When it comes to saving money for your home, many people look at different ways of making their homes more energy efficient. Some of those ways include buying a new energy efficient furnace, regulating the heating and cooling during the days, or using less water.
While you may know that the country lives on a grid system that runs electricity in our cities, towns, and neighborhoods, you may not know that the system is fairly outdated. The government wants us to get smarter with how we allocate our electricity and the “Smart Grid” could be the way to do that.
The Smart Grid helps us make the distribution of energy more efficiently. It helps in many ways, such as:
- Quicker restorations of power after a power outage or blackout
- Reduced operations for utilities
- Reduced peak demand for energy
- Better integration of renewable energy systems
- Better security
By being able to measure things digitally, power systems will be able to detect when power outages happen and be able to isolate those outages so fewer people are affected. In the same manner, they will be able to get the power up and running, for those that don’t have it, faster.
By making the system a two-way process, it puts more control in the consumer's hands. One of the ways that the Smart Grid will help us is giving us access to information that will help us in making better energy decisions. It will let us know how and when we are using our energy so we know when best to use it. When people were given this information, they became more contentious and saved an average of 20% on their energy bill. Some people even saved up to 50%.
Similar to how you check your finances with your bank online, the Smart Grid will allow you to check how much energy you are using during the month. This will allow you to make adjustments if you want to save money during the month. Now instead of waiting for the governments to lower your costs, you can take a proactive approach and save with the knowledge you have of how much you are using.
Unfortunately, with all infrastructure in place and all the moving parts, pieces and equipment involved with upgrading the system, the cost of the Smart Grid will be high. Just like any upgrade, however, the long-term effects of having this system in place will lower costs.
The Smart Grid can help us get our energy more efficiently, save administrative costs, and give us more control over the amount of energy we use, and how we can save money ourselves. While the cost may be high to set up, over time it will save us money by being more efficient.