Role of Smart Meters in Energy System

Smart meters are transforming our energy system smarter. Awareness of smart meters and the crucial and prompt benefits they can bring to consumers is now at an all-time high. This has brought a major change in the energy management system. This device provides energy consumers with new information that can be utilized to better understand energy consumption habits. Now with the introduction of smart meters, you and your energy suppliers can receive updates regarding your energy supply in real-time.

Demand for electricity in India has risen sharply, so it is essential that our energy system should handle this demand in a cost-effective way. But with the introduction of smart meters, this crisis can be handled in a smart way. This device produces more accurate energy billing and helps consumers to better understand their energy usage, thus paving the way to save energy and cut down costs. Smart meters have a much greater role to play in our nation’s future energy system.

In other words, smart meter technology can play an integral part in the realisation of the smart energy grid – the digital, interconnected network that will supply us with a modern, more effective, and cleaner supply of power.

In simple terms, the smart grid will bestow a wide range of new technologies with smart meters at the very heart of this chain. This will allow two-way communication between consumers and the energy network, enabling real-time, automatic responses to changing electric demand.

There are several ways in which smart meters are set to make this notion a reality. There are some changes that are already in progress and some are currently in the pipeline and all set to alter the energy system as we know it for good.

Matching Supply with Demand Using Smart Data

To better match energy supply with demand, distribution network operators use smart meters to collect data and are equipped with accurate figures on energy use. As a consequence, operators will be able to perform the function of the National Grid in balancing energy use. By more precise tracking of electricity requirements, the network will be better prepared for a more stable and efficient grid.

Smart meters are making our energy system smarter

Smart meters accurately share electricity readings with your distributor. This implies no more awaited bills, and no more staying at home to let the meter reader in.

Smart meter data can also allow the smart energy system to:

  • Detect and respond to cuts in electricity more quickly
  • Better match supply with demand.
  • It helps reduce waste.
  • Allow energy distributors to bring about more sources of local and renewable energy

Smart meters can allow new tariffs and technology

Smart meters provide different prices for energy at different times of the day. This enables consumers to cut costs and reduce their carbon footprint if their home is able to utilize less energy during periods of little demand (during off-peak periods).

This is due to the fact that the cost of generating electricity differs all day long, energy is more costlier during peak periods, when energy distributors may require to turn on fossil fuel-powered generators to deal with high demand.

When households alter their usage away from peak periods, energy demand is balanced over the day so the energy system can make more use of renewable energy when they are available. However, if your home tends to use more energy during peak periods, you could still get a smart meter and use it to monitor your energy use.

Smart meters are making our energy system fit for the future

Due to the growing demand for electricity, it's very important that our energy system handle this rise in need for energy in a cost efficient way.

Smart meters are integral in increased energy demands in the future because they:

  • Facilitate a flexible energy system that can take advantage of greener sources of energy;
  • They help to improve the way the system balances supply with demand.
  • Guarantee the security of our energy supply.

Smart meters are delivering the future of smart energy, making for a more modern, efficient, and cleaner energy. Smart meters to homes and businesses enable the growth of a remote-energy management system that helps the energy user decrease the energy costs and also the amount of energy used. Smart meters make a solid base for the remotely deployed energy management function. The frequent data given by the smart meters can be processed only automatically. Smart meters make our energy system more flexible, secure and fit for the future.