Duke Energy spent $35 million on smart grid initiatives, installing 80000 smart meters as part of a pilot project in Charlotte, North Carolina, to provide business and residential customers with up-to-the-minute information on their energy use, as well as data on how much their appliances cost to operate. This helps them save money by curbing usage during peak times when rate are high or by replacing inefficient appliances. Duke now plans to spend $1 billion on sensors, intelligent meters, and other upgrades for a smart grid serving 700000 customers in Cincinnati.