What are the pros and cons of smart meters?
Just like any change that comes with its pros and cons, smart meters also have their own advantages and disadvantages. They offer real-time energy tracking to help save on bills and reduce waste but also have a downside. In this article, we cover both pros and cons of smart meters to help you make an informed decision.
Difference between a smart meter and a standard meter
There are some differences between Smart Meters and traditional energy meters especially with the functionality. One of the main differences is that smart meters come with a digital display screen instead of a dial. Unlike traditional energy meters, smart meters don’t require someone to physically attend your property to take a meter reading. Smart meters track, display, and communicate your electricity usage throughout the day, while traditional meters record your usage over time that you would either need to manually read or have your energy provider estimate for your bill. Smart meters offer two-way communication, meaning that they can wirelessly send and receive information.
What are some advantages of smart meters?
Smart meters have many pros which will make them a popular choice among consumers in the next few years due to the roll out of the National Smart Meter programme, requiring the replacement of standard meters to smart meters. The many advantages of having a smart meter installed in your home range from financial to environmental benefits. Discover the advantages of smart metering today.
1. No more estimated bills with smart metering
Smart meters provide customers with real time data on energy consumption, eliminating the need for estimated bills. This allows you to be billed accurately based on your actual usage, creating fairness and transparency on your bills.
The two-way communication between you and your supplier means estimated bill should not be required as both parties have constant access to your usage levels. Meaning you will only get charged for the energy you use – this is one of the important advantages of smart meters.
2. Reduced energy consumption
Smart meters create visibility for its customers, allowing them to see their exact energy consumption in real time, and which appliances are using the most electricity. This is an advantage to customers as they have more insight and information into their energy consumption throughout the day, making them more energy aware and allowing them to reduce their energy consumption where they see fit.
Smart meters also seamlessly integrate with renewable energy sources, like wind turbines and solar panels. This integration allows the efficient management of energy generation and usage, creating a more eco-friendly and sustainable power grid.
3. Lower carbon footprint
Besides improving energy efficiency and reducing consumption, smart meters are also good for the environment. With a smart meter, you are more aware of your energy consumption, making you use less energy. This reduces your carbon footprint and leaves you with an electricity bill that reflects your actual energy usage.
4. More information on your energy bills
With a smart meter and smart plan, your monthly electricity bills will become ‘smart’ too. These bills will provide you with information on energy consumption, year-on-year comparisons of your energy usage, helpful graphs, as well as hints and tips to help you manage your energy better.
5. Improved customer service
With the ability to connect to smart meters remotely, ESB networks will be able to collect most meter readings automatically, meaning fewer estimated bills and only being billed for the energy you have used. When you also switch to a smart tariff, you will get better insights into your consumption that can help to reduce your overall energy usage. As your supplier, we will also have access to this information so that we can help with any queries regarding how much energy you’re using and when.
6. Time-of-use tariff options
Smart meters have times when unit rates are higher, these tend to be between 5pm and 7pm. Time-of-use tariffs or smart tariffs are introduced with smart meters to encourage customers to move their usage times to time with lower unit rates. These tariffs help customers make further savings and help suppliers better balance their energy generation.
7. Easier error detection
Smart meters have the ability to detect abnormal energy usage patterns and potential system issues, which facilitates early identification of problems. This benefit of smart meters enables timely intervention and maintenance of meters to prevent energy wastage and system inefficiency.
8. Export and earn with microgeneration
Smart meters are helpful to suppliers when measuring the export of residual energy accurately and enabling them to calculate your payment correctly. Consumers without a smart meter or with a 3-phase meter* will be remunerated based on the ‘deemed export quantity’ calculation.
* ESB anticipate 3-phase smart meters to be available in 2025.
FAQs
Can you go back to the normal meter from the smart meter?
No, it is not possible to switch back to a traditional meter. This includes moving into a property that already has a smart meter installed. This is due to traditional meters not being manufactured or refurbished anymore.
What are 8 benefits of smart meters?
- They help you better understand your energy usage
- They can help you change your habits to save you money
- They’re better for the environment
- You get accurate bills over estimated bills
- You don’t need to manually get meter readings
- Smart meters are free to install
- You get access to better energy deals
- Makes specialist tariffs easier to manage
