May 24th, 2010
Six students at Michigan Technological University are developing a way for consumers to be able to buy electricity when it is least in demand and lower in prices. The group has designed a prototype for a ‚Äúsmart meter‚ÄĚ that would replace the average home‚Äôs watt meter.
‚ÄúThere‚Äôs currently a mismatch between how much electrical power we can generate and when consumers need that power,‚ÄĚ faculty advisor John Lukowski says. ‚ÄúThe goal was to create a device that would record, analyze and store data about energy consumption and current time-of-day energy pricing.‚ÄĚ