Earlier, the cost of producing water was not expensive and home owners and businesses were not charged the entire cost in their bills and to cover that cost and whenever there is increase in expenses, the funds were collected by issuing the bonds or taxes were increased. Another possibility was the delay in the maintenance of the equipment by those utilities that are with the publically elected boards. The reason behind it is that the hike in taxes would not be appreciated by the voters.
Now the infrastructure is being changed and updated and those areas where the water is scarce due to the drought, more funds are needed, that is why the rates of the water utilities are also rising. Taking into consideration the residential water rates, we would come to know that the rates of utilities in 30 main cities of the United States have jumped higher than the cost of all the expenses that are borne by the households.
Gary Wong who is a principal at OSIsoft, demonstrated the value of water that is being shifted in the public. He said that the water was not given value earlier in the past but now as the situation is not the same and more attention is being given by the people as there is a hike in the prices or the scarcity of the water increases.
In the water industry, the companies which have the smart technologies and can resolve the issue of leakage of this excessive amount, they can take the advantage of this increasing cost of water. If they provide the solution for inaccurate billing and make the network efficient, they can capture the market that is growing at a very fast rate.
The monitoring technology of water is not a new field. Investments have already been done in this field by the companies related to the industries like mining, chipmakers, and producers of soft drinks. Efforts are being done by them to find out the ways of increasing the availability of water and elimination of the waste from that.
The thing which has not been before is that the small and medium companies have now recognized the significance of the water tech. with the rise in the cost of water, small and medium sized companies have the opportunity for their financial growth by making investments in the monitoring technologies.
A company named Apana has been taking benefit from the opportunity. The company has the business of making sensors, data analytics software and telemetry equipment. Apana is the maker of Costco’s software and sensors and now Apana is going to relaunch it with the new name and people will also be able to know that how the products of Costco had been used to reduce the use of water.