Smart meters have been amongst us in some shape or form since their inception in 1977. However, recent dialogue about reducing our carbon and energy footprint has sparked a new debate if smart meters actually save you, a consumer any money.
The Coming of the Smart
It will be an understatement to mention that technological advances have made our gadgets and machines more efficient and intelligent. The ability to control your home appliances from a remote location is something users are expecting from all major manufacturers. This not only a matter of convenience for the customer but also empowers them to utilize as it pleases them, and smart meters are no different.
The Matter of Smart Meters and Reduced Energy Bills
Great Britain claims to go big on smart meters and aims to install a smart meter in every household by the end of 2020. British Gas claims smart meters will help you to monitor and control your energy footprint, which will directly result in lower bills. Smart Energy GB, a firm promoting awareness about smart meters in the United Kingdom, shared their survey results that support the above claims. The study showed that 86% of the people using smart meters modified their habits and succeeded in conserving their energy spent.
Smart Meters and Money Management
Another reason why smart meters will help you save money is good-riddance from estimated bills that have been plaguing your budget plans for decades now. Real-time monitoring of your energy spent will get rid of the estimated bills based on your previous consumptions, and provide the actual amount of energy consumed. Suppose you are ironing or washing, then you will be able to monitor not only the energy units consumed, but also how much that particular activity cost you. You will also be able to easily access daily, weekly or monthly spend through visiting a website.
Another way smart meters may contribute to saving you money will be, by allowing energy providers to provide dynamic rates. For example, they might introduce different rate plans such as peak and off-peak usage. Having a self-monitoring technology will eliminate the need of a meter reader; hence less expenses for the provider will encourage concessional rates for the consumers.
Evidence of Smart Meters Saving Money
A survey report from the UK shows that over 50 percent of consumers using smart meters claim they are already saving money and over 80 percent have already identified at least one of their high energy habits, and they have already taken steps to reduce their emissions and control their spending. The whole idea about knowing how you spend will also help you control your spending is already a success as 85% of the consumers understand their bills.
You have to understand that installing a smart meter does not mean you will get a smaller amount on your bill, but the concept is to help you modify your behavior in how you spend your electricity and gas. By empowering you to monitor, you will be able to cut down on your energy utilization, which will help save money. However, it is safe to say that with evolving technology and modified spending habits; energy providers will start offering discounted rates and a variety of energy plan information at live Enhanced.