What says Wikipedia
A smart meter is an advanced meter (usually an electrical meter) that identifies consumption in more detail than a conventional meter; and optionally, but generally, communicates that information via some network back to the localutility for monitoring and billing purposes (telemetering). This could work for air and water as well in industrial plants. The ultimate idea is to balance the power from utility companies with a Smart Grid
Do a Google Smart Meter and you will find quite a number of utilities setting up their customers with Smart meters. Now this is the hardware.
Check out GE’s Smart Meter here
Next check out Google’s software called Google Power Meter
Mix a Smart Meter and a Google Power Meter
Well, now you have a Smart Building
This is one of IBM’s 5 areas for Smarting by 2010 to 2015
However you could Smart your appliances as well.
Running a home could be like running a production facility. You could balance your usage intelligently, save $$$ in the process, help the economic gain for the community and country and who knows come up with innovative solutions for the future. You could start generating solar, wind and geo-thermal power at home and be an entrepreneur.
Well, all this is an opportunity for the citizens of the world.
The next level of course is the networking of just about everything in your home. in essence you can query any item. Maybe even your husband and children if you so desire. Life could get pretty exiting. For example you could sense that coffee and milk will run out next Tuesday and have your grocery list generated and a road map plotted for your journey to the pharmacy, grocery store, gas station and post office by the most economical route on a pemmPOD (Google pemmPOD :-))
One last thing. Go for a spin in the evening, don’t mind the expense and check out a Robot. And when you get one see that is better than the iJones’s