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With the Smart Grid predicted to become a $200 billion industry over the next five years, it’s not surprising that many IT companies — Google, Microsoft, Intel and others — have reached for their own piece of the pie. But all of them are going to have to make room for a new giant: Apple. The iconic maker of the iPod, iPhone and now iSlate has just patented its own home power management panel.

As novel as this sounds, Apple isn’t introducing any brand new technology. Its home energy management dashboard will be based on HomePlug’s system. HomePlug makes panels that plug into basic wall sockets. In a matter of minutes, this devices connect with every outlet in the house via broadband internet. This type of technology is better known in Europe. But for now, Apple’s power management device is nothing more than a couple of patents — it’ll be a while yet before they’re turned into anything more.

The idea behind a possible device would be to connect a central interface to smart appliances around the home. Users will be able to view how much energy they are using in real time, as well as how much it is costing them. This could give them incentive to change their behavior to conserve both energy and money. Whether ...