The smart meter system is complex and widely used in daily life. The improvement of the reliability of smart meters makes significant to the normal operation of the entire power sector. Firstly, this paper makes Quantitative analysis about smart meters according to the structural characteristics and the functions of each function of smart meters, then a complete smart meter fault tree is established. Finally, a new method of smart meter reliability sharing algorithm based on fault tree is proposed. The algorithm includes the establishment of the smart meter fault tree, the combination of the reliability sharing algorithm in the minimum cut set of the fault tree, and the component reliability index is proposed for the reliable evaluation of the smart meter system. The fault meter of the fault tree is used to track the fault of the smart meter component, and the key components that affect the fault of the meter are determined, so that the fault prevention can improve the reliability of the smart meter through corresponding measures. The reliability of the algorithm is proved by the reliability index of the smart meter based on the fault tree, which helps to improve the reliability of the system.
