Smart energy meters: Where’s the savings?
Five years ago came the promise: A great new way of saving money on your energy bills was on its way. An impressive new device called a “smart meter” — a key component of the much touted “smart grid” — would let consumers actually see how much power they’re using in their homes, thus empowering them to change their habits and slash their bills.
President Obama heralded the innovation: “Smart meters will allow you to actually monitor how much energy your family is using by the month, by the week, by the day, or even by the hour,” he said in 2009, as the federal government unleashed a $3.4 billion Smart Grid investment. “So coupled with other technologies, this is going to help you manage your electricity use and your budget at the same time.”