It has been ongoing for a few years now, but major utilities are objectively trying to introduce smart meters into the grid
. It has even been partly funded by Federal stimulus, but it has yet to be completed. But what would installation of smart meters mean for the industry at large; and, consequentially what does that mean for residents who depend on these utilities and energy companies for electricity?
The smart meter is an electrical device that records electricity consumption in intervals usually an hour long but sometimes less. It then transfers that information back to the utility at the end of the day for the sake of accurate billing. It has an advanced metering infrastructure permitting two-way communication from the meter and the central system. Implemented as a standard they will allow for overall global energy conservation.
It also means that the infrastructure of utilities and energy companies will have to be prepared for it. Cybersecurity will need to be boosted to protect privacy and other valuable information. It may mean a few hiccups upon introduction because this is going to require upgrade to the overall system, but this also means that consumers will look forward to more knowledgeable companies.
Not every state is currently on board with the technology, but the intention behind their implementation is to lower costs due to older meter misreading as well as optimizing user convenience. It will give a better picture as to when the highest electricity consumption occurs and will allow companies to see trends in the ebbs and flows hourly. This means being able to provide better service to consumers in the long run.
It also means a big change in the way utilities interact with consumers as well as any alternative companies the consumers switch to. The transfer of data will be much more accurate and therefore you will still get any savings passed directly to you. It also means being able to find out exactly when and how your costs change because the hour reports are recordedof course that's if your company allows transparency and disclosure of these details.
Regardless of this implementation moving forward now or later, this is the future for electric companies. At one point of another everything will be digitized. It's a natural progression of technology. As long as you know your rights as a consumer you can stay informed about the changes and see how they affect you.