Power companies across the US are aggressively rolling out the new smart meters. These new meters measure electrical consumption in real-time by being networked to electrical utilities computers. No more waiting months for meter readers to personally record your power usage.
This new smart meter technology can signal you or your appliances to take certain actions, such as turning off electrical components during high-priced electricity spikes helping you save money. According to The Edison Foundation, more than 8 million meters have already been installed. With nearly 60 million expected to be in place by 2020.