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What is a “smart grid” and how will it affect my energy bill?
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A smart grid is a modernized electricity system that uses digital technology to monitor, control, and optimize the flow of electricity. It involves connecting various sources of power generation, such as wind and solar, with consumers through a network of high-voltage transmission lines. This allows for more efficient use of existing infrastructure, better monitoring of the electrical system, improved reliability, and reduced costs. Smart grids are expected to have an impact on energy bills in two main ways: 1) by making the delivery of electricity more efficient, which can lead to lower prices; and 2) by providing consumers with greater access to renewable energy resources, which could reduce their overall electricity bills.