A cost-effective smart metering approach towards affordable deployment strategy.

Revamping the power grid into a smart grid and modernizing it with advanced metering infrastructure are essential steps in addressing ongoing energy challenges. Smart meters play a pivotal role in power grid modernization by providing real-time energy-related data which fuels the control activities of modern grid. While the advantages of smart meters are evident, their deployment necessitates a comprehensive redesign of the grid architecture, involving smart end devices for monitoring and communication networks for efficient data exchange. Yet, achieving cost-effective and widespread adoption of these technologies poses a challenge, particularly in developing and underdeveloped nations due to high capital costs, technological constraints and uneconomical deployment strategies. Moreover, the prevailing research often advocates a complete transition to new smart meters to achieve 'smartness,' neglecting the potential of existing metering infrastructure upgrades. To address these concerns, this study proposes and simulates the design of a low-cost Smart Network Meter. Notably, this meter upgrades the existing meter infrastructure while validating a cost-effective deployment strategy. Furthermore, a consumer opinion survey was also conducted to compelling evidence supporting the adoption of the proposed low-cost smart metering solution.