Electricity Bills – Save Money with Smart Grid Technology

Electricity Bills – Save Money with Smart Grid Technology

Posted: 2016.06.26

By: Kevin Williams

Categories: Money Savings

We all have bills to pay, including electricity bills. The average monthly electricity bill nationwide is $114, or nearly $1,370 per year, according to the U.S. Dept. of Energy. Keeping the lights on is important, but wouldn’t it be nice if there was a way to save some of that money without resorting to gas lights, oil lamps, and candles? Smart Grid technology products now enable you to store power in a “battery” for your home and then use it when you really need it. This can result in a savings of up to 50 percent of your electricity bill. Imagine reaching into your couch and finding an extra $67 dollars every month. Here are four ways this can happen with Smart Grid tech:

Storing electricity for peak usage

Smart Grid technology enables you to store electricity you receive from the utility company during off-peak periods. You can then use it later when you need it. This way, you’re making the most efficient use of your electricity possible.

Putting you in control of the amount of electricity you use

Smart Grid technology allows you to monitor the amount of electricity you use for each outlet and switch in your home. You can then adjust the power that flows to each of them according to your usage patterns so that you’re not wasting a single kilowatt hour. For example, if you have a TV plugged into the outlet, the system will predict how much storage is required to power the TV through peak-demand periods. You can then use this information to determine how much energy to devote to this outlet for this device at any given time.

Helping you change behavior to optimize energy usage

As you review data about your energy usage, you’ll discover ways that you can change your behavior to gain even more energy savings. Perhaps you’ve been leaving the lights on all over the house without realizing it, or maybe you can use bulbs that are not as bright and thus don’t consume as much electricity. These insights will help you to be more energy efficient so you can save more money every month.

Increasing the value of renewable energy

You can connect renewable energy sources such as solar power to the Smart Grid technology in your home to be stored and used later as well. This will result in more savings on electricity costs overall.

Using Smart Grid technology to power your home can result in substantial cost savings over time. By storing electricity for when you really need it, controlling how much you use, changing your behavior, and taking advantage of renewable energy sources, you can put extra money in your pocket every month. Then the only thing to do will be to figure out what to spend it on.