A smart meter is the latest digital electricity device that records the energy usage in your home and sends the data to your service provider. In comparison to the traditional manual reader which will only record your overall electricity use, then bill you quarterly, the smart meter records in 30-minute intervals and transmits information daily. Installing a smart meter to measure electricity use holds many advantages such as lowering general fees, a more accurate reading and flexible billing options.

Here are the 5 main benefits of installing a smart meter

  1. A more detailed analysis of your energy use in comparison to the old meters which will give you an idea of any unnecessary energy use and help you become more energy efficient.
  2. Will allow you to monitor your electricity supply and the quality of your electricity, along with any outages or other problems.
  3. Smart meters let you disconnect remotely, avoiding any delays if you decide to move or swap to a different electricity retailer, meaning you can connect and disconnect without requiring a technician.
  4. Allows third parties to analyse customer data and help find more affordable electricity plans.
  5. A smart meter gives you the opportunity to get a plan with different electricity prices, which allows you to save money specially during peak periods if you use less energy.

Ways a smart meter can save you money:

  • Being able to adjust energy use: one of the main advantages of a smart meter is that you have more control over your energy use, allowing you to make more informative decisions regarding your energy consumption
  • Allows you to effectively budget: a smart meter allows you to view your electricity costs, which means there’s no surprises when you receive your bills each month.
  • Paying for what you use instead of an estimated bill from your supplier: traditional meters use monthly readings meaning your bills are always an estimate and aren’t always accurate.

What you need to know before installing a smart meter:

  • Smart meters can not be installed on older switchboards, and your switchboard may need to be replaced to make sure it complies with current safety standards. You will need to pay for the switchboard upgrade.
  • Many electricity retailers will install your meter for free or as part of your electricity contract. If your manual read meter is not faulty or has not reached the end of its life, your retailer does not have to install a new smart meter, however several retailers offer smart meters with new contracts.
  • If you are looking to install solar panels at your property, you will need to install a smart meter. Many retailers will arrange for a smart meter to be installed for free or as part of your contract if the current meter is not a smart meter.

If you are interested in installing a smart meter, but need to upgrade your switchboard first, book an appointment with one of our licensed electricians today. Call our friendly team on 1300 674 797.