The document discusses plans for a capstone project involving an IoT-based smart energy meter. It provides background on capstone projects, defines an IoT-based smart energy meter, and describes how such a meter would work. Key components of the proposed smart energy meter include an ESP32 Wi-Fi module, current and voltage sensors, and cloud connectivity to allow remote monitoring of energy consumption from anywhere via the Internet. Benefits highlighted are real-time data access, automated readings eliminating manual collection, detection of excessive usage, and overall cost savings.