Can We Save 2% of the World's Water Supply?

Water damage is costly, a waste of resources, and problematic for the people and businesses affected. This is because buildings have to be fixed and often are unusable for this period of time. For example, if water leaks from the 25th floor, it affects each floor below. A burst pipe is estimated to cost around 1,300 dollars to fix, and a “3mm crack in a pipe wastes 946 liters of water per day” (CNN). These numbers illustrate the inconvenience of water damage. The invention of an intelligent water meter now allows for a solution to this issue. The water meter is capable of monitoring possible leaks and sending out a notification; it responds by shutting off the water before the damage is done. It “understands the flow of water through pipes” and knows what the normal flow of water is. This is useful for construction, but can also be implemented in any building and work with existing equipment. It also will lead to water savings, possibly around 2% of the world's water, simply by saving half of industry water consumption. This is important because water is a necessity but also a limited resource. WINT, the company that sells the water monitor, has target markets in the U.S, U.K., and Europe.

The development of this technology could be invaluable when thinking about climate change as well. As more natural disasters are taking place around the world, leaking and flooding is a valid possibility, as well as having no water. I am thinking about the power outages in Texas due to the intense winter storm that struck in Mid-February. When this occurred “The lack of power to about a quarter of the state (has) created a widespread emergency, with families huddling in homes or cars without heat, burst water pipes, failing water systems and gasoline shortages.” (Levenson, et al, CNN). Many Texans are still without water. If the water monitor was effective and implemented in the most important buildings it could have saved families and workplaces, such as hospitals, from disaster.

With relation to marketing, the invention of the water monitor relates to Maslow’s hierarchy of needs, and it meets physiological needs as well as safety needs. There is great potential growth for this product in new markets as well. For now, most consumers might consider it an unsought product like insurance, but it would provide many benefits to those who invest. Those who know the value of the product in terms of potential savings of water and costs would consider it a specialty product.

How an intelligent water meter can help the planet -- and save money - cnn video. (2021, March 15). Retrieved March 17, 2021, from https://www.cnn.com/videos/tech/2021/03/09/wint-intelligent-water-meter-spc-intl.cnn/video/playlists/business-environment/

Levenson, E., & Holcombe, M. (2021, February 18). Texas grid was 'minutes' from Failing, lawmaker says. Retrieved March 17, 2021, from https://www.cnn.com/2021/02/17/weather/texas-winter-storm-wednesday/index.htm