The smart meter and a smarter consumer: quantifying the benefits of smart meter implementation in the United States
The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and deteriorating infrastructure. High congestion levels in transmission lines are greatly reducing the efficiency of electricity generation and distribution...
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| Published in | BMC chemistry Vol. 6; no. Suppl 1; p. S5 |
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| Main Authors | , , , , , , |
| Format | Journal Article |
| Language | English |
| Published |
Cham
Springer International Publishing
23.04.2012
Springer Nature B.V BioMed Central Ltd BioMed Central BMC |
| Subjects | |
| Online Access | Get full text |
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| Abstract | The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and deteriorating infrastructure. High congestion levels in transmission lines are greatly reducing the efficiency of electricity generation and distribution. In this paper, we assess the faults of the current electric grid and quantify the costs of maintaining the current system into the future. While the proposed “smart grid” contains many proposals to upgrade the ailing infrastructure of the electric grid, we argue that smart meter installation in each U.S. household will offer a significant reduction in peak demand on the current system. A smart meter is a device which monitors a household’s electricity consumption in real-time, and has the ability to display real-time pricing in each household. We conclude that these devices will provide short-term and long-term benefits to utilities and consumers. The smart meter will enable utilities to closely monitor electricity consumption in real-time, while also allowing households to adjust electricity consumption in response to real-time price adjustments. |
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| AbstractList | Doc number: S5 Abstract: The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and deteriorating infrastructure. High congestion levels in transmission lines are greatly reducing the efficiency of electricity generation and distribution. In this paper, we assess the faults of the current electric grid and quantify the costs of maintaining the current system into the future. While the proposed "smart grid" contains many proposals to upgrade the ailing infrastructure of the electric grid, we argue that smart meter installation in each U.S. household will offer a significant reduction in peak demand on the current system. A smart meter is a device which monitors a household's electricity consumption in real-time, and has the ability to display real-time pricing in each household. We conclude that these devices will provide short-term and long-term benefits to utilities and consumers. The smart meter will enable utilities to closely monitor electricity consumption in real-time, while also allowing households to adjust electricity consumption in response to real-time price adjustments. Abstract The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and deteriorating infrastructure. High congestion levels in transmission lines are greatly reducing the efficiency of electricity generation and distribution. In this paper, we assess the faults of the current electric grid and quantify the costs of maintaining the current system into the future. While the proposed “smart grid” contains many proposals to upgrade the ailing infrastructure of the electric grid, we argue that smart meter installation in each U.S. household will offer a significant reduction in peak demand on the current system. A smart meter is a device which monitors a household’s electricity consumption in real-time, and has the ability to display real-time pricing in each household. We conclude that these devices will provide short-term and long-term benefits to utilities and consumers. The smart meter will enable utilities to closely monitor electricity consumption in real-time, while also allowing households to adjust electricity consumption in response to real-time price adjustments. The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and deteriorating infrastructure. High congestion levels in transmission lines are greatly reducing the efficiency of electricity generation and distribution. In this paper, we assess the faults of the current electric grid and quantify the costs of maintaining the current system into the future. While the proposed “smart grid” contains many proposals to upgrade the ailing infrastructure of the electric grid, we argue that smart meter installation in each U.S. household will offer a significant reduction in peak demand on the current system. A smart meter is a device which monitors a household’s electricity consumption in real-time, and has the ability to display real-time pricing in each household. We conclude that these devices will provide short-term and long-term benefits to utilities and consumers. The smart meter will enable utilities to closely monitor electricity consumption in real-time, while also allowing households to adjust electricity consumption in response to real-time price adjustments. Abstract The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and deteriorating infrastructure. High congestion levels in transmission lines are greatly reducing the efficiency of electricity generation and distribution. In this paper, we assess the faults of the current electric grid and quantify the costs of maintaining the current system into the future. While the proposed “smart grid” contains many proposals to upgrade the ailing infrastructure of the electric grid, we argue that smart meter installation in each U.S. household will offer a significant reduction in peak demand on the current system. A smart meter is a device which monitors a household’s electricity consumption in real-time, and has the ability to display real-time pricing in each household. We conclude that these devices will provide short-term and long-term benefits to utilities and consumers. The smart meter will enable utilities to closely monitor electricity consumption in real-time, while also allowing households to adjust electricity consumption in response to real-time price adjustments. |
| ArticleNumber | S5 |
| Author | Cook, Brendan Gazzano, Jerrome Vilogorac, Samra Mahajan, Sakshi Gunay, Zeynep Taskan, Aynur Hiller, Lucas |
| AuthorAffiliation | 1 University of Chicago, Chicago, IL, USA |
