Last year, our electric company began installing smart meters in our neighborhood. They’re handy for tracking home energy use , but they come with potential pitfalls, which is why our neighbor opted to stick with his old-school meter. “The hesitancy and skepticism surrounding smart meters is likely rooted in fears about privacy and exploitation,” says electrician Tim Hodnicki. “People see them as yet more devices scooping up all kinds of data, and they fear that data will be used to nickel-and-dime them in ways that weren’t possible with analog meters.” Here’s how to sort out the pros and cons of smart meters, why utility companies are switching to them and what that means for your electric bill. What Are Smart Meters? onurdongel/Getty Images Smart meters are digital devices that record the real-time usage of electricity in a home, and then electronically send that data to the utility company. They’re installed on the meter box on the outside of a house, replacing the original meter.…