Temperatures across the country are on the rise, and if the heat hasn’t gotten to you yet, the sticker shock from your electric bill will surely make you work up a sweat! Thankfully, many residents live in municipalities that are joining the smart grid, allowing them to find some cool savings this summer by using a smart meter in their home.
In fact, thanks to government incentives, it’s estimated that by 2015, 18 percent of the world’s meters will be converted to smart meters for a total of 250 million smart meters worldwide. In the United States, cities from Burlington, Vt., to Augusta, Ga., are opting to convert their electric meters to these energy-saving devices.
According to the U.S. Energy Information Administration, the average annual household electric bill is $1,148. Typically, smart meters allow consumers to reduce energy consumption by 10 to 15 percent, which means a smart meter could put approximately $175 back into your pocket each year! In addition, since commercial electricity bills account for 30 to 40 percent of annual operating budgets, it’s no wonder that business leaders are looking to smart meters for company cost savings.
Smart meters differ from traditional electrical meters by offering added functionality such as real-time usage reads, power outage notifications and power quality monitoring. The meters also reflect service providers’ ability to implement varying prices for consumption based on the time of day and the season. For example, prices of electricity are increased during peak usage periods and reflected on the smart meter device, encouraging consumers to use less energy during peak periods in order to save money.
But even in the smart grid, power outages are inevitable. Therefore, a smart meter must contain reliable backup power in electric smart meters or independent power in gas or water smart meters in order to maintain its real time clock and avoid disruption in the grid’s unique two-way communication. Lithium Thionyl Chloride (Li-SOCl2) is one of the ideal chemistries for smart meters because it can operate in a range of global climates with solid reliability and minimal maintenance.
If you’re lucky enough to have a smart meter installed in your home or place of work, here are some tips to maximize your energy savings this summer:
- Create a contest that encourages your family or coworkers to turn off lights, unplug electronics, etc. and award prizes if your usage dips to a certain level. You can monitor these levels using the real-time usage reads on your smart meter.
- Since service providers lower energy rates on weekends, plan your family’s meals for the week and do the majority of your cooking on off-peak days.
- Run your dishwasher and washing machine during off-peak periods (i.e. after 11 p.m. and on weekends). Also run them on full loads to reduce the number of wash cycles.
- Adjust your air conditioner to warmer temperatures during peak periods and cooler temperatures during off-peak periods.
Palladium Energy stays abreast of the newest technologies and is entrenched in emerging markets – including green power. Our expertise in lithium-based battery technologies includes Lithium Thionyl Chloride (Li-SOCl2), and is why the world’s largest smart meter manufacturers turn to Palladium for independent and backup power solutions.
- Rebecca Kritzman, director of marketing
