Most machines contain rolling element bearings. Thus, utilizing these machine elements as sensors is a huge opportunity for sensor integration without increasing design space or weakening the structure. The electrical impedance of a rolling bearing operated in hydrodynamic lubrication conditions mainly depends on the bearing's capacitance, as a usually nonconductive lubricant separates the surfaces of rolling elements and raceways. This capacitance depends on the Hertz'ian area and the lubrication film thickness, which are in turn functions of the bearing load. Thus, the bearing can be utilized as a load sensor. In this study, recent improvements to the capacitance model are discussed and compared with experimental results, marking considerable progress towards white-box models of rolling bearings utilized as load sensors and enabling simple sensor integration of load sensors in rotating machines close to the process and hence the zone of interest.