, improves consumer engagement and paves the way for more resilient and efficient grid operations.

The energy sector is undergoing significant changes, driven by increasing electrification and dependency on renewable energy. Electric utilities are plagued by the increasing complexities introduced by Distributed Energy Resources (DERs), harsh weather conditions, transportation electrification and the growing demand for data centers. Also, many utilities have aging infrastructure that struggles to keep up with modern energy demands. 

Grid Edge Essentials is an innovative and comprehensive solution that addresses these pressing issues. Designed to be easy to deploy, integrate and operate, it offers utilities everything they need to modernize grid operations while enhancing customer service. This all-in-one solution aids utilities in optimizing their grid infrastructure, allowing them to increase grid capacity by as much as 20% through the intelligent use of existing assets.

Major Benefits of ITRI’s Grid Edge Essentials

Grid Edge Essentials offers a wide range of benefits, empowering utilities to transform their businesses for the future. As renewable energy resources grow, it provides real-time, autonomous visibility and standardized control of DERs. This allows utilities to better manage the impacts of renewable energy on the low-voltage grid, ensuring that they can integrate more renewables while maintaining reliability.

Extreme weather events are becoming more frequent and severe, making grid resiliency a top priority. Grid Edge Essentials improves resiliency by providing precise location awareness through advanced feeder mapping technologies. Utilities can better manage their assets, respond faster to outages and ensure reliable service. With tools that offer more accurate load disaggregation and real-time insights, utilities can empower their customers to make smarter energy choices. 

As industries across the globe are making efforts to reduce their carbon footprint, utilities are searching for ways to integrate renewables and reduce emissions. Grid Edge Essentials supports carbon reduction by optimizing voltage levels, deferring expensive grid upgrades and reducing the need for costly peak power generation. In addition, utilities can lower their operating costs with Grid Edge Essentials by streamlining operations, improving preventive maintenance and ensuring more predictable low-voltage operations.

Itron’s DataHub tool provides secure and smooth access to high-fidelity data across the utility’s enterprise. It allows utilities to use real-time, curated data products and lifecycle data management, resulting in better decision-making and operational efficiencies. This data can be shared with authorized third-party developers, allowing them to create new applications using Itron’s DI developer program and Application programming interfaces. This fosters innovation and ensures that utilities can easily integrate new technologies and services as they become available.

ITRI’s Intelligent Edge Operating System

The state-of-the-art solution is already integrated with multiple products - DI Quick Start, Operations Optimizer Essentials, Consumer Engagement, Grid Edge Optimizer solution delivering DI applications, Software-as-a-Service Hosting, Delivery Services and Intelligent Grid Edge Operation System. Itron’s Intelligent Edge Operating System is a real-time, high-performance platform designed to manage electricity, gas and water devices. It provides a secure, scalable data management solution that reduces operational costs and simplifies integrations.

The operating system supports seamless integration with Itron’s existing products, such as UtilityIQ, SensorIQ, OpenWay Collection Manager and Temetra, and ensures compatibility with a wide range of systems using standard protocols like the Common Information Model. This modular architecture enables utilities to leverage past investments while building for the future.

The initial configuration of Grid Edge Essentials for Investor-Owned Utilities in North America will be available from December 2024. This will be followed by configurations for international markets, cooperative utilities and large municipal utilities in 2025, expanding the reach of the solution.

Will Advancements in Grid Infrastructure Aid ITRI’s Stock?

By integrating advanced technologies, providing real-time data access and fostering innovation, Itron’s Grid Edge Essentials is set to play a key role in shaping the future of utility management and speeding up the energy transition process. As utilities continue to implement more of ITRI’s top-tier solutions, the company is likely to generate incremental revenues that fuel long-term growth prospects. Healthy top-line performance is likely to propel the stock trajectory.

ITRI’s Zacks Rank and Stock Price Performance

ITRI currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 81% in the past year compared with the  sub-industry’s growth of 16.8%.

Image Source: Zacks Investment Research

Other Stocks to Consider

Some other top-ranked stocks from the broader technology space are Seagate Technology Holdings plc STX, OptimizeRx Corporation OPRX and SS&C Technologies Holdings, Inc. SSNC. Both STX & OPRX presently sport a Zacks Rank #1, whereas SSNC carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Seagate Technology delivered an earnings surprise of 80.9%, on average, in three of the trailing four quarters. In the last reported quarter, STX pulled off an earnings surprise of 40%. The Zacks Consensus Estimate for its earnings has increased 18% to $7.41 in the past 60 days.

OptimizeRx delivered an earnings surprise of 159.5%, on average, in three of the trailing four quarters. In the last reported quarter, OPRX pulled off an earnings surprise of 128.6%. The Zacks Consensus Estimate for its earnings has increased 38.5% to 36 cents in the past 60 days.

SS&C Technologies Holdings delivered an earnings surprise of 3.1%, on average, in the trailing four quarters. In the last reported quarter, SSNC pulled off an earnings surprise of 4.9%. The Zacks Consensus Estimate for its earnings is pegged at $5.18.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Itron, Inc. (ITRI) : Free Stock Analysis Report

Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report

OptimizeRx Corp. (OPRX) : Free Stock Analysis Report

SS&C Technologies Holdings, Inc. (SSNC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research