A system for monitoring parameters associated with a device, such as current, voltage, power, temperature, energy consumed, moisture, fluid levels and flow, wind speed, identification parameters, and repair history. The system includes the use of hybrid RFID sensor tags including a combination of active, semi-passive, and passive RFID circuits. Hybrid tags are attached to electrical system components. Standalone electrical components and generators and those connected to the electrical grid may be monitored. Data collected and stored in the hybrid tags may be accessed via a wireless communication link between hybrid tags and either active scanners or a passive interrogators. The data collected and processed from the hybrid tags may be provided to a user via the Internet or another wired or wireless communication network.