You make what you measure. Watch any number carefully enough and you'll tend to optimize it, and most households have significant room to.
It seems like this would be of more interest for commercial applications.
Well that's what my friend's startup focuses on currently piloted in South Africa. The startup built a device that reliably saves power. You don't need to pay any fee up front for the device, you "pay as you go" on amount of saving made on monthly basis. No catch. Average savings currently are around 10-15%, engineering team is pushing the numbers up as we speak. Business has gotten necessary funding and even the primary energy supplier has come on board to put an initiative together that would implement the solution to all street lights in the country in the near future. South Africa is currently going through energy crisis due to huge demand and lack of supply.
PS. My wife is one of the co-founders. :)
So if your bill is $150 a month, this system (or similar) should pay for itself within a year - IF you try to save power using it.
Lots of datacenter grade stuff does. It's really convenient.
Invensys and CutlerHammer both had power-monitoring devices, electric meters and so on (I still have some CH power monitoring sensors on the main power lines at my house with a system that I put together that tracks KwH, heating oil consumption and a few other metrics).
Anyway... I haven't really seen those products move an inch in the last dozen years (other than press releases).
While I do believe that the real-time feedback is helpful, I also more strongly believe that people who really want to cut their power usage will do so by simply turning more things off or using things less. For the most part, a monthly feedback cycle isn't really THAT long. In some cases the month-long feedback loop let's you measure a more cumulative effect in dollars instead of cents.
But people responding to feedback is not something to just dismiss. Monthly isn't the same as on demand which isn't the same as "out in the open." If sockets changed colour from blue to red as the burned electricity, consumption would go down.
Hopefully innovative, web enabled solutions from fast moving startups re-invigorate this sector. I'd sure love to.
http://blog.gridspy.co.nz/2009/08/the-barrier-house.html
We plan to provide the devices today.
Businesses spend more money on power and need more detail to really drill into their power usage. That is why Gridspy (my startup) is focusing on them first.
Because of this, I think that Watt vision and Gridspy are in slightly different markets, perhaps even complimentary.
There's also a big difference between knowing in the abstract that (say) water kettles are expensive, and knowing specifically what is costing us money in our house.
I believe the OP was asking is what is the benefit of this additional measuring and monitoring. What will it provide beyond the KW/h information I can get from my own meter?
It is hard to isolate particular elements of your house's usage without either a lot of legwork or a decent sensor solution. Knowing how you use your power lets you make smart compromises and invest in power saving measures such as better lights, solar hot water heating, insulation or smarter appliances.
It is especially important if there are many people living or working in the same building, making it hard for any one person to get an accurate picture in their minds of the power consumption.
I also have an induction meter (IIRC accurate to ~10W, I've used ones accurate to ~1W) that cost ~$60, so I seriously don't see the value in a $200 system that can't do much more than me, a pencil and time.
I see the system as a bit dishonest when you can tell people to look at a plug and read the amperage draw and tell them to times by 110. It's especially dishonest when the majority of devices now tell the wattage due to EnergyStar requirements.
Personally, I'm with you in preferring a different solution. I use a Kill-a-Watt (http://www.p3international.com/products/special/P4400/P4400-... ) to measure actual average power consumption over a few days for each major device in my home. Seems to work fairly well.
Or an amateur-chef scoffing at someone going to a steakhouse to get a good steak, because he knows how to make them good at home, much cheaper.
Or, say, a geek saying that graphical UIs are bad because he can work much faster on the command line and in vi.
I have two electrical heating devices, but both have a thermostat. I can read the label and do the math and tell you exactly what they cost to have running. But I can't tell you how often the thermostat turns them on and off, and I'm not going to spend a day with a stopwatch, looking at the light going on and off. I can't tell how the temperature outside might affect my heating usage. I can't tell how two persons showering affects the floor-heating in the bathroom, over one or none.
A logger like the one Wattvision offers could offer some input to that.
You cannot read your meter as you walk around the house switching appliances.
Many (if not most) home-owners are far less aware of the power usage of common appliances than we are. They probably don't even know what a kWh is.