Achieving greater sustainability in general requires many changes big and small – from changing the energy sources we traditionally rely on to changing consumer behavior. Technology, specifically smart technology enabled by the Internet of Things (IoT), plays a big role. In this paper, we will examine smart meters – a key part of the smart grid ecosystem – and describe the market growth factors, trends, applications and features to consider.

Smart meters are an essential part of today’s smart grid. The smart grid is more than just power generation and distribution; it’s an ecosystem of IoT connected technologies and communication networks that allow for two-way communications transmitting data that can be analyzed to assess grid stability, prevent and automatically report outages, monitor advanced digital readouts that can give consumers better information, and more. The smart grid is part of the IoT framework that helps monitor and manage major parts of the ecosystem – such as traffic, lighting, and road conditions – often enabling early detection of problems resulting from power surges, extreme weather, natural disasters and system or component breakdowns.