A smart meter is a simple electronic device which records data like consumption of electricity, voltage levels, electrical current, and kilowatt-hours (KWh) per month. Smart Meters communicate electricity usage information to the user for better clarity of usage behavior, and electricity providers for system billing and customer billing. There are various advantages of installing this kind of device in homes and commercial establishments:
It helps people save on monthly electricity bills. The Smart Meter can be used to record consumption habits of an individual or household and help them decide how to conserve electricity and cut their monthly bills. This is one way to receive financial incentives from utility companies.
A Smart Meter can also provide useful information about the amount of electricity used by vehicles in a particular area. A Vehicle Energy Assessment (VEA) can be performed with the help of this device. It helps customers reduce the consumption of electricity by vehicles, thus reducing their monthly fuel bills. An additional benefit is that this device provides a record of average power consumption over a period of time and thus can be used to get an accurate indication of an individual’s electricity usage patterns.
Smart Meters are capable of measuring both electricity and gas consumption. Some devices also include an integrated gas and electricity meter, which can be calibrated and use the existing meters for both gas and electricity measurements. This allows one to take advantage of both gas and electricity prices.
Some Smart Meters have the capability of automatically adjusting their meter values to ensure that they are accurate and up-to-date. These devices have the ability to measure solar, thermal, electrical and geographic sources of power supply. They can also detect low or no current coming from an unoccupied source and can therefore reduce the need for expensive and large power receptacles. As an added advantage, some devices can also be set to remind a customer when a tariff has been exceeded, and thus reduce unnecessary wastage of electricity.
Smart Meters have been found to be beneficial in many areas of a person’s life. For instance, the elderly can use this device to monitor their health conditions. The elderly can use this device to detect whether they are suffering from ill health conditions, thus enabling them to seek necessary medical attention. In addition to this, the elderly can use this device to monitor their food intake, thus helping them to maintain good nutritional levels. A housewife can also use this device to monitor her family’s expenditure, enabling her to save on her grocery budget.