Smart meter and its objectives

A smart meter is an electronic device that records information such as power consumption, voltage level, current, and power factor. Smart meters communicate information to consumers for a clearer understanding of consumption behavior and to electricity suppliers for system monitoring and customer billing.Smart meters typically record energy in near real time and report periodically at short intervals throughout the day.Smart meters enable two-way communication between the meter and the central system.This Advanced Metering Infrastructure (AMI) differs from Automatic Meter Reading (AMR) in that it supports two-way communication between the meter and the supplier.Communication from the meter to the network can be wireless or via a fixed wired connection such as a power line carrier (PLC).Commonly used wireless communication options include cellular, Wi-Fi (off-the-shelf), Wi-Fi-based wireless ad hoc networks, wireless mesh networks, Low Power Long Range Wireless (LoRa), Wize (high radio penetration, open, using Frequency 169 MHz) Zigbee (low power, low data rate wireless) and Wi-SUN (smart utility network).

Objectives

Since the beginning of global electricity deregulation and market-driven pricing, utilities have sought a way to match consumption with generation.Non-smart electricity and gas meters only measure total consumption and do not provide information on when energy was consumed.Smart meters provide a way to measure electricity consumption in near real time.This allows utilities to charge different prices for consumption based on time of day and season.It also helps to provide utilities with more accurate cash flow models. Labor costs for utilities are reduced because smart meters can be read remotely.Smart metering offers potential benefits to customers. These include, a) an end to estimated bills, a major source of many customer complaints b) a tool to help consumers better manage their energy purchases a smart meter with a display outside their home could provide.The latest information on gas and electricity consumption, doing so can help people manage their energy use and reduce their energy bills.With regard to reduced consumption, this is critical to understanding the benefits of smart meters as relatively small benefits in terms of savings are multiplied by millions of users Smart water meters can also provide detailed and timely information on customers' water consumption and provide early notification of possible water leaks at their premises.Electricity prices typically peak at certain predictable times of day and season. In particular,if generation is limited, prices may increase if power from other jurisdictions or more expensive generation comes online. Proponents assert that charging customers at higher rates during peak hours encourages consumers to adjust their spending habits to be more responsive to market prices, and further assert that regulators and market design agencies hope that these "price signals" will Delaying additional generation, or at least purchasing energy from more expensive sources, thereby controlling steady and rapid increases in electricity prices.

An academic study based on existing trials shows that when real-time feedback is provided, homeowners reduce their electricity use by an average of about 3-5%.Another advantage of smart meters that benefits both customers and utilities is the monitoring capabilities they provide for the entire electrical system.As part of AMI, utilities can use real-time data from smart meter measurements related to current, voltage, and power factor to detect system outages more quickly, allowing immediate corrective actions to minimize customer impacts such as outages.Smart meters can also help utilities understand grid demand in a more granular way than traditional meters.This greater understanding facilitates system planning to meet customers' energy needs while reducing the likelihood of additional infrastructure investment, thereby eliminating unnecessary expenditure or increased energy costs. While the task of meeting the nation's electricity needs with accurate supply becomes increasingly challenging as intermittent renewables become a larger share of the energy mix, the real-time data provided by smart meters enables grid operators to Incorporating renewable energy into the grid in order to balance the network.Therefore, smart meters are considered an important technology for the decarbonization of energy systems.