More and more energy companies are installing smart electricity meters in an effort to help consumers save money on their energy bills. Smart meters allow you to track your energy usage in real-time, so you can adjust and save. In this article, we will explore how smart electricity meters are helping people save money around the world. We will also discuss the benefits of using a smart meter, how they work, and how you can take advantage of this technology to reduce your energy costs.
One of the biggest benefits of smart meters is their ability to provide real-time feedback on energy usage. Traditional electricity meters only measure usage at specific intervals, resulting in estimated bills. Smart meters, on the other hand, constantly track and record your energy usage, providing more accurate bills. This allows consumers to see exactly how much energy they are using and make adjustments accordingly.
How do smart meters work?
So how do smart meters work? They use smart technology, such as wireless communication and advanced software, to record and transmit electricity usage data. The smart meter then sends this information to the energy company, eliminating the need for manual readings. Smart meters are devices that measure electricity usage for a home or business. They can send readings wirelessly to the utility company, which then bills customers based on the actual amount of electricity used. This contrasts with traditional meters, which only measure electricity used at the start and end of each billing cycle.
The latest, 5G future-proof LPWA (Lower Power Wide Area) technology can be used to operate smart meters. This would allow utility companies to send customers real-time information about their energy use and provide tips on how they could save energy and money. In addition, 5G could also be used to remotely control smart meters, in order to fix any issues that may occur.
LTE-M is a new wireless technology that helps these devices work better and faster. It’s especially good for devices that need to send or receive a lot of data quickly, like smart meters. There are a few different types of IoT networks. Some are better for large businesses, and some are better for small businesses. LTE-M is a type of network that is good for small businesses. It helps connect devices to the internet so that they can send and receive data. This is helpful for things like tracking inventory or getting data from endpoints. People can use these devices to help them save money on their energy bills. LTE-M is a viable choice for smart meters because it provides good coverage in most areas. However, in some places where LTE-M might not work well, NB-IoT can be used as a backup.
How do smart meters help?
Smart meters have been shown to save consumers money on their energy bills. One publication found that people with smart meters could save an average of 130 GBP (150 USD) per year on their electricity bills, as reported by Patrick O’Donnell in the Express. This is because smart meters allow customers to see exactly how much electricity they are using and make changes to their usage habits accordingly. For example, if you see that you are using a lot of electricity during peak hours, you can adjust your habits to use less during those times.
Smart meters also allow customers to take advantage of time-of-use rates. These rates vary depending on the time of day, with lower rates during off-peak hours and higher rates during peak hours. Smart meters allow customers to know exactly when these peak hours are so they can take advantage of the lower rates.
Smart meters are also beneficial for utility companies. They allow utility companies to better manage their electrical grids and avoid brownouts or blackouts. They also help utility companies detect fraud and theft of electricity. In addition, smart meters can also be connected to the Internet of Things (IoT), allowing for remote monitoring and management of energy usage. This means that you can track and adjust your energy consumption even when you are not at home, using a smartphone or smart device.
If you are interested in using a smart meter to save on your energy bills, contact your energy provider to see if they offer smart meter installation. You can also look for other energy providers in your area that offer smart meters and compare prices. By taking advantage of smart meter technology, you can save money and become more energy efficient.
What if smart meters are not yet rolled out in your area
Smart meters are slowly becoming a staple in home energy usage, as they offer homeowners the ability to track their energy use in real-time and make changes to conserve energy and save money. However, there are still many homes around the world that do not have smart meters.
For these homes, there is a new way to take advantage of smart meter technology: smart dongles. These dongles attach to the power meter with a magnet and read out the IR signal, reporting back to the cloud. To do this you only need the PIN for your meter from your energy provider and it will work. Homeowners or energy companies can then access this data to help people save on their energy bills.
Of course, it is more convenient to use a smart meter, to begin with, so this is where energy providers, consumers, and business clients should lean towards when planning their IoT strategy for the coming years. However, smart dongles offer a solution for those who cannot yet access smart meters in their area. It’s exciting to see the advancements that are being made in energy technology and how they can benefit us all.
Roll-out examples in the real world
Telenor and Ningbo Sanxing Smart Electric have announced a partnership that will see the two companies connect around 1 million smart meters in the Nordics. The smart meters will use Telenor’s network and will allow customers to save on their energy bills. The smart meter rollout is part of a larger effort by Telenor to expand its LTE-M network including NB-IoT as a failover.
The network is designed to provide low-power, wide-area connectivity for devices such as smart meters, sensors, and wearables. Ningbo Sanxing also worked on a project where they successfully delivered 2.43 million smart meters to the Saudi Electricity Company (SEC) within nine months as part of the Saudi Arabia Smart Metering Project, leading the way in the MENA region.
Summary
Smart meters are slowly becoming a staple in home energy usage, as they offer homeowners the ability to track their energy use in real-time and make changes to conserve energy and save money. Smart meters allow customers to take advantage of time-of-use rates, which vary depending on the time of day. By taking advantage of smart meter technology, you can save money and become more energy efficient.
Photo credit: The feature image is symbolic and has been done by Yau Ming Low.
