How exactly can a smarter grid make our lives better, easier, cheaper or more efficient? A first-of-its-kind report card template for utilities developed by the Environmental Defense Fund identifies several good reasons for upgrading our current electricity infrastructure:

• Energy “on sale” when fewer people want it. So-called “dynamic pricing” can automatically lower the cost of electricity during times of low demand. That will make it easier for customers to control their electric bills by, for example, running the dishwasher during off-peak nighttime hours.
• Pick and choose your power source. A smarter grid will make it easier for utilities to offer their customers a range of electricity generation sources, including wind or solar.
• Be your own utility. More intelligent networking will also enable people to “plug and play” a variety of different technologies for generating, storing and using their own electricity.
• Better support for electric cars. A smart grid will be better able to manage the integration of electric-vehicle charging stations, both public and private, into the power system. That should make it easier to speed up the installation of more charging points … which should translate to less battery anxiety while on the road.
• More reliable power. Better sensors and monitoring software will help utilities pinpoint power failures more quickly and even identify potential trouble areas before a failure occurs. That should mean fewer hours sitting in the dark and worrying about the contents of your fridge after storms or during heat waves.
• We’ll get smarter too. Right now, it’s hard to know where the biggest energy drains in the house are, and how to make a major dent in our electric bills without switching off everything. Smart energy meters, home or online monitors and real-time data will give us a lot more insight into how we’re using energy and what’s running up our electricity costs the most.

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