2022 Electric Meter Installation Cost

When planning out your expenses for the months ahead, it helps to know how much you regularly pay for certain bills. That knowledge can help you better distribute your finances. It can save you from potential budget shortages near the arrival of your next paycheck.

Having an accurate electric meter will definitely help you keep better track of your expenses. Getting a new electric meter installed will ensure accuracy. It could also potentially lead to lower electric bills.

The average cost to install an electric meter is $65, and that includes parts and labor. Homeowners spend an average of $30 to install analog electric meters, $50 for digital meters, and $200 for smart meters. You can spend another $155 if you have to remove and replace an old electric meter.

Start keeping better track of your monthly expenses with the help of a new electric meter. Learn more about how much installing a new electric meter will cost by reading on.

The job of the electric meter is simple. It’s supposed to keep track of how much electricity the property it’s attached to is consuming. Homeowners and utility company representatives then check out the meter to find out the bill for a set period of time.

An electric meter is a tracking tool. We need it to be as accurate as possible. If it isn’t accurate, then you’re potentially looking at costly and unnecessary expenses.

Is getting a new electric meter worth it though? That’s an important question for homeowners to ask. Listed below are the key reasons why you may want to consider installing a new electric meter on your property.

Electric meters are capable of lasting for a very long time. However, they are not immune to wear and tear. As the years go by, the accuracy of the electric meter may start to get worse and worse.

Early on, the disparity between your actual consumption and what the meter says could be insignificant. That may change soon enough though. If you don’t do something about your inaccurate meter, you may end up getting overcharged on a regular basis.

No homeowner wants to be on the receiving end of inaccurate electric bills. Replace your old electric meter today and address that concern properly.

Another reason why you may want to install a new electric meter is that you want to change your consumption habits. So, how exactly will installing a new electric meter help in that regard?

Some of the new electric meters on the market today do more than just track your consumption rate. On top of that valuable function, those meters will also provide a complete picture of your consumption habits. Those meters will break down your electricity consumption. They will even track the times of high electricity consumption throughout the day.

With all that information in hand, you now have the opportunity to change up your habits. Maintain those changes and you could end up with big savings by the next billing period.

Improving your consumption habits is good not just for the purposes of lowering your expenses. That change you make can also have a positive impact on the environment. Every little bit helps in that regard so the new installation is definitely welcome.

It’s not just your property that will benefit from the installation of a new electric meter. More accurate electric meters enable utility companies to identify the areas where power is being wasted.

For instance, there may be buildings in your area that are still receiving power despite no longer being occupied. That’s a big deal because you and your neighbors may be paying for that unoccupied building’s electricity.

Furthermore, the power going to those abandoned structures is placing additional strain on the electric grid. They may be contributing to power outages in your area. Install a new electric meter and make it clear where the power is going. Everyone can benefit from that change.

Analog electric meters are the so-called “old school” options. They have been around for a while and they are still capable of providing accurate readings. The aforementioned electric meters utilize electromagnetic induction to track a household’s electricity consumption.

Those analog electric meters have to be read in person by representatives from the utility company. They offer no connectivity whatsoever so they cannot send information to the providers. Reading an analog electric meter is also way more complicated compared to the other options. This may not be the option for you if your aim is to more accurately track your consumption habits.

Still, the affordable prices often attached to analog meters do make them more appealing. You can still find analog meters sold today for around $30.

Smart electric meters are the most advanced options currently on the market. Similar to digital meters, smart meters provide an easy-to-read output if you want to know your rate of consumption. Smart electric meters are capable of way more than just providing user-friendly readings though.

Smart meters are what you should be looking for if you want to fully track your rate of consumption. They will detail your consumption habits and hint at ways you can reduce your electric bills.

You probably won’t be surprised to learn that smart meters are the most expensive options given how functional they are. Some smart meters are sold for $100, but that’s the very low end. Many smart meters are priced well above $100 and some go up to $300.

During your search for a new electric meter, you may stumble upon single-rate, time-of-use options. You may be wondering about what those variations are referring to. Let’s clear things up here.

If you have a single-rate meter installed, that means you are getting charged at a similar rate all the time. The rate doesn’t change depending on the time of the day or other factors like that. Most residential homes are equipped with single-rate electric meters.

Time-of-use electric meters impose different rates throughout the day. For example, you may be charged a higher rate during peak hours and a cheaper rate during off-peak hours. Time-of-use electric meters are often attached to business establishments because of how they work.

Determining how much it will cost to get a new electric meter installed can be tricky. Electric meters are not typical pieces of household equipment after all. Electric meter installations have to be handled by the utility companies.

You have to get in touch with the service provider in your area to find out how much installation will cost. Interestingly enough, the charges for electric meter installation can be quite varied.

Homeowners may find that some providers will handle electric meter installation at no cost. That typically happens if you’re getting an electric meter installed for the first time. Utility companies may charge extra for the installation of a smart meter though.

Hopefully, the utility company in your area will offer budget-friendly deals on electric meter installation. Don’t expect that to be the case everywhere though.

There are companies out there that put a premium on meter installation. You may find yourself in a predicament where you’ll have to pay close to $1,000 for the job.

Most homeowners don’t have to worry about installing additional electric meters. The one they already have is more than enough to track their electric consumption. The same may not necessarily hold true for business owners.

Going back to something we discussed earlier, business establishments may opt to use time-of-use electric meters. If your business is operating at that kind of rate, that means two electric meters will have to be installed. One electric meter will track consumption during peak hours and the other will monitor off-peak consumption.

Utility companies will usually charge $40 to $50 for the installation of an additional electric meter. There’s still a chance that they’ll handle the installation for free, but you’ll have to pay for the meter itself.

The old electric meter attached to the home you just bought may no longer be posting accurate readings. Removing it would be in your best interests. Allowing it to stay on your property would just lead to your household unnecessarily incurring expenses.

You can also turn to the utility company in your area if you want an old electric meter removed. They will likely not take on that job for free though.

If you need an old electric meter removed, expect to pay around $150 for the job. That’s not a small amount by any means, but it beats being charged extra for inaccurate readings.

Related Questions

Do You Need to Change Your Electric Meter if You Switch Service Providers?

No, you don’t have to replace your electric meter after switching to a different service provider. Your service should also remain continuous even as the switch is made.If you do experience some problems after switching providers, be sure to report that right away. Report that both to your new service provider and to your old company.

What Will Happen if a Utility Company Catches You Tampering with an Electric Meter?

Homeowners are not authorized to tamper with their electric meter without the service provider present. Tampering with the lock or other parts of the meter can lead to you getting hit with a hefty fine. Notably, the fine is actually the lighter punishment.Utility companies can also press charges against guilty offenders. If the charges stick, you may end up being saddled with a misdemeanor charge.Tampering with an electric meter is simply not a good idea. Notify the utility company if you’re having issues with your electric meter and have them help you out.