Abstract
Smart energy has evolved over the years to include multiple domains integrated across multiple technology themes, such as electricity, smart grid, and logistics, linked through communication technology and processed in the cloud in a holistic way to deliver on global challenges. Advances in sensing, communication, and computation technologies have been made that enable better smart system implementations. In smart energy systems, sensing technologies have spanned multiple domains with newer techniques that are more accurate, have greater dynamic ranges, and are more reliable. Similarly, communication techniques have now evolved into very high-speed, flexible, and dynamic systems. Computation techniques have seen a quantum leap with greater integration, powerful computing engines, and versatile software stacks that are easily available and modifiable. Finally, the system integration has also seen advances in the form of management, automation, and analytics paradigms. Consequently, smart energy systems have witnessed a revolutionary transformation. The complexity has correspondingly grown exponentially. With regard to smart meters, the measurement component has to scale up to meet the demands of the evolved energy eco-system by relying on the advancements offered. The internet of things (IoT) is a key technology enabler in this scenario, and the smart meter is a key component. In recent years, metering technology has evolved in both complexity and functionality. Therefore, it must use the advances offered by IoT to deliver a new role. The internet of things (IoT) is a key technology enabler in this scenario and the smart meter a key component. In recent years, metering technology has evolved in both complexity and functionality. To deliver on its new role, it must use the advances offered by IoT. In this review, we analyze the smart meter as a combination of sensing, computing, and communication nodes for flexible and complex design paradigms. The components are, in turn, reviewed vis-a-vis the advances offered by IoT. The resultant gaps are reported for future design challenges in the conclusion. The identified gaps are the lack of usage of the full spectrum of the available technology and the lack of an inter-disciplinary approach to smart meter design.