With rising electricity prices and other cost of living increases, homeowners need smarter ways to save money. One way you can start saving money in your home is with a smart meter in Australia. Smart meters are an upgrade on the previous metering systems used in homes and businesses for decades. As technology advances, so does the electrical supply industry.
Smart electricity meters offer significant benefits, and we’re going to explore these further below.
Reduced fees and charges
Installing a smart meter in Australia helps to reduce fees and charges by providing accurate, real-time data on electricity usage. Because smart meters send information to the electricity retailer digitally, manual meter readings are a thing of the past. According to the Australian Energy Market Commission (AEMC), smart meters are expected to save customers and energy providers a total of $507 million by 2030.
At the same time, the digital nature of smart meters means that connections and disconnections can occur seamlessly without manual intervention. This should result in reduced charges when you move in and out of a property. Plus, the process is quicker, giving you reliable power from day one.
Pay for what you use
One of the main benefits of smart meters is that they ensure you only pay for the electricity you actually use. Traditional meters often rely on estimated readings, which can lead to inaccurate data and incorrect charges. Smart meters, however, provide precise and up-to-date information on energy consumption, which takes away the guesswork. As a result, you only pay for the electricity you use.
Smart meters send information to your retailer every 30 minutes, so you can get real-time data that helps with household budgeting and avoiding nasty bill surprises.
Real-time electricity monitoring
As we mentioned, smart meters allow for real-time monitoring of your electricity usage. Most retailers provide an online portal or downloadable app where you can regularly check your consumption and costs. As a result, you can make smarter decisions about how you use your power.
For example, you might choose to run high-energy appliances during off-peak times when electricity rates are lower. Plus, you’ll always have a good idea of how much your next bill will be.
Smart meters are required for solar
Finally, if you want to invest in solar energy and slash your electricity bills even further, you’ll need a smart meter. Traditional electricity meters aren’t compatible with PV solar systems, so you’ll need to upgrade as part of your solar installation. Far from being an unnecessary expense, smart meters allow you to export unused solar energy back to the grid for a credit on your account, known as a feed-in tariff.
Need more information on installing a smart meter in Australia?
Supply Workforce provides a dedicated smart meter installation, connection and disconnection service to NSW residents. As you can see, there are significant benefits to installing a smart meter in Australia. From reduced fees and charges to more accurate readings, smart meters are the perfect way to save money and future-proof your home. Contact us today to find out more.
