Theodore Paraskevakos, a Greek-American inventor, developed the first smart meters in 1972 while working with Boeing in Huntsville, Alabama. His invention adapted technology from his patented caller ID system to monitor sensors and relay data. Over the years, these meters have undergone significant advancements. Today, they enable two-way communication and capture data such as electric energy consumption, voltage levels, and power factors, providing real-time information between meters and electricity suppliers. This not only enhances the monitoring of energy usage but also improves the accuracy of billing and system management for both residential and commercial properties.
Smart meters have replaced traditional analogue systems, which required manual readings. The digital nature of smart meters allows for precise, up-to-date information on consumption, empowering both utilities and consumers to manage energy use more effectively. By the end of 2023, over 1.06 billion smart devices had been installed worldwide, marking a major step towards the digitalisation of utility services. North America, with a 77% market penetration, leads in this global shift towards smarter energy infrastructure, as highlighted in IoT Analytics’ Global Smart Meter Market Tracker 2020–2030 report.
Governments are increasingly recognising the need to modernise ageing grid systems, encouraging the adoption of smart meters as part of broader smart grid solutions. Various regulatory frameworks and manifestos, such as the World Green Building Council’s Africa Manifesto for Sustainable Cities & The Built Environment, are promoting the integration of these technologies to boost the efficiency of energy infrastructure.
Smart metering brings numerous advantages for both consumers and utility companies. It changes how we interact with energy, offering real-time data collection and analysis, which leads to more accurate billing, reduced reliance on manual meter readings, and better grid management. For consumers, this technology makes it easier to track and manage energy use, promoting more sustainable and responsible consumption. Businesses also benefit from real-time feedback, which helps optimise energy usage, leading to cost savings and a smaller carbon footprint.
On a broader societal level, smart meters empower households to take control of their energy consumption, contributing to energy awareness and fostering a more sustainable lifestyle. This shift aligns with growing global efforts to conserve resources and minimise environmental impacts. As sustainability becomes an increasingly important focus, smart meters are emerging as a key tool for efficient utility management, allowing for proactive maintenance and more informed energy use.
Looking ahead, the rise of technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and Big Data is ushering in a new era of energy management. Future smart meters will likely communicate with other household gadgets, finding ways to save energy without requiring direct intervention from consumers. This not only paves the way for more thoughtful and responsible energy use but also promises to create smarter, greener, and more resilient communities around the world.
Smart metering is not just a technological development; it is a vital tool in building a future where energy is used more efficiently, sustainably, and intelligently. The possibilities for innovation in this field are immense, and the positive impacts are set to benefit both the environment and the economy.
CyanConnode Holdings plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications.
