Google has a new Google PowerMeter free electricity usage monitoring tool that provides you with information on how much energy your home is consuming. Google PowerMeter receives information from utility smart meters and in-home energy management devices and visualizes this information for you on iGoogle (your personalized Google homepage). Google PowerMeter is free to both utilities and consumers.

Update: Google power meter was discontinued in the middle of 2011. Perhaps a little too ahead of its time or superseded by utility companies’ web-based tools.

The TED 5000 energy monitoring system also has an iPhone application.

It currently supports the The Energy Detective TED 5000 energy monitor which starts at $199.99. Many people will need an electrician to hook it up.

Google PowerMeter added support for the PowerCost Monitor WiFi Gateway in late 2010. This WiFi unit wirelessly relays information about your electrical usage to Microsoft Hohm and Google PowerMeter.

See how much energy you are using and optimize your usage to save money.

Some local utility companies have Smart meters that show instantaneous and cumulative power usage without the need to buy anything extra.