Smart Energy Metering for Cost Comparative Analysis in Energy Management

A significant achievement in the precise and effective monitoring of electric energy is the development of an inexpensive wireless smart energy meter capable of measuring electricity consumption. This technology is essential for many applications, such as smart grids, in more complex and networked electric systems. It introduces a real-time energy monitoring system. Smart meters offer greater opportunities for effective and sustainable energy consumption and can enhance the utilization of energy sources. Sophisticated services offered by smart energy meters surpass those of conventional energy meters. These services include demand reduction, customer billing, time-based demand data analysis, outage management, distribution network analysis and planning, and remote connection. Additionally, two-way real-time communication between utility providers and smart energy meters is possible. In the framework of the study, an active energy evaluation technique was explored based on the dual components of instantaneous active and reactive power analysis. In addition, an application of electronic design and component fabrication for energy consumption monitoring and management through the concept of digital instrumentation and communication protocol was used for the realization of the physical project. The smart metering system developed was tested on three different households and the results show a decrease in the cost of electricity and the quantity of power delivered within a 24-hour timeframe.