Business Idea: Electricity consumption monitoring

How many times in your childhood did your mom asked you to switch off the lights and fans to save electricity bills, certainly everyday. Sadly she wasn’t successful.

This is due to the fact that while the meter reading was increasing we never cared about it as it was hidden in some corner of the house or society. It was accessed only when the meter reading was required for bill processing. It is rightly said “Out of sight is out of mind”. Also while the electric meter only shows that reading, it does not give a real time bill in monetary terms. The pinch of wasting the energy would only be realized if the real time bill is displayed in monetary value.

A solution to this problem would be a real time electricity consumption monitoring device. It can be placed at a prominent location in the house where it is easily view-able. This device should convert the electricity meter reading and show it in monetary value in real time. Taking a step further a device can be connected with every switch socket to monitor its monetary consumption while it is in use. This will help people be more cautious about saving energy. The solution can be extended to providing information on mobile app along with connecting the same with smart devices to control the overall system.

Canada has implemented a similar solution which helped them save a total of 11% of there domestic electricity consumption. Such measure can help reduce load on natural resources and save environment.

Similar solution can be extended to commercial establishments as well. For example in IT companies the infrastructures are huge and are used in irregular pattern after normal office hours. Such device can make employee sensitive about the energy wastage and help save operational expenses for the companies.