When it comes to electricity consumption, just how “smart” are smart meters? What is a so-called “smart meter” even capable of? These devices, which an estimated 70 million American homes are using (according to the U. S. Department of Energy), manage and record usage and performance of electronic devices. Smart meters cut out the middle man (or technician) by accurately assessing data on electrical usage in real-time or pre-determined time intervals—thus the “smart” moniker. Sounds pretty…smart, huh? Smart meters for consumers are used to replace traditional analog monitors that are read manually on a monthly basis. These modern meters are being implemented at a rapid pace whenever and wherever possible. Now that we know what a smart meter is , let’s weigh the advantages and disadvantages of smart meters for consumers and electric companies alike. “Pros” for Consumers and Electric Companies: Cost benefits and competitive prici...