Would you like to save money while saving the planet? That’s possible with a relatively new ‘smart meter’ that can tell your utility provider how much energy you need, and if you need service after an outage.
At the Renewable Energy Conference, held last week in the Hudson Valley, Jim Laurito, a member of The Business Council’s board of directors and President and CEO of Central Hudson Gas and Electric, touched on this possibility as technology transforms the energy industry. He explained how smart meters can “fine tune” load delivery, saving you money and conserving electricity because less energy is wasted and less goes unused. This could help bring down peak load, effectively shaving “3% off the top”, which also translates into money saved.
Solar installations have grown tremendously within the Hudson Valley. In fact, they now number around 3,000, with those installations producing a total of 36 megawatts of electricity. The number of solar installations is expected to increase, however the implementation of smart meters will take nearly a decade.
Dario Gil, a vice president of IBM, also illustrated how data collection, analysis, and application will help streamline the energy industry. He gave an example of how weather prediction systems can optimize positioning of repair crews, which means those crews operate more efficiently and customers spend less time without power.
As Laurito puts it, “we want to get closer to our customers”, and a smart grid would absolutely do that. Everybody wins: the consumer, the provider, the economy, and the environment.
The Renewable Energy conference took place on April 29-30 at Marist College, and was sponsored by The Business Council, Marist College, and the Hudson Renewable Energy Institute.