Reduce Congestion and Improve Traffic Flow
Effective parking management can help reduce congestion. All too often cities suffer from too many cars and too few parking spaces. By using "demand pricing," a technique that raises the parking rate in areas with high parking demand, you can affect the volume of cars parking there.
In an area with huge demand, just as in any other economic field, the owner of the desired resource can ask for more money. In parking theory, an oft-touted goal is to achieve 85% occupancy of your on-street inventory. This assures you of optimal income while allowing enough open parking spaces to accommodate new parkers, and so eases congestion.
To manage the rate changes and adjustments most efficiently, use a Parkeon multi-space parking meter (MSM) system. Because just 1 MSM controls a full block (rather than 10 or so single space meters), you just have one point of sale to adjust. And with a Parkeon MSM system, all your meters are wirelessly connected to a central server. From this central command point, you can create and download new rates according to your parking management plan. You can test different rates in different areas. You can even program different rates for different parts of the day. You have maximum flexibility to find the best rate management policies for your city. And you have the best tools to improve the flow of traffic in your city.