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| Author_xml | – sequence: 1 givenname: Brendan surname: Cook fullname: Cook, Brendan organization: University of Chicago – sequence: 2 givenname: Jerrome surname: Gazzano fullname: Gazzano, Jerrome organization: University of Chicago – sequence: 3 givenname: Zeynep surname: Gunay fullname: Gunay, Zeynep organization: University of Chicago – sequence: 4 givenname: Lucas surname: Hiller fullname: Hiller, Lucas email: lhiller@uchicago.edu organization: University of Chicago – sequence: 5 givenname: Sakshi surname: Mahajan fullname: Mahajan, Sakshi organization: University of Chicago – sequence: 6 givenname: Aynur surname: Taskan fullname: Taskan, Aynur organization: University of Chicago – sequence: 7 givenname: Samra surname: Vilogorac fullname: Vilogorac, Samra organization: University of Chicago |
| BackLink | https://www.ncbi.nlm.nih.gov/pubmed/22540990$$D View this record in MEDLINE/PubMed |
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| CitedBy_id | crossref_primary_10_1016_j_enpol_2018_08_038 crossref_primary_10_2139_ssrn_3108765 crossref_primary_10_1002_er_3329 crossref_primary_10_1016_j_jpdc_2020_06_014 crossref_primary_10_3390_en14071852 crossref_primary_10_1016_j_jksuci_2018_02_012 crossref_primary_10_1016_j_energy_2013_10_011 crossref_primary_10_1016_j_scs_2020_102534 crossref_primary_10_1016_j_enpol_2014_05_051 crossref_primary_10_1016_j_rser_2021_111224 crossref_primary_10_4236_sgre_2017_86011 |
| ContentType | Journal Article |
| Copyright | Cook et al; licensee BioMed Central Ltd. 2012. This article is published under license to BioMed Central Ltd. This is an Open Access article distributed under the terms of the Creative Commons Attribution License ( ), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. 2012 Cook et al; licensee BioMed Central Ltd. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Copyright ©2012 Cook et al; licensee BioMed Central Ltd. 2012 Cook et al; licensee BioMed Central Ltd. |
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| DOI | 10.1186/1752-153X-6-S1-S5 |
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| Keywords | Electricity Price Electricity Demand Transmission Line Electricity Consumption Smart Grid |
| Language | English |
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| References | http://www.scientificamerican.com/article.cfm?id=preventing-blackouts-power-grid&page=5 WolakFrank“Lessons from the California Electricity Crisis.”Center for the Study of Energy Markes Working Paper no 1102003University of California Energy Institute HinesPAptJTalukdarSTrends in the History of Large Blackouts in the United States2006 http://www.eia.gov/tools/faqs/faq.cfm?id=77&t=11 BorensteinCarlFriedmanLee SGreenRichard J“The History of Electricity Restructing in California”Center for the Study of Energy Markets Working Paper no 1032002University of California Energy Institute U.S Department of EnergyOffice of Electricity Delivery and Energy Reliability Fact Sheet2006 OwenJudithOwenGill“Smart Meters: Commercial, Policy and Regulatory Drivers.”Sustainability First2006 NERCLong-Term Reliability Assessment2009 ReissPeter CWhiteMatthew W"Household Electricity Demand, Revisited"Research Papers 18302002Graduate School of BusinessStanford University "Electric Power Monthly - Retail Sales of Electricity to Ultimate Customers: Total by End-Use Sector". Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government. Web. 10 Dec. 2009. http://www.eia.doe.gov/cneaf/electricity/epm/table5_1.html. "Electric Power Monthly - Retail Sales of Electricity to Ultimate Customers: Total by End-Use Sector." Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government. Web. 10 Dec. 2009. http://www.eia.doe.gov/cneaf/electricity/epm/table5_1.html Electricity: "Electric Power Monthly - Retail Sales of Electricity to Ultimate Customers: Total by End-Use Sector". Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government. Web. 10 Dec. 2009. http://www.eia.doe.gov/cneaf/electricity/epm/table5_1.html. Electricity Sales m kWh: "Electric Power Monthly - Retail Sales of Electricity to Ultimate Customers: Total by End-Use Sector." Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government. Web. 10 Dec. 2009. http://www.eia.doe.gov/cneaf/electricity/epm/table5_1.html http://www.eia.gov/tools/faqs/faq.cfm?id=92&t=4 US Department of EnergyNational Electric Transmission Congestion Study2009 http://www.galvinpower.org/resources/galvin.php?id=26 http://sites.energetics.com/gridworks/grid.html http://www.eia.doe.gov/cneaf/electricity/epa/epat8p1.html National Academy of Sciences: America’s Energy Future: Technology and Transformation: Summary Edition. http://www.pulp.tc/Smart_Meters_2012_Real_Time.pdf HoggMax“Do smart meters actually save energy?”Financial Times2009 http://www.eia.gov/tools/faqs/faq.cfm?id=65&t=2 Reiss Peter, White Matthew: “Demand and Pricing in Electricity Markets: Evidence from San Diego During California’s Energy Crisis”. The National Bureau of Economic Research U.S Department of Energy (375_CR11) 2006 375_CR21 Max Hogg (375_CR22) 2009 375_CR13 Judith Owen (375_CR23) 2006 U.S Department of Energy (375_CR12) 2006 US Department of Energy (375_CR6) 2009 Frank Wolak (375_CR20) 2003 NERC (375_CR10) 2009 375_CR9 375_CR7 375_CR5 P Hines (375_CR8) 2006 375_CR4 375_CR3 375_CR18 375_CR2 375_CR1 Peter C Reiss (375_CR15) 2002 375_CR14 375_CR17 Carl Borenstein (375_CR19) 2002 375_CR16 |
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| Snippet | The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and... Abstract The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and... Doc number: S5 Abstract: The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from... Abstract The electric grid in the United States has been suffering from underinvestment for years, and now faces pressing challenges from rising demand and... |
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| SubjectTerms | Alternative energy sources Chemistry Chemistry and Materials Science Chemistry/Food Science Devices Discount rates Electric utilities Electricity consumption Energy policy Households Measuring instruments Meters Monitors Natural gas Real time Residential energy |
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| Title | The smart meter and a smarter consumer: quantifying the benefits of smart meter implementation in the United States |
| URI | https://link.springer.com/article/10.1186/1752-153X-6-S1-S5 https://www.ncbi.nlm.nih.gov/pubmed/22540990 https://www.proquest.com/docview/1008856205 https://search.proquest.com/docview/1010495040 https://search.proquest.com/docview/1709716923 http://dx.doi.org/10.1186/1752-153X-6-S1-S5 https://pubmed.ncbi.nlm.nih.gov/PMC3332254 https://doaj.org/article/9164ae1ca6a1479a98749f5c45df143f |
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