Smart grid is an initiative in the front and center as Obama's administration is allocating from the economic stimulus package some $4Billion. At face value, the smartest way to spend this smart grid budget is to have a "smart meter" installed in every household. Approximately, it will cost $100 or higher and would even cost more to run. However, consumers will be able to save a considerable amount with a meter that's a little more complex.
Money and time invested on developing alternative energy sources might just be useless unless the power distribution grid performs well in the efficient integration and translation of power. There might be major energy problems in the future as the electricity demand would be very high, unless an excellent management of smart grids will be implemented.
The smart meter is a great help in cutting down on reading costs as it is able to send information between the power company and the meter wirelessly. If needed, it can also inform the company if there is any problem which therefore allows remote monitoring of use. Ultimately, smart meters can communicate with the utilities and appliances that are within the property, which allows consumers to enlist in programs which use clean energy sources.
Rather than keep getting surprised by your electric utility bills every month, consumers can now do something about high energy consumption. Smart meters helps in the capacity distribution and this could be one of the solutions to this.
Ideally, appliances should be configured to operate during times when electricity demand is low. This largely affects the consumers' monthly bills as the price of electricity is usually high when the demand is also high. The V2G (vehicle to grid) approach can be very helpful in electric cars, as it allows a car that's charged overnight to be able to absorb excess energy and return it if necessary.
Smart meter and grids are capable in allowing communication between end users and energy sources. This serves as an educational platform that could encourage consumers to choose and "shop wisely" in terms of energy consumption. This will create a very well-balanced Energy supply and solutions as the smart grid is able to choose between the most efficient sources of energy at any given time.
People will be using electric vehicles in the future. There will be a high number of people who will be recharging their cars when they reach their respective homes at the end of the day. This could put strain on the system's load. Consumers will end up paying more as the demand is already very high.
In the world, Italy is leading in smart metering and smart grid. In 5 years’ time, 30 million meter will be able to self-liquidate from the savings realized every year. Smart meters and smart grids will be assets in the future as the demand for sustainable resource planning is rising.
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