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We provide a privacy-friendly cloud-based smart metering storage architecture which provides few-instance storage on encrypted measurements by at the same time allowing SQL queries on them. Our approach is most flexible with respect to two axes: on the one hand it allows to apply filtering rules on encrypted data with respect to various upcoming business cases; on the other hand it provides means for a storage-efficient handling of encrypted measurements by applying server-side deduplication techniques over all incoming smart meter measurements. Although the work at hand is purely dedicated to a smart metering architecture we believe our approach to have value for a broader class of IoT cloud storage solutions. Moreover, it is an example for Privacy-by-design supporting the positive-sum paradigm.