We love the recent trend we’re seeing towards more advanced methods of tracking home power consumption, so we were particularly happy to see Google making a its own contribution. The Google PowerMeter, which is currently in closed beta testing, will provide households with a great tool for tracking and analyzing their energy usage.

PowerMeter will of course be a web-based application and will offer a real-time data stream on how you are using energy. By seeing what is using what amount of power it becomes easier to understand how you can save energy. According to the testimonials in the above Google video, not only will this help reduce a home’s impact on the environment it can save users thousands of dollars per year.

You will also be able to share your energy usage data and compare it with your friends and neighbors for some healthy competition.

The software will require a piece of hardware to monitor energy and Google will be producing this in the near future and working with utility companies to get it out there.

Head over to Google for more information on PowerMeter.