 Old school gas meter (Source: Times Online)
Smart meters will be rolled out over the next 10 years in the UK
The British government hopes every household in the country will be able to reduce energy bills and overall carbon footprint by installing a "smart meter" that will monitor energy use. The country hopes to have every household installed with smart meters by 2020, though it's unknown if that's a realistic plan.
"The meters most of us have in our homes were designed for a different age, before climate change," according to Ed Miliband, British Energy Secretary. "Now we need to get smarter with our energy."
The government hopes to have around 2.6 million houses each year install the new smart meters each year over the next 10 years, which will likely cost at least $10 billion USD each year, with total costs up to $12B -- each house costing between $411 and $529 to upgrade.
British government officials believe saving money will help them change how they use energy. Along with having a better idea how it uses power, it's possible some homeowners will also purchase and install solar panels and wind power technologies for use in their home, as they'd be able to see the amount of energy being produced.
Citizens who use dishwashers, dryers, and other energy-hungry appliances will be rewarded when used during off-peak hours, the government said.
Furthermore, the British government became the first major country to set goals of greenhouse gas emissions, announcing it hopes to cut emissions up to 34 percent over the next 11 years compared to the country's 1990 numbers.
Smart meters are able to monitor energy consumption and transmit all vital information back to utilities companies, which helps saves resources and time, as the companies don't need to send employees door-to-door to read individual meters. Just six percent of households in Europe have smart meters, though that number will range from 25 to 40 percent by 2010, analysts predict.
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