Over the past several years, utility companies have been slowly rolling out smart electricity meters. They are a significant technological upgrade from the old analog electricity meter and actually come with benefits to both utility companies and homeowners.
What is an Electric Smart Meter?
A smart meter records your household’s power consumption – usually electricity, and sometimes gas and water. It uses a two-way radio signal similar to cell phones and Wi-Fi to transmit information to the utility company. The data flow provides the utility and the customer with updated usages information and more accurate billing.
Like most things, there are pros and cons regarding smart electricity meters, with different opinions about health and security. Despite differing opinions, it’s estimated that approximately 80 percent of American homes will have a smart meter installed by the end of 2020.
Smart Energy Meter Benefits
Smart meters come with some benefits that have gotten the attention of many homeowners.
1. With a smart meter, daily household energy data is available to both the homeowner and the utility company. Homeowners can use real-time data to identify strategies to reduce power use and better control their electric bill.
2. Because it’s not possible for meter readers to visit every analog meter every month, every other month’s bill is estimated with analog meters. This can result in unexpectedly high bills to make up for low estimated bills. With smart meters, monthly bills are based on actual daily power usage data, so you’re never under or overpaying.
3. Without the need for in-person meter reading visits, costs are reduced for the utility company, and those savings can be transferred to the customers.
4. With the constant flow of user data the comes from homes with smart meters, utility companies can offer faster power outage detection and resolutions.
Does Your Home have a Smart Electric Meter?
If your utility company hasn’t yet installed your smart energy meter, we can install a power consumption meter at your electric panel, which will provide you with real-time energy usage information to help you better manage and reduce your energy bills.