This article explores mechanisms to enhance the efficient utilization of renewable energy sources (RES), with a particular emphasis on photovoltaic installations. One such strategy involves implementing a customized electricity rate system for individual consumers. This paper discusses the potential economic and environmental benefits of transitioning from a flat-rate tariff to a time-of-day tariff. This modification can lead to increased energy consumption during off-peak hours, aligning with occasional periods of photovoltaic installations’ overproduction, which might require their temporary shutdowns. The energy that could be produced by RES is supplied by conventional power plants (mostly coal-fueled). Not only does this have negative effects on the environment, but it also increases energy costs. In order to make an informed decision regarding the change of tariff, the consumer must be aware of its potential benefits and drawbacks. The article introduces an IoT-based, cost-effective system with cloud data storage for monitoring residential electricity consumption, offering various features, including an assessment of the financial viability of switching tariffs. This system has been operational for more than six months in real installation, encouraging homeowners to transition from a flat rate tariff to time-of-day tariff and optimize their use of electrical appliances. The article presents the potential benefits of this action, encompassing both financial aspects for users of the installation and environmental protection issues.
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