In all probability you will have heard talk of new smart meters being installed in homes, which have the ability to relay information back to the electrical company with regards to power consumption. Unlike the old regular meters, these new smart meters can identify power consumption in detail, and it is hoped that this may result in the average person using less electricity. Let’s go ahead and take a look at what the smart meters really mean:

Unlike the old traditional meters which were only able to track the amount of energy consumed, the new smart meters will be able to measure not only how much electricity is being used, but also when it is used. It is hoped that this will allow electricity companies to set different rates according to the times when the most energy is being consumed and as such, it may help to encourage people to use electricity during off peak hours in order to take advantage of reduced rates.

Interestingly enough, the main electricity company in Italy is already providing electricity to more than 27 million customers via new electronic smart meters. These meters are not only able to measure power consumption, but they’re also capable of managing it. Furthermore, being solid state, they communicate via low voltage power lines which make it possible for the electric company to detect any outages or unauthorized use of power. They also make it possible for the electric company to turn the electricity supply on or off from a remote location.

Smart meters have also been implemented in Turkey, Canada, New Zealand, the Netherlands, Scandinavia and Australia. In the United states, a number of jurisdictions are actively pursuing smart meter technology, such as Northen California, Los Angeles, and Austin, Texas. Implementation is imminent in the UK and in Ireland. Energy experts have noted that it’s important for meters to allow homeowners to make choices such as buying their power when it’s cheapest and selling wind turbine and solar panel electricity to utilities when they choose to.

Of course for smart meters to function properly, they need to be able to communicate information to a central command, and this is without doubt the biggest problem yet encountered. However, various proposals to have been put forth with regards to this issue, some of which suggest the use of cellular networks, power line communications, and even radio.

Just recently, the U.S. president openly called for 3,000 miles of transmission lines and a total of 40 million smart meters to be installed, making it the most ambitious upgrade the country’s electrical grid has seen in the last 40 years. In fact, many people believe that it will have such a significant influence on society, that it could be compared to the Internet. Furthermore, because this project promises to be able to make use of power which originates from clean power projects, it has received a great deal of support. Additionally, it is widely accepted that such a project will help to curb the need to for additional power production centers.

Smart meters can cost anywhere from a hundred to three hundred dollars to install - each. The amount depends on the quality of the smart meter in question, but it will be a significant investment. However, venture capitalists have been investing in this technology recently, so it may be possible. Soon, you could be choosing when you use power based on the price, and possibly saving money and energy.

Tags: Home Business