The present invention discloses an on-appliance measurement device and a load control method for grid interaction. The method comprises: a home environment sensing module senses a home environment ofa household load, to obtain home environment sensing information; a home appliance state sensing module senses a working mode of the household load, and measures a running voltage value and a runningcurrent value when the household load is in a running state; a controller sends the home environment sensing information, the running voltage value and the running current value to a comprehensive control terminal; a controller receives a control policy sent by the comprehensive control terminal; and a home appliance control module controls the household load according to the control policy, to reduce grid operation load fluctuation. The on-appliance measurement device provided in the present invention can implement holistic regulation and control on an intelligent home appliance from a zone area level, can reduce grid operation load fluctuation, to achieve an objective of peak load shifting, thereby reducing energy consumption for users, and also providing support for reducing device operational risks by an electric power company.