Quick verdict
The Shelly 2PM Gen4 is the current version of Shelly's dual-channel metered relay and the part that replaces the discontinued Shelly Plus 2PM - at $39.99 it is cheaper than the Plus 2PM was. It keeps what made the older module useful: two independently switched channels with real per-channel metering, a blinds mode for roller shutters, and a local RPC API plus MQTT that Home Assistant reads through the official integration with no cloud account. New in this generation is the radio choice: it ships Matter-certified over Wi-Fi and five presses of the device button move it to Zigbee 3.0, one profile at a time. Two things to keep straight before wiring: the channels are 10 A each but 16 A together, and the outputs are switched live, not dry contacts. I haven't run this one; the notes come from Shelly's spec sheet, the Home Assistant integration docs and what other owners report.
Standout: Two independently metered relay channels plus a blinds mode in one in-wall module, joining Home Assistant over Wi-Fi, Zigbee or Matter.
Notes last checked Sep 8, 2026.