The idea of the smart grid and the ability to communicate real time electrical market data to consumers will allow people to choose when to use electricity based on the smart grid rates. There is a lot involved in the electrical market and power pricing. Basically electricity is more expensive during higher demand times, usually mid week, mid day to evening. During the times if high demand electricity rates go up exponentially. This is due in part to the lack of generation capability and availability.

With the smart grid the communication of real time electricity rates to the consumer will be possible. This will allow people to choose not to use as much power during peak times to avoid high costs; this will overall reduce the demand. Smart grid compatible appliances or grid friendly appliances will be able to turn off and on automatically based on the cost of electricity at any given moment in time.

One of the major potential benefits of smart meters is their ability to give consumers access to detailed data on their electricity usage via an in-home display or internet portals. In-home displays are not yet widely available but should become available with a variety of options in a range of prices in the future.

The old meters are recycled.  Any newer, electronic meters utilities replace (such as solid state meters and OMR – offsite meter read – meters) are refurbished, tested and recycled back into the meter population until smart meters are installed in the area in which they are recycled. The older, electromechanical (dial) meters that are replaced are dismantled and all their components – such as aluminum, copper, glass et cetera – recycled.